No matter how friendly your real estate agent is, always keep them at a distance through the process of buying or selling real estate. If you choose to share too much with them, it could end up costing you more profit in the end.
They are the middleman, their job is to close your deal so they can move on to the next one. If you find a house that you would die to live in, they do not need to know that. If they get any sort of information like that, they can use that to share with the opposite party’s agent to manipulate both parties into selling short or buying high, which could end up making your bottom line a lot less than you were planning for.
Learning the game of poker has many uses, including keeping the ever popular poker face throughout the entire real estate deal, never let either agent, including yours see your cards. They should never find out you love a particular house and cannot live without it – that information will be used against you. Your agent should know how serious you are about making the deal go through however. If they suspect you are not serious, it will be hard getting them to do any work on your behalf. It never hurts to be up on all the real estate lingo, interest rates as well as getting all of your financing in place as a buyer. Once they know, that you know your stuff, they will not try to push you around into an unprofitable deal.
Everything is negotiable during this process and keep that in mind when you are signing on with any real estate agent. If you feel their commission is too high, counter with a lower percentage. Make sure if you are a seller and have interested buyers that you brought to the table, that those names are listed in the contract, so you will not pay half the commission to the realtor when they did none of that work to bring them to the deal. Be careful not to allow an agent to take a long exclusive period while selling your house. Give them a shorter period of time say 3-6 months to prove themselves. Then if they have shown their worth, extend that exclusive period in the contract.
Just be smart when using a real estate agent. They do not need to all everything about what you want and what you are willing to pay.
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