REAL ESTATE AGENT Smackdown!

This article is not about the secrets of buying accommodations property for no money down and half the price of the market value of the home. I am not Tom Vu or Don Lapre and I’m not in jail.

In Canada, the no money down home did use to exist, however, not anymore. Some banks and/or lenders were willing to lend you the 5% down payment so that you don’t have to pay a dime from your own pockets to purchase a home. However, given the current finances with tighter lending restrictions, there will be no bank or lenders who is able to do that in Canada.

The buying home for half price did use to exist as well. At one point, foreclosures in Canada would allow foreclosed homes to be sold at very cheap prices. The new law, which includes been in placed for many years now require the homes be sold at the highest possible price for foreclosed homes if not the lenders could possibly be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a excellent deal causing it to get a reverse affect. There have been lots of people buying foreclosed homes believing they got much and not performing a thorough check regarding the actual value of the home.

Now, clearing out the quick money maker myths of shopping for homes, there are still many things you need to be aware of before starting.

If there exist ever a business with more sneaky sales tactics and money motivated people, it has got to the Real Estate industry. As a buyer, you will be dishing out $350 000 and everyone wants a bit. The Real AUCTIONS want a piece. Lenders want a bit. The lawyers want a piece and the sellers want piece. No wonder you can find so many scams in this industry.

The first thing to be aware of is the AGENT. AN AGENT is suppose to act in your stead to buy or sell the home. Both the buyer of the home and seller of the home will have their own Real Estate Agent called a Buyer’s AGENT and a Seller’s AGENT.

In Canada, each Real Estate Agent gets typically 2.5% and sometimes 2% for the commission of selling the house. Some Real Estate Agents provide cash back rewards. Canadian Real Estate Agents gets higher commission than somewhere else. In United States, their REALTORS only get 1% of the commission and their homes are in fact much cheaper. Even though REALTORS will be the least educated of the parties involved in the buying home transaction, they seem to be getting the biggest little bit of the pie.

Do not pay attention to their gimmicks on Real Estate Agents are ethical. (http://www.howrealtorshelp.ca) Where do they get the idea any Real Estate Agent off the street is ethical. Their claim is founded on these tests they pass to become a AGENT. Agents passing a test does not meant hey are ethical. It only means they can remember enough to pass the test.

One would believe it ought to be the Real Estate Agent’s job to help the buyer ensure the house is of value. Rightly so, many buyers be determined by the Real Estate Agent to protect them and provide them advice and in my opinion, the ethical Real Estate Agent should do that. However, the true reality is that Real Estate Agents do not earn money unless if the home is bought. The reality is that the Real Estate Agent’s salary isn’t truly dependent on giving you advice. THE TRUE Estate Agent’s job would be to get the buyer to buy a home through them to allow them to get paid!

Due to this, what eventually ends up happening, are two forms of Real Estate Agents with variations in between. The first type is the honest agent with the belief “EASILY work hard and treat my buyer right, the customer will come back to buy more homes from me. The next type is the “I need to get the buyer to buy a house quickly in order that I can move on to the next buyer (sucker) so that I could maximize my time for profit.” The end result is that you are searching for the first type and you also want to steer clear of the second type.

We’ll call the first type, the Bad AGENT. We’ll call the second type, the Good AGENT.

So what kind of characteristics does the Good Real Estate Agent have that the Good AGENT does not have?

1. The initial characteristic is Patience. Bad Real Estate Agents will attempt to sell you a house quickly to get the money quickly. Do not buy a house without spending a lot of time looking at several different homes. moving home Be cautious of tactics such as REALTORS claiming it’s the perfect and acting like a salesman rather than offering you information.

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