In this lagging economy, everyone is trying to save money. For this reason, many advertisers are appealing to consumers in new ways which make them really think about how they are spending their hard-earned money. Think of Wal-Marts new tagline, for example: Save Money. Live Better. We all want our dollar to stretch as far as it can go. It is no different from small purchases like groceries to big expenses such as the purchase of a home. When hiring a real estate agent or broker, do not be afraid to negotiate fees to save money on the transaction. Many brokers fees are not written in stone and they will be willing to come down a little for the sake of having your business.
Interesting Information from Consumer Reports
An actual study released this month by Consumer Reports turned up some interesting information. According to the study, seventy one percent of buyers who tried to negotiate Dallas Real Estate broker fees were successful. One of the most interesting facts however, is that less than half of buyers overall even tried to negotiate those fees. The study also showed that buyer satisfaction was no different whether they paid a smaller percentage, such as three percent, than those who paid around six percent to their brokers. In fact, the study indicated that home buyers who did pay a higher percentage would be more prone to experiencing feelings of regret about their experience.
Which Dallas Real Estate Brokers Are More Likely to Negotiate Fees?
This is a good question to ask when you decide to hire a Dallas real estate agent or broker. It is more likely for an independent agent or broker to be open to fee negotiation than one who works for a large company. This is because independent agents and brokers keep their entire commission, while those who work for bigger companies must share their commission. That doesnt mean that agents or brokers who work for a company such as Re/Max have fees that are set in stone. Sometimes just by asking, you can negotiate a lower fee.
Negotiating Fees Works for both Buyers and Sellers
Sellers can also negotiate fees with Dallas real estate brokers. Their best chance however, is to have a property to sell which is in great condition and one that is priced aggressively to sell quickly. A broker will be much happier to negotiate when a home can sell within one month instead of within six months. When the real estate market is not what it used to be, those in the business need to be flexible to continue to make money. This is one of the reasons that some brokers are willing to lower their fees when asked by a home seller.
The bottom line is, do not be afraid to ask. Buying a home is a costly process where you will definitely want to try to save wherever possible. If selling a home, you want to make sure to keep as much money from the sale as possible. A good broker or agent is one that is flexible and willing to work with you on terms that you both can agree to.