Sellers Beware

This page is very important to sellers as it contains certain issues, information and “tricks of the trade” that sellers need to be aware of when choosing a real estate professional and during the process of selling a property.

• Perhaps the most important and effective method of prospecting of a REALTOR to find new clients are making phone calls the homes in an area and door knocking. We do not like it no more that you do; however, REALTORS must do these to get the chance of helping you and earning a living. So, please be patient and kind to us when you see us!
  However, you will come across some individuals claiming that they have a buyer for your property. Beware, most of the time there is no buyer!! This is unfortunately a dishonest gimmick some people use to get a listing. DO NOT BE TRICKED! If someone lies to you to get your listing, imagine what else they can do along after they got your listing. However, there are ways to find out if the REALTOR is being honest with you. Please contact me and I will tell you what to do.
  
  
• In my opinion, the most important concern for both sellers and buyers should be the goal of a real estate professional. If the REALTOR’s goal is different from your goal, then they are not really working for you and your benefit. They are working for commission or something else. Remember, when your goals differ, your deal will suffer!! I personally don’t work for my commission! Rather, I work for my clients, I earn my commission and I live with it! That is what all REALTORS should do and the good one do!

• Most of the time, a real estate transaction involves two brokerages and agents. Hence a listing brokerage or agent and a buyer (also called selling) brokerage or agent. If there is only one brokerage involved in a transition, then there is a multiple representation. This is also true if there are two REALTORS from the same brokerage. By law every REALTOR has to explain this to you before signing a contract. Ask your REALTOR to explain this to you.

• You might find a REALTOR advertising claiming a very low commission (i.e. 1%). Most of the time, they are advertising the listing agent’s commission and not the buyer agent’s commission. This is a misleading advertising. After you meet, you would soon realize that the true commission that you will be paying is more! (Ex. 1% to the listing agent and 2.5% to the buyer agent!)  Before inviting someone over for interview clarify this matter. If someone wants to obtain your business by misleading you, you might want to think twice before inviting them over!

• Some REALTORs claim that they will sell your house. Know that it is not the job of a listing agent to sell your house! A listing agent only markets your house in an effective manner so that a buyer agent could sell your property! So, the buyer agent sells the house and the listing agent provides the listing of a house and assists you and the buyers to complete the transaction. As a result, the strategies and marketing plan as well as the attitude of the listing agent that you heir are very important to have a successful sale.
  
  
• in most cases a REALTOR with a lot of listings is not always the best choice! They simply do not have the necessary time to do what needs to be done to market your house more effectively. Remember, there is more to selling a house than listing it on MLS, installing a sign on the lawn, putting an ad in the paper!! These are all passive advertising.
  
  
• Having a good knowledgeable and caring lawyer is very important in a real estate transaction. A good lawyer can save you thousands in legal fees. Even when you are buying a new house or a condo from a builder, a good responsible lawyer can negotiate some of the terms to your advantage and help you save.  So, choose wisely and do not choose your lawyer base on your lawyer fees!
  
  
•  Staging your house always help to attract more buyers. You can heir a staging professional for consulting or to do the job for you.
  
  
• If you have a mortgage on your property, be aware that sometimes breaking a mortgage contract involves penalties. Therefore, in addition to reading your mortgage contract, make sure to obtain a written statement from your lender indicating how much those penalties are, if any!  In times, these penalties can be substantial and you need to take this into consideration before selling your house. A knowledgeable REALTOR should ask for a bank statement before selling your house.
  
  
• Beware of Real Estate companies that offer what seem like exceptional deals to list your home. Often offers that seems too good to be true, are not good for you. If a company is offering a gimmick in order to attract your business, you should ask yourself will they have your best interest at heart? Will they do their best to get you the full value of your home? If they are offering to list your home for a minimal fee, they will be making their money from the purchaser of your home, and therefore they will most likely be looking after the interests of the buyer rather than yours, trying peruse you to close the deal so they can move on to the nest victim. If you see a low commission offer, make sure you are getting a full service rather than just a sign on the lot and waiting and waiting!!

If you have any questions or need any advise, please do not hesitate to contact me. I will be more than happy to assist.