Rocket Realty reveals how to save money in real estate agent fees by asking the right questions.
Wondering how to save money in real estate agent fees? One of the most important steps that investors like you can take to begin saving money is to interview multiple potential real estate agents. However, at Rocket Realty, we know that just listening to the standard sales pitch of a few agents is not going to cut it. Instead, you need to be asking the right questions. We are dedicated to helping investors like you get the Return on Investment you deserve. So, we’re here to show you how to save money in real estate agent fees by asking the right questions during those interviews..
How to Save Money In Real Estate Agent Fees
Ask: What are your fees?
How You Save: Although it may seem like a no-brainer, many people are too timid to ask to see a breakdown of an agent’s fees prior to hiring them. However, failing to ask only sets you up to be surprised by the time the bill comes around. Instead of risking an unpleasant shock, ask to see a clear outline of all fees up front. This will also empower you to negotiate on some of those fees.
Ask: Are you willing to negotiate?
How You Save: Although some agents are unable to vary on the standard 6% commission due to constraints from their company, many are willing to negotiate. Even a reduction of .5% on the commission of a $400,000 property can give you $2,000 more on your ROI at the end of the day.
Ask: What is your termination policy?
How You Save: The contract between an agent and a client is legally binding. However, if you are not getting the service you expect, you need to know what your options are. Not only should you get a clear outline of what services you can expect, but you must also find out what you can expect if you need to get out of the agreement. This could save you significantly in unexpected termination fees if you end up in this situation.
Ask: What services do you provide?
How You Save: Before hiring any agent, get a clear outline of what exactly you are paying for. You can compare the services offered by various agents for the same price to find which is the better deal. Also, if you are able to do any of that work on your own, you may be able to use that fact to negotiate for a lower price.
Ask: Do you ever represent both the buyer and seller in a sale?
How You Save: On one hand, an agent who is representing you, the seller, and the buyer in a transaction may give you a great opportunity to save on commission because you only have to pay one agent. However, you may still end up paying more in the long run because your agent has the conflicting interest of the buyer and seller to represent.
Asking the right questions to multiple agents is the first step toward a greater return on your investment. If you want more ideas about how to save money in real estate agent fees once you’ve chosen your agent, check out our blog today.
How To Save Money In Real Estate Agent Fees | How To Save Money In Real Estate Agents Fees