Selling Your Home? Don'T Forget To Meet With The Broker

Posted on: 7 December 2016

If you are selling your home, odds are good you have a real estate agent helping you. However, it is important to know that each agent must work under and with a real estate broker. A broker has been in the business for a number of years, has much more experience, and has more schooling. To become a broker, one must not only take the classes but also pass a state exam. Many people may never meet with the broker, however here are a few reasons you should make an appointment to meet with this person in charge of the office that will be handling your real estate deal.

Deposits

If someone is interested in your home and puts a deposit or earnest money down to keep someone else from buying the place before a deal is agreed to, the broker is the person responsible for the funds. He or she will put the money in an escrow account that can only be touched if no deal is reached, if there is no financing obtained, or at settlement. Since this might be a large amount of money, it would be good to feel confident and secure regarding the person handling it.

Agent Problems

It will be easier to talk with the broker if you are having a problem with the agent and you have already met him or her. It could be something as simple as having the broker talk to the agent about staying in contact with you. It could also be as serious as an agent that does not present you with all offers or is trying to cover up different problems with your home when presenting it to potential buyers. Do not feel like you are being a tattletale; this is your money, your home, and part of your future the agent is dealing with. You have the right to the best services possible.

Commissions

Many people do not realize it is possible to negotiate the commission for the sale of their home. When you sign a contract, there will be a specified percentage of the sale that will be the fee for the agent's work. If the buyer is using a different agent, the fee will be split between the two. It should also be noted that the broker takes a portion of the fee. You can ask the agent to lower his or her percentage of the fee, especially if there is not another agent involved. You can also ask the broker to lower his or her fee, especially when there is another agent involved so your agent will not be receiving as much.

A broker has more knowledge about real estate than an agent. Take advantage of this knowledge and do not be afraid to make an appointment with him or her when you have a question the agent cannot answer. After all, you are paying the broker too.

Share