I’ve got a secret to tell you: Realtors aren’t just real estate agents. They’re master negotiators working on your behalf and they don’t get paid unless they sell your home. That’s right, these folks are going to argue for you, fight for you and do everything in their power to make sure that the sale goes through at a price that keeps all parties at the table. So how on earth do you negotiate with someone like that? Well here are some tips:
You should always ask
When you hire a realtor to sell your home, you are hiring someone who has access to the best information on what homes in your area have sold for recently. Because of this, it’s important that you have an open dialog with them about how much time and effort they will need to put into selling your house. In most cases, if the seller is willing to negotiate with their realtor price tag, it can save them thousands of dollars in commission fees.
Before talking about asking for a lower fee though, let’s first review some basic facts:
- The typical fee charged by a Realtor is 6% of the sales price (this percentage varies by state). This means that if your home sells for $200,000 and there are no other fees associated with selling it (MLS listing expense), then you would pay $12000 as part of your commission cost.
It’s not just the home sale
You might not be aware that a realtor can be an invaluable resource even after you’ve purchased and sold your home. A realtor can help with finding a rental or place to buy, as well as help you find a property manager for your rental property.
A realtor is licensed to help you sell your home, but they also have relationships with other people in the industry who can provide other services related to buying and selling homes. This makes them extremely valuable during the entire process of selling or buying a house, even after closing on the sale of one and before closing on another.
They do a lot of work behind the scenes
You’re probably aware that realtors are responsible for finding a buyer for your home, and they do so by marketing it. That’s one of their most important duties, but it isn’t the only one.
As a realtor you may have to:
- Negotiate on behalf of your seller or buyer by using contracts, offers and counteroffers. The more negotiations that go into selling a home, the longer it takes to complete—and if this is happening with multiple buyers and sellers involved in any given transaction, it can take quite awhile before everything is agreed upon!
They know what they’re worth
Real estate agents are experienced professionals who know the market and can help you get the best deal. They know what homes in your area are selling for, how long it takes to sell them, which homes are making multiple offers, and how much time buyers need to see a home before they make an offer on it.
This means that when you work with a real estate agent, they will be able to advise you on how much time is needed to sell your home. If they think that it may take longer than anticipated—or if there’s some reason why they don’t think your house will attract as many potential buyers as other homes—they’ll tell you so before listing your property so as not to waste money unnecessarily.
Though they’re worth it, they may negotiate
Many people believe that real estate agents are worth their weight in gold. After all, a good agent can find you the perfect home to call your own and negotiate a great price for it. However, there’s also the possibility that they could end up costing you more than you bargained for—so is it possible to get them to lower their rates?
Even though they’re worth it, realtors may be able to negotiate with you on price if they think they can make more money by doing so or if they’re feeling generous (or if you give them reason). It takes leverage and knowledge of the market to make this happen successfully; while some agents will work hard without gaining anything from their efforts except satisfaction at having helped someone else find happiness through home ownership, others might have higher expectations when it comes time to close out the deal. Even though many people don’t realize this about agents as often as we would like them too…it does happen!
While we should always aim high when going after what we want in life – whether that means getting rid of junk from our closet or negotiating down our Realtor fees – sometimes things don’t go exactly how we planned them out at first glance because there’s always room for improvement; however even when things seem bleakest about not being able to afford something expensive like buying property…there’s always hope somewhere along those lines!
Realtors can be negotiated with, but it takes a certain amount of leverage and knowledge to make that work.
In most cases, a realtor’s commission is paid by the seller. That means that if you want to negotiate with your agent, you’re going to have to talk with them about getting their client (the seller) in on it too. If you’re buying a house and want a lower price, for example, your realtor can’t just take a smaller cut for themselves—they’d have to convince their client (the seller) as well.
It’s also important to note that some agents are willing to work out deals where they get paid less money but are also given higher bonuses based on how many listings they sell or how much money they make from other sources during their time working with clients; others simply don’t do this kind of negotiation at all because they aren’t interested in making less money overall when considering what will bring them more cash flow in general over time.
This is a good time to remember that realtors have a lot of things on their mind. They’re working hard to make sure you get the best deal possible, so if there’s something you want them to do for you, don’t hesitate to ask! As long as you know what you want and how much it costs, there are ways of negotiating with your Realtor without ruining the relationship.
Disclaimer: There are numerous factors to consider in every investment, including real estate. The information provided above is just a matter of opinion and can change with time. It shouldn’t be construed as legal or tax advice; neither does the report constitute a financial promotion or investment advice. It is general information and before making any such decision, you should seek out licensed professionals and see all ends clearly.