Negotiating with a Miami Real Estate Agent
Miami is by far one of the best destinations for real estate. This paradise in Florida is surrounded with beautiful beaches, tropical climate and is home to one of the friendliest people in the country. It’s an awesome place to invest in a real estate business.
It is to know that the real estate properties in Miami aren’t that cheap. However, with the right real estate agent and with some good background knowledge of how real estate works in Miami, one can definitely find the right property that suits the pocket.
Not many people are known to the fact that if you have the required skills, you can negotiate the rates of a Miami real estate property. There are a handful ways on how you can go about doing this. One should feel at ease while asking his/her real estate agent to lower the fees. This is totally acceptable. However, it’s always a good idea to know beforehand how the commissions are earned so that both of you can come to a conclusion with the fee that is fair on both the sides.
First, you have to determine the split. Some of the real estate brokers give 50% commission to their agents. In some cases though, it can be more than 50% if the agent has a lot of experience. It’s crucial for you to know how much share does the agent have so that you can do your calculations and negotiate accordingly.
Once you understand this, you are clearer towards how the commission process works. Now, it’s time to start the negotiation process. Here are a few ways as to how you can make an agent come down on his/her commission with you:
- Ask the agent to help you in selling your old house along with helping you in buying the new one. This way, the agent will be able to earn commission both ways and will be able to provide you with certain discounts.
- Make an agreement that you will buy your new home through the same agent.
- You can present an offer of listing multiple properties if you have a lot of them.
The idea is to make your real estate agent feel that you are there to give nothing but profit. Also, you can communicate with the other real estate agencies in the market and if they are offering a cheaper service or rates, you can use that as a strong point of negotiation with your agent.
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