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8 things your real estate agent cant tell you.
1. What Your Agent Can’t Tell You
8 Things Your Real Estate Agent Can’t Tell You
livinginnc.com/real-estate-blog/8-things-your-real-estate-agent-cant-tell-you/
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The typical real estate transaction involves a seller, their real estate agent who is the listing agent and a buyer, their
agent who is known as the buyer’s agent. It is not always this way for example in a dual agency situation the real
estate agent represents both the buyer and the seller! If the seller is doing a for sale by owner, there might only be
one real estate agent who is representing the buyer. Either way there are lots of things your agent can’t tell you, it
could be the law, required by their governing body or they just don’t know and are not expected to know. Agents
should do their due diligence to protect their clients and find out as much relevant information to the transaction as
possible and there are somethings you may never know or only find out after you sell or buy your house.
1. Why The Sellers are Selling.
A common question agents get asked when showing homes
to buyers is “Why are they Selling?” If the agent is not the
listing agent they would have no way of knowing why the
home is for sale. It might be a situation where the sellers
are being relocated in which case the listing agent might
note that. Why they are selling could remain a mystery until
the closing and even then you may not ever know. They
could be getting a divorce, going through some financial
difficulty or just looking to move up to a bigger home or
downsize to something. Sometimes the listing agent might
mention “Motivated Seller” in the remarks which may give
some indication, if the house is vacant or looks like there is
a caretaker arrangement going on. It may help buyers to
come up with a price to offer if they know why the sellers
are selling but at the end of the day it really doesn’t matter why they are selling. You should make your offer based
on a comparison market analysis and what your budget dictates.
2. How much they owe on the house.
Anyone can see how much people paid for a house by using the county or city records and your agent can use the
Multiple Listing Service. They can see when it was purchased by the sellers and what the loan amount was. It’s
impossible to truly know what they actually owe on the house.They may have taken out a loan or refinanced and
rolled the closing costs into that loan. It’s possible they owe more on the house than it is worth or their real estate
agency fees are more than the market price of the home. They may own it free and clear or they they owe gambling
debts and the house is collateral. Again as mentioned above it shouldn’t affect what you offer for the house.You can
always go on Zillow and get completely incorrect information about any house out there that will do you no good
whatsoever.
3. Where The Property Lines Are.
The only way to know the exact property corners and lot lines is to have a survey done. You can guess all you want
but you have no way of knowing if that pin is in the right spot. Now you can sometimes make a pretty educated
guess if you find the pins and you have the lot line measurements and the GIS image… it only becomes a problem
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4. What is Dual Agency In Real Estate by Kyle Hiscock
What Is A HOA Special Assessment by Debbie Drummond
Real Estate Scams To Watch For by Paul Sian
Want To Learn More?
Chat with David!
(919) 601-2268
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