There are several benefits to working with a Lynnfield real estate agent when you buy or sell your home. However, many real estate agents aren’t exactly open books, and there may be some information your agent won’t share with you for one reason or another. Here are some top secrets most clients won’t hear divulged by their real estate broker.
Open houses benefit agents more than sellers
The common belief is that an open house exists to show an available home to potential buyers who may consider making an offer. However, most people who show up for open houses are not seriously interested in the property. They may have noticed the sign in front of the home and decided to stop in, or perhaps they are just beginning their home search and simply curious about what’s available.
Regardless, the listing agent will be present at the open house and will be making connections with individuals and couples who visit. Even if an open house guest doesn’t make an offer on a home, the agent still benefits from making the connection and finding opportunities to share their business card.
Homeowners associations and zoning boards can have strict regulations
Perhaps you find a property that you love, and in your mind, the only thing missing is a new addition or renovation. Many agents will speak out in favor of the idea, but the reality is that you may struggle to receive permission from the HOA to make certain changes to your property. If you find a home you plan to work on after purchasing, don’t rely on your agent’s advice on local rules and regulations. Take time to do the research yourself so you can feel confident about the changes on the home you want to complete.
Your agent may not recommend the best inspector
After you agree to purchase a home, one of the first things you’ll do is schedule a property inspection. If the inspection reveals any serious concerns about the structural or foundational integrity of the home, the deal can quickly fall apart. This is why many agents will recommend inspectors who are willing to overlook significant problems with the home and only point out the small ones. If you want the complete picture of the condition of the home that you’re buying, consider working with your own inspector or at least evaluate different possible contractors in addition to the inspector that your realtor recommends.
Faster sales are more beneficial
Most realtors prefer quantity over quality. In other words, they would rather take several smaller deals than sit and wait for one or two larger deals. What happens sometimes is that a realtor will encourage you to take a deal below the asking price early on in the process, or they may suggest a price drop after your home has only been on the market for a short time because they want your home to go under contract more quickly so that they can secure their payday without having to wait much longer.
The disclaimer of promises can set you up for trouble
Many home contracts contain a “disclaimer of promises” that states that you are not relying on any promises or statements that your agent has made when deciding to sell or purchase your home. In reality, since you don’t know as much as your agent about the market or the process of making a real estate transaction, you are relying on these statements a great deal. If you want peace of mind about what you’re signing up for, you can hire an outside lawyer to read through the contract to ensure that you aren’t missing something in the fine print.
Your home’s smell matters
A home that smells good can create a positive association in a potential buyer’s mind. At the same time, many people are turned off by plug-in air fresheners. A better alternative is to bake cookies in your home right before a prospective buyer comes over for a showing. If you don’t have time (or ingredients) to bake cookies, there are other ways you can naturally help your home smell better.
A messy home isn’t the worst thing in the world
Perhaps you get a call from a potential buyer who wants to see your home in fifteen minutes. You turn them away because your home is messy, and you don’t want them to see the property unless it’s in pristine condition. This is understandable; however, buyers who schedule last-minute showings sometimes make impulsive decisions and could be more likely to make an offer on a home even if it doesn’t show as well as it could.
Some agents will overestimate your home’s price
It’s not unheard of for an agent to try and buy your listing by convincing you that your home can sell for a higher price than what it’s actually worth. Instead of making more money on your sale, your home will sit on the market for longer periods of time, and you’ll get frustrated when nobody makes an offer or asks to schedule a showing. To prevent this from happening, you can research what your home is worth before you get ready to work with a realtor.
Many people who shop for Lynnfield real estate find Louise Touchette to be honest, trustworthy, and upfront throughout every stage of the selling or purchasing process. Louise specializes in luxury real estate in the Lynnfield neighborhood, and she takes pride in managing her clients’ transactions so that they can spend time on what’s most important to them in life. She is one of the top-producing agents in the entire nation, with over $1 million of Lynnfield real estate sales. For those interested in the broader market, checking out the latest Peabody, MA real estate market report can also provide valuable insights. When you’re ready to test the market, give Louise a call to explore the diverse range of Lynnfield homes for sale.
