You’ve heard what real estate agents are like – interested in nothing but chasing a fast commission. They’re just barely a step above used-car salesmen who are only slightly above bail bondsmen, right? As with most stereotypes, that’s really pretty far off the mark. Actually, your agent is on your side. That’s why there are some issues real estate agents wish their clients knew about buying a home.
Real estate transactions are just too involved and complex and legally entangled for most of us to handle on our own. So we engage the services of an agent. And being aware of a few issues can make the whole process smoother and more satisfying all around.
3 Issues Real Estate Agents Wish Their Clients Knew About Buying a Home in Los Angeles
Their Survival Depends on Happy/Satisfied Clients
The stereotype mentioned just above is pretty persistent and hard for real estate agents to shake. While a few agents have been guilty of shady practices and greedy behavior, most are not like that. It’s the old bad-apple syndrome, you know.
The truth of the matter is that real estate agents are business people. And businesses thrive only on word-of-mouth recommendations and repeat business. Good agents understand this, and that’s why they do everything they can to ensure that their clients are satisfied with a successful execution of the transaction – that you are happy with their work. Otherwise, you won’t refer them to family and friends.
You Need to Know What You Can Actually Afford
If money weren’t a constraining factor, everything would be a lot simpler. You could just describe your dream home to your agent, she could find it, you could buy it, and everyone would be happy. But . ..
You don’t want to wast your or your agent’s time – that is a recipe for frustration. So being aware of exactly what you can and can’t afford and then communicating that information to your agent is a vital first step. Too many people waste too much time looking at properties they can’t afford. That’s why it’s so important to do your house shopping with a mortgage pre-approval letter in hand.
You Shouldn’t Talk to the Listing Agent or Tip Your Hand
Of the 3 issues real estate agents wish their clients knew about buying a home, this one is probably the most important and is two-pronged.
First, you shouldn’t call or talk to the listing agent. Sellers and buyers usually have separate agents, and these are the ones who hammer out the transactional details. If you try to make an end run and contact the listing agent yourself, you are asking for trouble. Doing this sends the message that you don’t trust or have confidence in your agent. Not only can this slowdown negotiations, but it can also give too much-negotiating leverage to the seller’s agent.
Second, you should avoid talking too much, especially around other agents during showings. It’s a danger to keep in mind because excitement and eagerness, nerves and anxiety can make us too talkative and prone to tip our hand.
If for example, you were to indicate how many houses you’ve already looked at or, far worse, how much you can afford or are willing to spend, you would tip the scales in the seller’s favor. Divulging such information would give the seller and her agent far more bargaining leverage, thus skewing negotiations in their favor.
Your real estate agent really is on your side. It’s a partnership deal, after all, and your happiness is their success. We have the experience and the trained real estate personnel to help you get what you want – especially now that you’re aware of these 3 issues real estate agents wish their clients knew about buying a home.