For examples, Real estate agents in New York City alone are about 27,000 as compared to average of around 12,598 contracts in a year. This indicates that majority of real estate agents didn’t get housing deals.
(17) Web Listings Are Often False or Misleading
It is one of the most significant dirty secrets your real estate broker will never tell you. Real estate agents are often listing property for sale with very attractive images of mind blowing interiors.
Such beautiful images of house are easily available anywhere around the world through various sources or photo-sharing websites.
Sometimes, they also keep up a listing that has been on market for sale a long time before. But, even if such property for sale is not available now due to closing of a deal or if the current status has changed.
These property agents never remove such false house listing with misleading facts just to attract buyers for another house.
(18) Pocket Listing Is Not Always Beneficial
It is one of the most common dirty secrets your real estate broker will never tell you. A pocket listing is a form of real estate listing in which a broker usually holds a signed contract with the seller of the house.
This practice provides agents an “Exclusive Right to Sell” or “Exclusive Listing” contract to sell a house with limited advertising for an agreed-upon period of time.
Pocket listing agreement prevents listing of real estates for sale in a Multiple Listing Service (MLS). This secret sale concept mainly designed to get higher valuations for a property as well as to get serious buyers only.
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