10 Reasons To Lose That Realtor
Your Home is the single most important and the most expensive thing you will ever buy or sell. It cost you a lot of money: remember how hard you worked and all those Ramen noodles you ate to save up for that down payment? Before you buy or sell your house, stop and read this hard truths below first…
Before you even consider hiring a Realtor, think about this: if your house is for sale, and a Realtor sells your $700,000 home, it is gonna cost you big bucks — about $44,070, to be exact. There’s the Realtor’s commission of $39,000 and don’t forget to add in that irksome HST, which in this case would be another $5,070. Most people forget that what the Realtor does is considered a service and that HST must be paid. To make it even easier to understand, let’s say you make $150,000 a year. If you were to pay the Realtor directly, that net amount of $44,070 will take you half a year, six whole months, to earn after taxes.
There are about 50,000 real estate agents in one area (give or take). The profession is so overpopulated that any enforcement of ethical and honest behavior is pretty much next to impossible. Without a way to properly monitor and regulate so many agents, there are many illicit manipulations, oversights and back room deals being done, and usually not in your best interest.
Real Estate agents are not your friends. Their main motivation is, quite simply, greed. Their aim is to get as big a slice of your property sale as quickly as possible and doing as little as possible. They could be having a slump in their sales or their boss is pushing them to make a quick sale. They don’t care if they have to convince you to settle for a lot less money: they want that big, fat commission check and they want it yesterday! Don’t believe me? Reread #2!
Real Estate agents are sales people. They will promise you the sun, the moon and the sky to get you to sign and list your house for sale with them. Once they get you to sign on with them, it’s pretty much just standard procedure for them: file the listing on MLS, ApexInvests, Realtor.ca, their company’s brokerage website, and if you somehow manage to get an active sales person, lucky you, they may also put your listing on their own website. Guess what? You can do it yourself for the fraction of the cost.
To become a Realtor, all you need to do is sit through a 90 day course and then pass a simple exam.
Real estate agents tell you that, sometimes for an additional fee, they can offer you advice and legal protection to make sure that all the paper work is in order: and it usually is, for them! For any transaction in real estate, you need your own lawyer! Why, on earth, would you let someone without any formal legal training convince you they are adhering to the laws and acting in your best interests? Go back and reread #2!
Real estate agents tell you that they save you your valuable time when they sell the house. Really? Did you forget that you have to work for half a year just to pay the agent? Go back and reread #1, #2 and #3!
Real estate agents tell you that they handle the negotiations, so you don’t have to worry. Well, I don’t care how nice they may be, do you really want to trust an agent to handle the largest asset in your life? If Alexander Ovechkin negotiated his own multi-million dollar contract with the owner of an NHL team, then you are more than capable to do your own negotiations! Go back and reread #2, #3 and #6!
Real estate agents tell you that when you let them list your house for sale, they are handling the difficult job of advertising and other marketing. Hello! This is the age of social media, and with a bit of snooping around on the internet, you can open up a large target market of your own by learning how to put free ads on Kijiji, Craigslist, Facebook, LinkedIn, Pinterest and BackPage, just to name a few.
Last, but not least, this is your house, your home we are talking about. If you are the Seller, you are the most qualified person to sell your house! And why shouldn’t you, and you alone, make all the profit in selling your house? If you are the Buyer, take your time and find the place that fits your needs, what you want in your new home! After all, you’re the one who has to live there, not the Realtor!
You have a choice to make, but before you do: Go back and reread #1, #2, #3, #4, #5, #6, #7, #8, #9 and #10!