Moving from one home to another is an exciting time. Whether you’re moving down the street or across the country, big changes are in your future. However, the process of buying a new home or selling your current one isn’t without stressors. When you’re selling or buying a home, your real estate agent is an integral part of the process. Unfortunately, the wrong real estate agent won’t have your best interest in mind. Working with an inexperienced or dishonest real estate agent can mean more than having a poor experience. It can cost you money and even lead you to a home purchase you wouldn’t have originally considered.
If you’re searching for a real estate agent or are feeling unsure about the one you hired, watch for these 10 red flags you’re working with the wrong real estate agent.
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Working With the Wrong Real Estate Agent When You’re Selling
If you feel woefully unsure about the details that go into selling a home, it’s okay. You’re not a professional in the housing market and you shouldn’t have to embark on a whole new career to learn how to sell your home. In fact, that’s exactly the reason you hire a seller’s real estate agent. Sometimes called a listing agent, a seller’s agent will educate you about the market, help you figure out a good asking price, and make sure qualified buyers see your home. Conversely, a poor seller’s agent might exhibit these 5 behaviors, which are a good sign you should find another real estate agent.
A local seller’s agent should have the knowledge to expertly price, list, and advertise your home. This is not the time to hire your coworker’s cousin who just got a real estate license. When searching for a selling agent, seek a real estate agent that’s been in the business for a few years and has experience selling homes in the area. Watch for these glaring signs of inexperience.
- No reviews, or worse, bad ones
- Real estate is your agent’s side hustle alongside a full-time career
- No initiative or seemingly doesn’t know what to do
- Offers a low commission price (you get what you pay for)
- Pushes you to list a high asking price
- Doesn’t speak the language- Your agent should be familiar with real estate terms and what they mean
When you put your house on the market, your agent should be actively trying to engage buyers and keep you in the loop. A listing agent who doesn’t contact you frequently with news and suggestions is a red flag. Agents shouldn’t ignore you but should return them promptly when missed. If your agent doesn’t contact you to share information about where your home is listed, schedule showings, or answer your questions, you need a better agent.
Suggesting the Wrong Selling Price Means You’re Working With the Wrong Real Estate Agent
A selling price that’s too high means your home will keep sitting on the market. One that’s too low will get you less than your home is actually worth. A selling agent should know the local market and how to respond if your home isn’t selling like others in the area. If your agent ignores the market in favor of impressing you with the promise of a better selling price or selling quickly with lowball offers, they’re not doing the job you paid them for.
Lack of Professionalism
A real estate agent is a professional who should look and act the part. Casual is okay. Friendly is great. However, an agent that doesn’t know the business, is sloppy, or rude is a deal-breaker. Watch out for real estate agents that show these traits.
- Rudeness to you, potential buyers, or the buying agent
- Dirty or sloppy clothing
- Failure to arrive at showings, meetings, or other appointments on time
- Inappropriate language
- Lack of marketing tools or skills
Selling your home is a serious legal transaction and your real estate agent has a duty to help you take care of the sale in an ethical and honest way. If the agent advertises false claims, suggests you lie or fail to disclose information about your home, or exhibits dishonest behavior, it’s time to walk away.
Working With the Wrong Real Estate Agent When You’re Buying
A home purchase is one of the biggest purchases any individual will make in a lifetime. A buyer’s real estate agent should have a clear understanding of the gravity of this purchase and be interested in finding you the home of your dreams. A good buyer’s agent will be attentive and have a firm understanding of what you’re looking for. They take the time to educate you about the market, understand your budget, and help you negotiate a fair price. A poor buyer’s agent often lacks experience and listening skills and exhibits these 5 unwelcome traits.
Poor Listening Skills
More often than not, if your agent keeps showing you homes that don’t match your needs or budget, they’re not interested in you. You’re paying for a service. It’s your agent’s job to listen to you and help you find the home you want. After meeting with you and discussing your budget and needs, your agent should be prepared to suggest homes that fit those parameters. Anything less is unacceptable.
Your agent should display professional behavior around sellers, other agents, and you. While it seems obvious that your agent shouldn’t be rude to sellers and their agents, rudeness to clients can be easily overlooked. Buying a home is exciting, but it also comes with many unexpected circumstances. Your agent should patiently answer any and all questions you have throughout the entire process. An agent who doesn’t understand how you’re feeling about the situation is a bad agent.
This may be a clear sign of inexperience, or it could simply be a lack of confidence. Either way, you shouldn’t have to prod your agent into the steps it takes to find your new home. An agent who looks to you for advice, or waits until you make contact to make a move doesn’t have the experience to help you find a home. If your agent isn’t routinely sharing available listings or offering advice to further your search, you’re not getting the service you paid for and might be missing out on opportunities.
You should never feel pressured by your real estate agent. An agent who pushes you to go outside your budget worries only about a commission and is the wrong real estate agent to work with. Any buying agent worth working with is willing to work at your pace and help you find a home that meets your needs and budget.
The Realtor is the Seller’s Agent
An agent that represents the seller cannot make your best interests a priority. In fact, a seller’s agent must work to provide the seller with the highest dollar for their property. A buyer’s agent must prepare to negotiate the lowest reasonable price for the same property. It only makes sense that a dual agent couldn’t have everyone’s best interests at heart.
Are You Working With the Wrong Real Estate Agent?
The bottom line is, you don’t have to work with a real estate agent that doesn’t perform to your standards. A home sale or purchase has major effects on your future and should be handled with the utmost care. When an agent displays any of the behavior listed above, there’s a good chance you won’t be satisfied with the outcome of your transaction. To learn more about the process of selling or buying a home or the insurance requirements involved with buying, owning, and selling a home, get in touch with the independent insurance experts at LoPriore Insurance Agency.