The Real Estate business is one of the most craziest businesses I ve ever seen. All these people really do is have HUGE telephone bills and manipulate...the customer. They are supposed to just evaluate the market and be ready for any questions from a potential buyer or investor but they actually go much farther than that.
A real estate guy might say that he is getting only 2% from the deal you make but that is at least 4% as he said the same to the other party as well. There is a buyer and there is a seller. So if a property is sold for 100,000 he actually made 4,000 and not 2,000 as he claims. He got 2k from the buyer and 2k from the seller. Not bad eh? Considering the fact that all he did was make two parties meet and do the deal. By the way the deals are made in at least 8 digits these days...when we talk about the current market in Pakistan...
All the above sounds pretty normal doesnt it? It gets nasty when they try to manipulate you. An average person would do a property deal in what 5 years on the average at least. So you can't expect him to know how the market is doing or what the property values. You trust your estate agent. Unfortunately, they use that to their advantage.
I can bet most people will agree that you can never get the BEST price through a Real Estate Agent. It may be a good price but it will never be the BEST price, it just can never be. I think its cos BEST is a relative term depending on who's perspective it is.
Whenever you go to sell your property you get things like 'Oh the market is down these days...' and if you are a buyer.... 'Oh prices are on a hike!!...' Its just so confusing. I am at the start of building up serious life and when it comes to finances I am at my first BIG BUY state as I call it. So all i see around me is that prices are so high and everything. I dont see myself ever making that BIG BUY...will the price ever come down?? How does anybody make that BIG BUY?? My father says...you need one good break and that doesnt really come unless you go against your will...he says people who actually make their own home either get it from inheritance....or they make at least one crooked thing to make the break....it doesnt have to be a ROBBERY...hehe...its just something that the person wouldnt normally do....
There are also real estate agents who work on MAKE CUSTOMERS strategy...they will get a person a BIG BREAK on his first deal and make up on every next one...only the first deal is the GREAT one....the rest are just average...ones...
Its a complex story...and a complex business....still waiting for the BIG BREAK...to get some lumpsome cash in hand...lets see....what develops...
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