(14) Huge Commission On Cost Of Property Title
It is one of the most common dirty secrets your real estate broker will never tell you. Home’s closing or final sale is always accompanied with a number of fees that may vary from one state to another.
The major part of these fees goes to insurance on property title that can be negotiated with your lender.
Your broker will hardly tell you about your right to negotiate on the title insurance as up to 70% of cost of title insurance represent a lawyer’s commission or title agent that handles the documentation.
You can instruct your own lawyer to negotiate for a lower commission.
(15) Bad Seller’s Market May Seek More Discounts
It is one of the most popular dirty secrets your real estate broker will never tell you. Bad seller’s market or buyer’s market is a possible sign of market recession.
During recession, finding a great housing deal could be one of the most difficult parts of a real estate selling process.
Homebuyers in a buyer’s market may try to take full advantage of such situation. They can putt unrealistic & highly discounted home prices to close a deal.
Such buyers are waiting for the bottom of the market that has already passed by them. Home sellers have to wait for a much longer period of time to close a deal during market recession to overcome unrealistic pricing strategy.
(16) Real Estate Agents Are Struggling For Survival
It is one of the most authentic dirty secrets your real estate broker will never tell you. Residential & commercial real estate agents are facing stiff competition among themselves.
It is due to limited number of home buyers & sellers as compared to the number of real estate agents in a particular state or region.
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