15 Real Estate Agent Secrets That Will Surprise Home Buyers
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Buying a home is more than just finding your dream property and signing on the dotted line, as agents know, but they don’t always tell you up front. It’s not that they’re hiding anything from you, it’s just that these insights aren’t often included in the sales pitch, but are often very important on your end of the decision making.
In this article, we’re lifting the veil on 15 top secrets agents know that catch home buyers off guard on a regular basis. Whether you are a first time buyer or already been down this road, these are insights on how to spot the opportunities, avoid the pitfalls and maybe even have a bit of fun.
The First Offer Sets the Tone
Your first offer can set the tone for the entire negotiation process. The problem is that many buyers are inclined to ‘test the waters’ with a low-ball bid, but this can sometimes turn on them, especially if the home has been drawing a lot of interest. Making a reasonable offer is a way of showing that you’re serious and build goodwill with the seller, which can prove very useful if negotiations start to get tight.
It’s Not All About Market Timing
You often hear of the ‘best times’ to buy a home, but agents know that it’s not as simple as seasonal trends. Spring and summer are busier times, but deals happen year round. In reality, buying offseason months like December and January can actually result in some surprising deals as sellers are looking to close before year’s end.
Staging Can Be Deceptive
A home well staged can do wonders in the buyer’s imagination but don’t let the décor do you in. That couch arrangement is a beautiful one, which is intended to make rooms feel spacious and inviting, even if they don’t quite measure up. So, pay attention to things like lighting, wall cracks, and ceiling stains – things that pretty furnishings can’t hide.
Agents Know the “Real” Comps
To determine a home’s worth, agents look beyond the usual comparable sales. They take into account the neighborhood’s vibe, what’s currently developing, and how the neighborhood will look in the coming year, and what amenities are coming down the pipe that might positively affect property values. Sometimes, thanks to this deeper knowledge, they’re more hesitant about a ‘perfect’ home that might not actually be worth its listing price.
Hidden Gems May Slip Through Your Online Search
Real estate websites make it easy to browse homes, but some properties don’t show up on popular listings. Agents can show you other niche set of homes like those about to enter the market or homes in quiet neighborhoods through their network. You may miss out on these off the radar finds if you rely solely on online searches.
Letters Personally Addressed to Sellers Can Sway Sellers
A lot of the time agents will suggest to the buyers to write a heartfelt letter to the seller. For some sellers, this sounds old school but they want to feel good about handing over their home. If your offer isn’t the only bid, convincing the homeowner with a genuine note could help your offer standout.
Agents Are Master Networkers
Good agents don’t work alone, they have a roster of inspectors, appraisers and mortgage lenders they trust. These aren’t just convenient connections, they can even expedite the process for you and give you the opportunity to work with professionals that you can trust. Real estate is a team sport and the agent’s network can level out a lot of potential bumps.
The Best Time to Decide Isn’t Always The First Showing
It takes a few visits to really feel out a home, but many people believe they will just know when they’ve found the one. They may suggest that you revisit a property in the space of a few hours to get a feeling for the neighborhood, traffic, natural light in each room.
The Fees May Sometimes Be Negotiable
Sometimes agent fees feel like they are set in stone, but there is generally room to talk. If you’re buying and selling with an agent or doing multiple properties, many are open to discussing their commissions. This is a tip that most buyers don’t know about and can save you some serious cash in the end.
Not All Inspections Are Cut and Dry
Inspections are important, but they are not all inclusive. Inspections typically are focused on structural elements, and agents know an inspector can miss some things such as underground plumbing or wiring hidden behind walls. Knowing this can help you plan for issues you don’t see now, but may experience in the future.
In Many Cases, Sellers Are Hiding ‘Emotional Baggage’
Many times, sellers are sometimes more motivated to sell than meets the eye. An agent may know there’s a backstory to the home—a divorce, a relocation deadline, or money problems—that can help you in negotiations. While agents can’t pry personal details out of sellers, they can often pick up on subtle clues that let them know just how motivated the seller is to negotiate.
The True Value Isn’t Always the Listing Price
Listing prices can be a strategic move, and agents know that. You may list a home lower to get a bidding war or higher to see what reaction it inspires. It helps to have a skilled agent on your side to decode what’s feasible and what’s just a sales tactic.
Even if You’re Not a parent, School Districts Affect Value
One thing agents know surprisingly well, even for buyers without kids, is the impact school zones have on home values. Houses in sought after districts tend to hold more of their value over time. Realtor.com research found that homes in top rated school districts sell faster and for a higher price.
Moving Costs and Closing Costs Are Often Underestimated
Many buyers budget for the down payment and mortgage, but agents know closing costs and moving expenses can really eat up your wallet. This often catches buyers by surprise and can add up to 5% or more of the home’s price in costs. You can help avoid a financial squeeze by planning ahead for these extras.
Agents Trace How Long a Home Has Been Listed
Sometimes, a property sitting on the market for a long time means there is room for negotiation. If the home hasn’t sold in a week or two, sellers are often more flexible with price. It’s not an absolute, but a good agent will be watching the listing duration and put it to work for you.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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