the commission. A maxim in real estate is, “No matter how it’s set up, the buyer still walks away with the house, and the seller still walks away with around 94% of the purchase price.”
MORE ACCESS TO THE REAL ES O THE REAL ESTATE MARKE TE MARKET
A real estate agent will have better access to the market and special knowledge of local conditions. The agent is a full-time liaison between sellers and buyers. An agent will have ready access to other properties listed by other agents. Buyers’ and Sellers’ agents know how to put a real estate deal together. A real estate agent will track down homes that meet your criteria, contact sellers’ agents, and secure appointments for viewing the homes. On their own, buyers have a more difficult time with these things. This is even more so when a buyer is moving due to relocation or employment opportunities.
NEGOTIATING IS HARDER ON YOUR OWN
A real estate agent will keep the transaction “at arm’s length” such that personalities and emotions do not become involved. Price negotiations take a special skill and understanding of the psychology of offering and counter-offering. Agents keep the transaction dispassionate and rational. For example, a buyer (you) might like a home but despise its wood- paneled walls, shag carpet, and lurid orange kitchen. When you work with an agent, you can express your opinions on the current owner’s decorating skills and complain about how much it will cost to upgrade the home without insulting the owner. Your agent will translate that to the seller — that you very much like the property but can see having to spend a certain amount in decorating costs and thus can offer that much less.
CONTRACTUALLY SPEAKING…
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