4 things realtors might not tell you

Most realtors act with integrity and are honest and upright. However, here are four things they might not tell you.

1. Commissions are negotiable
Commissions vary, but keep in mind that “standard” rates needn’t be mandatory. Not only can you negotiate a commission up-front, but it’s also possible to ask agents to lower it to ensure that a deal goes through. For instance, if you and the buyer are $4,000 apart, you can ask the agents to lower their respective commissions by $2,000.

2. They may be too busy for you
When signing with a brokerage, always ask them what you’re paying for. This is especially true in the case of well-known realtors who trade on their reputation. Find out whether they’ll be the ones handling the legwork, answering your calls and dealing with other agents on your behalf. Some of them might pass you off to a junior agent after you sign.

3. You can look them up
You probably already know that you should always deal with licensed realtors, but you may not be aware that in most cases you have access to records kept by regulatory agencies. Before signing with a realtor, look them up through the relevant organization.

4. Your house isn’t worth that much
“Buying your listing” is an industry term that refers to overestimating the value of a house to motivate a seller to sign with an agent. The agent gets the listing and you get a house that’ll sit on the market for a long time. Shop around for a good agent who understands current market conditions and uses that knowledge to price your home realistically.

Though they aren’t exactly trade secrets, knowing these four things will definitely give you an edge when shopping for a good realtor.