Knowing how to deal with real estate agents is the best way to become pro-active in the buying or selling process and get the most favorable results for you. Before you approach a real estate agent, put yourself in their shoes and consider their perspective. Agents work on a commission or part commission basis. If someone was selling a property, you would be anxious to secure them as a client. You know they want to get the best possible price for their real estate, so you would probably give them a high estimate of the value of the property.
If a home buyer came into your office, you would see them as an opportunity to sell a property and earn a commission. You know that the buyer wants the best possible property at the lowest possible price. However, you don't want them to be unrealistic with their expectations. That would be a waste of their time and yours. Now that you have considered the real estate agent's point of view, you are in a better position to approach them with confidence.
To Seller
You want to establish a relationship of mutual trust and respect with the real estate agent, but you also want to remain in a position of power. If you want to sell your property, you will be willing to negotiate a lower price if it's realistic, but can wait until a better offer comes along if someone offers too little. On the other hand, don't insist on an unrealistic price for your property. The real estate agent is not going to act very enthusiastically on your behalf if he or she doesn't think there's a chance of making a sale.
To Buyer
Understand that the real estate agent is working primarily on the seller's behalf. This does not mean, however, that they are working against you. Take advantage of the agent's experience and connections and inspect as many properties as you can. This will give you an even better feel for the market. When you find one you like, offer less than the asking price and gauge the agent's reaction. If they are over-enthusiastic, it may mean the seller is willing to settle for even less, so you may be able to negotiate an even lower price. If the agent is firm about the price, then try to find a middle ground.
To Investor:
It is important to establish a relationship with a real estate agent. Keep in regular touch with them to let them know you are serious about investing. Invite them out for lunch or coffee and chat about business. If you are in the forefront of their mind, you will be the one they contact first when a good investment becomes available. http://rhnws.com.au/
To Seller
You want to establish a relationship of mutual trust and respect with the real estate agent, but you also want to remain in a position of power. If you want to sell your property, you will be willing to negotiate a lower price if it's realistic, but can wait until a better offer comes along if someone offers too little. On the other hand, don't insist on an unrealistic price for your property. The real estate agent is not going to act very enthusiastically on your behalf if he or she doesn't think there's a chance of making a sale.
Understand that the real estate agent is working primarily on the seller's behalf. This does not mean, however, that they are working against you. Take advantage of the agent's experience and connections and inspect as many properties as you can. This will give you an even better feel for the market. When you find one you like, offer less than the asking price and gauge the agent's reaction. If they are over-enthusiastic, it may mean the seller is willing to settle for even less, so you may be able to negotiate an even lower price. If the agent is firm about the price, then try to find a middle ground.
To Investor:
It is important to establish a relationship with a real estate agent. Keep in regular touch with them to let them know you are serious about investing. Invite them out for lunch or coffee and chat about business. If you are in the forefront of their mind, you will be the one they contact first when a good investment becomes available. http://rhnws.com.au/
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