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10 Unforgivable Sins Of REAL ESTATE AGENT

This article is not about the secrets of buying a rental property for no money down and half the price of the market value of the home. I am not Tom Vu or Don Lapre and I'm not in jail.


In Canada, the no money down home did use to exist, but not anymore. Some banks and/or lenders were ready to lend you the 5% down payment so that you don't have to pay a dime out of your own pockets to purchase a house. However, given the current finances with tighter lending restrictions, you will have no bank or lenders who can do that in Canada.


The buying home for half price did use to exist as well. At one point, foreclosures in Canada would allow foreclosed homes to be sold at very cheap prices. The new law, which includes been in placed for several years now require the homes be sold at the highest possible price for foreclosed homes or else the lenders could be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a excellent deal causing it to get a reverse affect. There were lots of people buying foreclosed homes believing they got much and not performing a thorough check regarding the actual value of the home.


Now, clearing out the quick money maker myths of shopping for homes, there are still many things you need to be aware of before starting.


If there exist ever an industry with more sneaky sales tactics and money motivated people, it's got to the true Estate industry. As a buyer, you will be dishing out $350 000 and everyone wants a bit. The Real Estate Agents want a piece. Lenders want a bit. The lawyers want a piece and the sellers want piece. No wonder there are so many scams in this industry.


The first thing to be aware of is the AGENT. A Real Estate Agent is suppose to act on your behalf to buy or sell the home. Both the buyer of the house and seller of the house will have their own Real Estate Agent called a Buyer's Real Estate Agent and a Seller's Real Estate Agent.


In Canada, each AGENT gets an average of 2.5% and sometimes 2% for the commission of selling the house. Some Real Estate Agents provide cash back rewards. Canadian REALTORS gets higher commission than somewhere else. In United States, their REALTORS only get 1% of the commission and their homes are in fact much cheaper. Santa Rosalia Lake & Life Resort Even though REALTORS are the least educated of the parties mixed up in buying home transaction, they seem to be getting the biggest little bit of the pie.


Do not pay attention to their gimmicks on REALTORS are ethical. (http://www.howrealtorshelp.ca) Where do they get the idea any Real Estate Agent off the street is ethical. Their claim is founded on these tests that they pass to become a AGENT. Agents passing a test does not meant hey are ethical. It only means they can remember enough to pass the test.


One would believe it should be the Real Estate Agent's job to greatly help the buyer ensure the home is of value. Rightly so, many buyers be determined by the Real Estate Agent to protect them and offer them advice and for me, the ethical Real Estate Agent should do that. However, the real reality is that Real Estate Agents do not earn money unless if the home is purchased. The reality is that the Real Estate Agent's salary is not truly dependent on giving you advice. The Real Estate Agent's job is to get the buyer to buy a home through them to allow them to get paid!


As a result of this, what eventually ends up happening, are two types of REALTORS with variations in between. The first type may be the honest agent with the belief "EASILY work hard and treat my buyer right, the buyer will come back again to buy more homes from me. The next type is the "I need to get the buyer to buy a house quickly in order that I can move on to the next buyer (sucker) so that I can maximize my time for profit." The end result is that you are searching for the first type and you also want to avoid the second type.


We'll call the initial type, the Bad Real Estate Agent. We'll call the next type, the Good AGENT.


So what kind of characteristics does the Good AGENT have that the Good Real Estate Agent does not have?


1. The initial characteristic is Patience. Bad Real Estate Agents will attempt to sell you a house quickly to find the money quickly. Do not buy a house without spending considerable time looking at a number of different homes. Be careful of tactics such as Real Estate Agents claiming it's the perfect and acting just like a salesman rather than offering you information.

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