Need to Know Facts About Real Estate Agents - Tim Marais

Most real agents are of good reputation, truthful and reliable. They're well-informed on the worth of your house, the state of the housing market and even the buyer's frame of mind. Their knowledge is what makes an agent valuable to you.

But not everything an agent does is exclusive to the client's benefits. There can be some self-interest built into real estate transactions.

Tim Marais Real Estate is going to tell you the fact regarding the commercial real estate and about the real estate agents.

Here are three not-so-apparent facts about agents:

1. Agents aren't obligated to show you homes.

Agents are under no obligation to show homes that might be of most interest to you. They are not obligated to show you everything that's available. They may try to steer you toward homes that serve their purposes more, including ones that would be easier for them to sell, or that have been languishing on the market. They can be selective about what they show. That said, if you've signed a contract with the agent, you can pinpoint the homes that you want to see.

2. Agents typically use the same home inspectors and mortgage brokers.

When it comes time for appraisals, home inspections, legal work and mortgages, agents tend to work with the same service providers. These supporting players are grateful for the repeat business, which means that their true loyalty may be to the agent -- not to you.

That's why you can't always assume that a home inspection is as thorough as it should be. The outcome may depend on what best suits the agent's needs. An agent's inspector might accidently-on-purpose neglect to notice certain flaws and structural problems. It's best for consumers to read the reports that these individuals submit and conduct their own due diligence.

3. Agents are motivated to sell your house, ASAP.

It may be in an agent's interest to move your house as quickly as possible without waiting for a better price. That extra $10,000 on the selling price may make a big difference to you, but the additional commission your agent earns is negligible.

That means your agent may encourage you to settle for a lower price, sometimes using fear as a tactic. He or she might, for example, might suggest that housing prices are poised to fall and that it would be best to take the latest offer. The reality might be different.