As real estate prices continue to soar in Metro Vancouver a new survey of U.S. realtors is providing some insider secrets and insight on how to negotiate the best deal when buying or selling a home.

The Consumer Reports survey of more than 300 American real estate agents found 86 per cent of those polled say they’ve seen other agents engage in poor business practices.

At the top of the list: steering buyers toward a home that would result in higher commissions. Twenty-seven-per-cent say they’ve seen other agents convince a client to sell a home for less than it’s worth.

Consumer Reports says don’t hire the first agent you meet. Interview at least three, and check references.

If you’re selling a house, don’t overpay the agent’s commission. The survey found that more than 60 per cent are willing to negotiate at least half the time.

When it comes to other costs, be conservative with your estimates. A third of agents surveyed said buyers get into trouble by underestimating what it costs to buy and own a home.

“It’s not just about your monthly mortgage payment. When you’re buying a home, you have to think about paying a lawyer, your closing costs, and the title search. And then there are the ongoing costs of home ownership, such as taxes and utilities,” said Mandy Walker of Consumer Reports. 

In B.C. buyers also have to pay the Property Transfer Tax (PTT), which is charged calculated on the property’s purchase price.

A $500,000 property would be subject to a total tax of $8,000.

Finally, don’t skip the home inspection. More than a quarter of agents say that not getting an inspection can be one of the more costly mistakes.