10 Best Practices For REAL ESTATE AGENT

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

In Canada, the no money down home did use to exist, however, 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 from your own pockets to purchase a house. 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 as well. At one point, foreclosures in Canada would allow foreclosed homes to be sold at rock bottom prices. The new law, which includes been in placed for several years now require the homes be sold at optimum price for foreclosed homes if not the lenders could possibly be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a really good deal causing it to possess a reverse affect. There have been lots of people buying foreclosed homes believing they got much and not performing 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 more sneaky sales tactics and money motivated people, it has got to the Real Estate industry. As a buyer, you could be dishing out $350 000 and everyone wants a bit. The Real AUCTIONS want a piece. Lenders want a piece. The lawyers want a piece and the sellers want piece. No wonder you can find so many scams in this industry.

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

In Canada, each Real Estate Agent gets an average of 2.5% and sometimes 2% for the commission of selling the house. Some Real Estate Agents provide cash back rewards. Canadian REALTORS gets higher commission than anywhere else. In United States, their Real Estate Agents only get 1% of the commission and their homes are in fact much cheaper. Even though Real Estate Agents will be the least educated of the parties mixed up in buying home transaction, they appear 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 get the idea any Real Estate Agent off the street is ethical. Their claim is founded on these tests that they pass to become a AGENT. Agents passing a test does not meant hey are ethical. It only means they are able to remember enough to pass the test.

One would believe it ought to 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 for me, the ethical AGENT should do that. estate agents However, the true reality is that REALTORS do not make money unless if the home is bought. The reality is that the true Estate Agent’s salary is not truly dependent on providing you advice. The Real Estate Agent’s job is to get the buyer to get a home through them to allow them to get paid!

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

We’ll call the initial type, the Bad Real Estate Agent. We’ll call the second type, the Good AGENT.

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

1. The initial characteristic is Patience. Bad Real Estate Agents will attempt to sell you a house quickly to have the money quickly. Do not buy a house without spending a lot of time looking at several different homes. Be cautious of tactics such as REALTORS claiming it is the perfect and acting like a salesman rather than providing you information.

Written By RexDebiasio

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