4 Things Real Estate Agents Want You to Know

Before you go, we thought you'd like these...
Before you go close icon

Flickr source

Real estate agents can be the saving grace one needs in buying or selling a home. If you have done either one of these things, you know how stressful it can get. It is the agent's job to get things done quickly and smoothly, but they could use a helping hand from you as well. Knowing just four simple things can help move along a sale or close a deal with ease.

1. Be flexible with your timeline
You may have hired the Babe Ruth of real estate agents, but that does not mean you should bank on a quick sell or a quick buy. The housing market is volatile.  The average time your house will sit on the market varies drastically through the country. In one area, your house could sit for two months before a tempting offer comes through. In another area, your house may sit for half a year. Real estate agents will tell you, strict timelines are just going to give the both of you headaches. Before throwing your agent unrealistic expectations, work out a realistic schedule with them which includes the following:

  • Time spent prepping your home
  • Open house staging (How many days? Weeks?)
  • Length of time your house could possibly sit on the market
  • Time spent on negotiations
  • Length of closing procedure

Working with a strategic timeline alleviates pressure from both sides and the focus stays on getting your house sold.

2. Presentation is everything
It may be hard to believe in this day and age that a seller doesn't put in the extra time and effort to spruce up his home before a viewing but it happens.  Prepping your home is more than throwing magazines under a coffee table and handing out finger foods. Everything from the décor to the smell needs to be taken into consideration. Your real estate agent may advise you to rent furniture or paint the walls (if your budget allows) in order to cultivate a more inviting atmosphere. If remodeling for the sake of selling is not within your budget, something as simple as adding plants, doing a deep clean and using some fragrant plug-ins can make a world of a difference.

3. Listen when it comes to pricing your house
Your home may hold a lot of sentimental value and that's hard to price. You may think your home has built up a lot of equity, and you want to be sure that is reflected in your sale price. It's fair that an owner wants his voice heard when it comes to pricing his home, but you hired a real estate agent for a reason. Your agent is theoretically an expert in her field, and, in being the expert, she will know what price will work in your market. If you want to move your home quickly, it is wise to price your home just below market value. This will give your house an attractive position. Unless your home is a luxury home that is unlike anything else in the area or is unique in some other way, there is no legitimate reason to price your home above market value. Pricing your home at market value leaves you vulnerable to a wide range of competition. Have a lengthy discussion with your agent and trust that she knows the market.

4. Agents don't make much from a sale 
Real estate agents are private contractors. They set their own commission rates and fees. Usually a real estate agent works for a brokerage firm that sets them up with sellers or buyers. If there are two agents working on the property (one on the buying side and one on the selling) they may spilt the commission between themselves. It doesn't end there. They then have to split what they take away with their broker. Depending on the brokerage firm, the split can be 50/50 or even 80/20. With that being said, be nice to your agent if she is doing everything she can to help you. Chances are she is juggling several clients.

One stock you need to know
There's a huge difference between a good stock and a stock that can make you rich. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.

This article originally appeared on MyBankTracker.com

The article 4 Things Real Estate Agents Want You to Know originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners