3 Mistakes In REAL ESTATE AGENT That Make You Look Dumb

This article is not about the secrets of buying accommodations property for no money down and half the price of the market value of the house. I’m not Tom Vu or Don Lapre and I’m not in jail.

In Canada, the no money down home did use to exist, but not anymore. Some banks and/or lenders were willing to lend you the 5% deposit so that you don’t have to pay a dime out of your own pockets to purchase a home. However, given the current finances with tighter lending restrictions, there will be no bank or lenders who can do that in Canada.

The buying home for half price did use to exist aswell. At one point, foreclosures in Canada allows foreclosed homes to be sold at very cheap prices. The new law, which includes been in placed for many years now require the homes be sold at optimum price for foreclosed homes or else the lenders could be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a really good deal causing it to get a reverse affect. There were many people buying foreclosed homes believing they got a good deal and not doing a thorough check as to the actual value of the house.

Now, clearing out the quick money maker myths of shopping for homes, there are still a lot of things you need to be aware of before starting.

If there exist ever an industry with an increase of sneaky sales tactics and money motivated people, it has got to the true Estate industry. As a buyer, you could be dishing out $350 000 and everyone wants a bit. The Real AUCTIONS want a piece. The lenders want a bit. The lawyers want a bit and the sellers want piece. No wonder you can find so many scams in this industry.

The first thing to be aware of is the AGENT. A Real Estate Agent is suppose to act on your behalf to buy or sell the home. moving home Both the buyer of the house and seller of the home will have their own AGENT called a Buyer’s AGENT and a Seller’s Real Estate Agent.

In Canada, each AGENT gets an average of 2.5% and sometimes 2% for the commission of selling the home. Some Real Estate Agents provide cash back rewards. Canadian Real Estate Agents gets higher commission than anywhere else. In United States, their REALTORS only get 1% of the commission and their homes are in fact much cheaper. Even though Real Estate Agents are the least educated of the parties mixed up in buying home transaction, they seem to be getting the biggest piece of the pie.

Do not listen to their gimmicks on REALTORS are ethical. (http://www.howrealtorshelp.ca) Where do they obtain the idea any AGENT off the street is ethical. Their claim is based on these tests they pass to become a Real Estate Agent. Agents passing a test will not meant hey are ethical. It only means they can remember enough to pass the test.

One would believe it must be the Real Estate Agent’s job to greatly help the buyer ensure the home is of value. Rightly so, many buyers be determined by the Real Estate Agent to protect them and offer them advice and in my opinion, the ethical Real Estate Agent should do that. However, the real reality is that Real Estate Agents do not make money unless if the home is purchased. The reality is that the Real Estate Agent’s salary isn’t truly dependent on providing you advice. The Real Estate Agent’s job would be to get the buyer to buy a home through them to allow them to get paid!

As a result of this, what eventually ends up happening, are two forms of REALTORS with variations in between. The first type may be the honest agent with the belief “EASILY work hard and treat my buyer right, the customer will come back again to buy more homes from me. The second type is the “I have to get the buyer to get a house quickly in order that I can move on to the next buyer (sucker) so that I could maximize my time for profit.” The end result is that you are looking for the first type and you also want to steer clear of the second type.

We’ll call the first type, the Bad AGENT. We’ll call the second type, the Good AGENT.

So what sort of characteristics does the Good Real Estate Agent have that the Good AGENT does not have?

1. The initial characteristic is Patience. Bad REALTORS will attempt to sell you a house quickly to find the money quickly. Do not buy a house without spending lots of time looking at several different homes. Be careful of tactics such as REALTORS claiming it’s the perfect and acting like a salesman rather than offering you information.

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