12 Ways to Get Ripped Off
When You Sell Your Home
You worked hard for
the equity in your home
Why give it away so thoughtlessly?
When you sell your home, your objective is...
...to keep as much of your equity as possible
...to keep as much of your equity as possible
But you probably wont
You will get ripped off
And the worst part is...
...it will be invisible
You will get
ripped off AND
you will never
You will pocket less money from the sale
of your home than you should, BUT...
...you will think you did just fine
The first step to avoiding these rip-offs...
...is to know about them
There are (at least) a dozen ways to get
ripped off when you sell your home
And it is doubtful you know about ALL of them
Make sure you understand them all
Or your hard-earned equity...
1 You Will Choose a Lousy Real Estate AgentStudies* show two thirds of home sellers only speak
with one agent before selecting one. The reason?
Most home sellers have no idea how to tell a good one
from a bad one so why bother interviewing them.
You are going to hire a temp employee and pay them
$10K or $20K or $30K to sell your home. You should
know how to tell a good one from a lousy one.
2 You Think Paying a Real Estate Agent 6% Commission is the Only Choice You Have
Paying a 6% commission to sell your home is THE most
expensive way to sell your home. Other options, such
as flat fee and fee-for-service, will save you a lot of
money. You should not be afraid to consider them.
If you do insist on using a percentage-based
commission, at the very least you should negotiate a
substantially lower rate.
3 You Will Pay Too Much Commission Because You Have No Idea How to Negotiate
If you are like most home sellers, you will invite an agent
into your home to give you a listing presentation.
Towards the end you will feebly attempt to get them to
come down on their commission, but at that point it is too
late. Your window for negotiating has already closed.
Nothing will preserve your home equity better than
understanding how to effectively negotiate a lower
commission with your agent.
4 You Will Pay Too Much Commission Because You Believe the Big Lie
What is the Big Lie? You get what you pay for. Not true.
Research* conducted by Consumer Reports found...
Sellers who paid 3% were just as satisfied as those
who paid 6%.
Paying less did not hurt the quality of service.
Those who paid 6% were more likely to have regrets
about the selling process.
5 You Will Unwittingly Give a Big Chunk of Your Equity to the BuyerToday, it is not uncommon* for buyers agents to give a
portion of their commission (which you pay for) to their
buyer. This helps them attract buyers, but does not do
a thing to sell your home.
This is wasted money, and effectively lowers the
selling price of your home. You need to have a
strategy for how to keep that money for yourself. After
all, its yours.
6 You Do Not Understand the Conflicts of Interest Between You and Your Agent
It is called the Principal-Agent Problem and it causes
good agents to give sellers bad advice. Research*
conducted by two Stanford professors found that agents
distort information to mislead clients. It explains why
agents sell their own homes for 3.7% more than the
sellers they represent.
Smart home sellers know how to eliminate, or at least
reduce, the Principal-Agent Problem.
7 You Have No Idea What a Pocket Listing isA Pocket Listing is when your agent keeps your listing
off the local MLS (Multiple Listing Service). They do
this so they can keep the buyers agents commission.
Research* by San Francisco real estate agents found
that pocket listings, by severely limiting the homes
exposure, can cost home sellers as much as
8 You Will Allow Your Agent to Function as a Dual AgentDual Agency is when your agent also represents the
buyer. You may not think it is a problem, but the consumer
advocate group CAARE calls dual agency The Biggest
Consumer Scam in Real Estate*.
Research** conducted at Cornell University found that
dual agency homes sold for 8% less. That equates to
$24K on a $300,000 home.
9 You Will Pay for a Pre-listing Home InspectionSome real estate agents will try to convince you to pay
for a pre-listing home inspection in the hope that you
will fix any problems that it uncovers. Fixing all the
problems certainly makes the agents job of selling your
Unfortunately, a pre-listing home inspection can never
save you moneyit can only cost you money. Save
your money and let the buyer pay for it. After all, it
benefits them to find hidden problems, not you.
10 You Will Pay for the Buyers Home WarrantyBuyers benefit from a home warranty. Why should the
seller pay for it? Because they provide secret
incentives for real estate agents. Many Realtor
Associations now include a check box for buyers to
select on the purchase agreement requiring the seller
to pay for a home warranty as part of the transaction.
You do not have to agree to this.
Visit RipOffReport.com to see all the problems with
11 You Have No Idea How to Combat Buyer SteeringIn the event you negotiate a less-than-customary
commission (i.e., 6%), some agents representing
buyers will actually try to steer their buyers away from
seeing your home in an effort to punish you for offering
such a commission. And less traffic generally means a
lower sale price.
Even though this behavior is a violation of the Realtor
code of ethics, research* conducted at the University of
Chicago confirms that buyer steering does exist.
12 You Will Use Service Providers Affiliated With Your AgentBy using title and escrow services owned or affiliated
with your agent, not only do you forfeit the opportunity
to shop for a better price, but you destroy the integrity
of these vital checks and balances.
Research* indicates that these affiliated service
providers lead to market manipulation and artificial
price increases that cost consumers in one state an
estimated $100 million.
What will you do to combat them?
How about some education?
I will teach you
how easy it is to
preserve your equity
At a FREE mini course called
The Intelligent Home Seller
Go to End Of Six Percent
Im Carl Weisman and
I help home sellers preserve their hard-earned equity
Why do I do that?
Im sick and tired of home sellers being intimidated into
squandering away their equity due to an abundance of fear and a
lack of education