So, you always hear about how things are done differently in the motherland? Well, that is definitely true. The problem is sometimes, we don’t always know what is normal verses a hustle. And coming from placing that hustled every dollar and dime, we are naturally cautious about things that we are not comfortable with. Momma didn’t raise no fool!! And act of house hunting falls right into that cautionary space.
So we are going to see we can break down a few questionable things you may run into . After this you can breathe a bit easier and focus on finding a place you can call home.
First, is it absolutely customary for the realtor to charge you to look at homes and even ask for gas money (unless you provide the transportation). Look at it as the fact that the realtor is not guaranteed a sale for his/her time…therefore, some ask you to provide a small day rate to see locations. This is normal. Just like the saying time is money and well here…someone’s time is exchanged with payment.
Second, realtors will charge a commission to you on the rental or space you buy. How much? We don’t know, and there is not a set number. It varies from agent to agent. So it is important to negotiate that amount ahead of time. I’ve been in situations when someone quoted me 50 percent, but we quickly negotiated it to 20 percent of one month’s rent. It’s really all over the place, so you want to avoid misunderstandings sand have this conversation upfront. And you need to initiate the conversation because they may not, but the expectation will be there.
Third, realtors will charge both the landlord and you for the work they do. They receive a commission from both parties and is how they make their money. Even if you and the landlord do all the negotiating yourselves…the realtor will still expect a payment from both parties. Kind of like a connecting fee. Also know, you can work with the landlord directly once you show that you are interested, the realtor isn’t the best representation for making the negotiations, repairs or even representing the property. They are just a middle man.
Overall, you have the right to ask questions…leave a comment below or talk to people who been through the process, they should guide you properly. There are a few unwritten rules so we hope here at My Cousin Connection we can help prepare you so you can focus on finding a home that you will love!.