Scroll to top

Top 12 secrets of the real estate industry

12 secrets of the real estate agent’s profession

The real estate business has been always considered to be one of the highest-paid ones. Many people dream to deal with a property since there is a quite rewarding commission. However, not everyone realizes that realtor job is not that easy and you should put much effort to earn money.

Nowadays it is difficult to imagine home sales, rent, leasing without involvement of a real estate agent or broker. They help people at the most responsible stages of their lives since buying or selling property is a life-changing event. But unfortunately, many realtors do not wish to share the tricks they use in their profession with ordinary people. Therefore we decided to interfere with their professional activity and find out several secrets of their success. 

Open houses are subjected to damages and thefts

It is not a secret that many people do not wish to share their intention of selling a home with the public because they are afraid of being burgled. However, real estate agents believe that empty homes without people’s valuables do not attract burglars since there is almost nothing they can benefit from. At the same time, some professionals note that there is a sense to worry if a family with small kids arrives to the showing. When parents are busy researching the property, kids can cause more damage than anyone else.

The atmosphere is a key to perfect staging

The atmosphere is a key to perfect staging

It is a widely known fact that vacant homes are less popular with buyers, so many of them look for staged homes first of all. Real estate agents are well aware of this fact and they have found out a key to the success of a staged home. If a property does not have any luxurious furniture or accessories as well as exclusive interior design, it is important to create a special atmosphere there. Tea, biscuits, flowers and silent music are used for this purpose. Other important tricks of how to make a home more appealing on showing are getting rid of animals, opening curtains wide and switching on the light, place decluttering and depersonalization. It will produce an impression of a warm, spacious, and light home without anyone else’s features.

Realtors can’t say everything to a buyer

It goes without saying that a professional realtor should disclose any material defects of the home for sale, but he or she can’t know everything about it too. Naturally, there are sellers who want to hide some defects and do that professionally enough that even experts can’t spot them. Consequently, realtors are not able to tell buyers all the secrets about a property simply because they do not know about them. Moreover, according to realtor ethics, they also do not comment if any house for sale is haunted or has any mysterious features. It is better to visit neighbors for this purpose rather than rely on the real estate agent.

They are available round the clock

They are available round the clock

A job of a real estate broker can be also compared with one of a therapist who accepts calls from the patients round the clock. Since home sales and purchases are very stressful processes, many clients do not mind calling at late hours or early in the morning if they have any questions. It is important to find a compromise in the relationships of a realtor and a client, especially if it is a couple or a family whose vision of the future property can be absolutely different.

Little slips can cost them a job or a fortune

People are not insured against mistakes but real estate agents do not have a right to make them. If he or she forgets to call back a client within certain time frames or misses anything, there are high chances that this job can be lost forever. The same goes for being careful enough so that a seller and buyer could communicate with each other only with the help of an agent. Otherwise, it can cost the last one the entire commission.

They should be psychologists to some extent

Human emotions can go to their extremes when they face stressful situations connected with big money. Consequently, realtors should be ready to communicate with people who are furious, defeated, angry or frustrated. The range of emotions can be various but it is important to find necessary words to calm down and convince an interlocutor.

They have their own dialect

There is a vocabulary understood only by people of a certain profession and the real estate sphere is not an exception. For example, the phrase ‘motivated seller’ means that the property is not in the best condition so the price is negotiable. The word ‘Charming’ can be used instead of small, while the word ’mature’ substitutes everything that is old.

They hurry to close deals faster

This is not in the interest of a real estate agent to delay anything working on a deal. The reason for that is the fact that most of them earn only commission and do not have any other sources of income. Consequently, they need to close as many deals as possible to get more revenue.

They appreciate prepared clients

Novice clients often do not have any idea of the selling process and may set unrealistic expectations regarding agents. However, when a person is experienced or at least had read several articles on the topic, it is much easier to help such clients. It is especially important when a person plans to take a mortgage and has already prepared all the documents and finances as well as was pre-approved.

At the same time, there is another side of the medal when it comes to the prepared clients. Some of them believe that they can cope with the process themselves and do not need realtor help, but when they meet appraisers, inspectors, attorneys, their self-confidence disappears and a necessity to look for professional help remains.

There is no sense to discuss the home price

It goes without saying that home prices you see in the listings are rarely negotiable. The reason for that is the fact that this price has been determined on the basis of a detailed comparative analysis, research of the neighborhood and real estate experience of working with appraisers. In any case, it will be close to the one you will see after appraisal so there is no sense to get on other people’s nerves to get a big discount. Of course, there are cases when homeowners want to maximize their profits and set higher prices, but it is easy to guess such homes comparing them with others and only in this case, there is sense to discuss the price. 

Selling homes is not the only responsibility of theirs

If you think that realtors spend their long working days looking for homes for sale, you are mistaken. They should devote a good deal of their time to sell themselves and keep contact with their clients. The competition in the real estate business is tough so it is important to treat marketing as an indispensable part of their job. Not only homes should be advertised!

Not everything written on the web about real estate agents is true

People and their selling experience are different, so it is impossible to find individuals who are absolutely satisfied with the real estate services received. Homes hide a lot of secrets and realtors are not to blame for them. Therefore, when a potential client starts reading reviews on the web, it is important to analyze everything written and compare the number of positive and negative reviews before making the final choice.

You should also remember that only perfect testimonials look suspicious too, so speak to an agent before signing a contract! Real estate agents have their secrets like each of us, but we managed to learn some of them and now can look at this profession from another angle, can’t we?

Related posts

Baccart Black