How To See Through Real Estate Broker Tricks

Expand the description and view the text of the steps for this how-to video.Check out Howcast for other do-it-yourself videos from vinzfeller and more videos in the Selling a Home category.You can contribute too! Create your own DIY guide at http://www.howcast.com/videos/... or produce your own Howcast spots with the Howcast Filmmakers Program at http://www.howcast.com/filmmak... real estate brokers have a lot of tricks up their sleeves. Learn to beat them at their own game.To complete this How-To you will need:A knowledge of typical broker consA healthy dose of skepticismStep 1: Do your own researchBefore you hire a broker, do your own research about what comparable houses have sold for in your area. That way, you'll know if your broker is giving you good advice or just trying to make a quick sale.Step 2: Don't be pushed into accepting a lower priceDon't be pushed into accepting a lower price than you feel your home is worth. Just remember that brokers keep their own homes on the market significantly longer than the average, yielding a higher sale price.Tip: Keep in mind that holding out for an offer of $10,000 more gives the broker a measly $150 in commission -- hardly worth her time to work for the extra $9,400 you'll yield.Step 3: Don't be bullied into an open houseDon't be bullied into holding an open house. Only two percent of houses are sold this way, so the real winner is the broker, who makes all kinds of contacts.Tip: Negotiate a lower commission. With so many people selling their own homes on the Internet and using discount brokers, most real estate agents are willing to accept a lower fee than the once-standard six percent.Step 4: Make them run all offers past youStipulate in your contract that your broker has to run all offers past you. An unethical broker might not tell you about an offer from a buyer represented by another agency—so that she doesn't have to split a commission.Step 5: Don't use the broker's inspectorFor obvious reasons, it's wiser to hire your own inspector than one who may be in cahoots with a broker to rubber stamp a property.Step 6: Be leery of their renovation suggestionsDon't assume that because a broker is waxing poetic about the lucrative renovations you can make she knows what she's talking about. Check with zoning laws before assuming you can make substantial changes to the house or property.Step 7: Consider selling your home yourselfConsider selling your home yourself. There are plenty of books and websites that will walk you through the process, saving you thousands of dollars.Thanks for watching How To See Through Real Estate Broker Tricks! If you enjoyed this video subscribe to the Howcast YouTube channel! http://www.youtube.com/subscri...

Channel: Howto & Style
Uploaded: November 30, 1999 at 12:00 am
Author: Howcast

Length: 02:11
Rating: 3.2260869
Views: 22099

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