Top-4-Secrets-No-Real-Estate-Broker-Will-Tell-You

Top 4 Secrets No Real Estate Broker Will Tell You

Knowing Where They’re Coming From To Maximize Potential

Knowing Where They’re Coming From To Maximize Potential

Realty professionals can still be a necessary component to any community, even in the age of tech; but they’re human beings, and that means they are subject to all which defines humanity. This has positive and negative aspects.

Leverage is a key component to a successful realty career. Some leverage comes from simply paying the price to see national listings, and some comes from data control. Much of the information real estate brokers use to facilitate personal success is data you have availability to.

Acquisition and sale of a property is publicly recorded at your local courthouse, in most cities; you can just walk in and explore the information. But where do you look? That’s where the realtor has an advantage.

Following we’ll explore four “open secrets” that define realty to help you get an idea where they’re coming from, and where many homeowners often “miss the boat”, as it were, about what’s available, and how best to maximize property advantage in a given community.

Realtors Use The Same Data You Have Access To

Realtors Use The Same Data You Have Access To
One of the ways realtors determine what buying and selling trends are in the market involves examining data from moving companies. Such information represents a fine migratory datapoint from which inferences can be made about market trends as a whole. Ten people moving residences in terms of real estate acquisition represent X amount of renters, etc.

With that in mind, here’s a link to some data from Atlas moving company. Realtors use this sort of data to collaterally identify “hot” markets and those which are in decline. Pay close attention to Idaho; they’re “hot” right now.

Realtors Say They Follow The Rules – Some Do

Realtors Say They Follow The Rules – Some Do
Realtors will tell you they’re not allowed to inform buyers as pertain to offers given by other potential buyers on the same property—especially as regards foreclosures and the like. They will swear up and down that this information isn’t shared. Perhaps it isn’t—to those who could cause realtors trouble. Certainly, some realtors follow the rules. Do they all?

That’s a tough question. Assuming they do all follow the rules, as they say, it’s still a wise move to not lean on their word entirely. Human nature is human nature. Keep your cards close to your chest when you’re making an offer, and be explicit about not disclosing your identity to agencies responsible for selling properties—especially in smaller communities.

Essentially, you’re dealing with salespeople that are managing long-term sales which generally take about three months to complete. The realtor’s paycheck is commonly commission. So for one thing, they’re likely going to advise sellers not to increase prices, as it’s a long step between their work and their pay.

For sellers, they’re going to find deals and hook up their friends in ways that are perhaps invisible except to others in the profession. Not all realtors are this way. Some are. So whenever you’re seriously considering a property, be as tight-lipped as you can about your personal information.

Utilizing Multi-Listing Services Or MLS

Utilizing Multi-Listing Services Or MLS
Multi-Listing Services, or MLS as the abbreviation goes, refers to online and other property advertisement avenues which put your property in front of more eyes. Enhanced visibility expedites sales.
Realty agencies will use such services, and new homeowners who don’t realize that they can simply list among MLS options themselves will work with realtors when they may not necessarily have to. The MLS component can do a lot to propound property visibility; ISoldMyHouse.com wrote a blog post on the subject worth exploring.

Tax Liens And Sheriff Auctions

Tax Liens And Sheriff Auctions
Looking to flip a house? Get a letter of pre-authorization from your local bank to show you have proper assets, then figure out when sheriff auctions are. Sometimes there will be tax lien opportunities as well. When someone is forced into foreclosure, arrested, or in a situation where unpaid taxes define a property, you can pick that property up for a fraction of its value.
Such properties may not be what you really want; but if you can turn them around and sell at a profit, suddenly you’ve got notable capital with which to work, and you’ll get noticed by bankers, who may “let you in” on opportunities in the near future, knowing you can represent a profitable advantage for them collaterally.

Using The Information Realty Professionals Know That You Don’t

Using The Information Realty Professionals Know That You Don’t
Tax liens, sheriff auctions, MLS services, privileged information access, and statistical exploration of available data represent key tools savvy realtors use for profit.
You can use this information, too; it’ll just require research into local markets. Perhaps going with a realtor may be wise, but if you’re savvy, you can sell or acquire property without them.