The National Association of Realtors has 1.3 million members. That’s an overwhelming amount of realtors to choose from when buying or selling a home.
We are going to show you how to choose a real estate agent. With these eight tips, you’ll know what to look for in a realtor so you don’t choose a bad realtor.
1. They Don’t Return Your Phone Calls
One of the quickest ways a real estate deal can die is if phone calls are not returned. In a highly competitive market, you need your agent to act quickly.
If your agent isn’t returning your calls or taking forever to respond this does not bode well for the future of your relationship. You want an agent that can communicate with you in a timely manner.
You Want to Make an Offer
Let’s say that you and your agent go out and look at a bunch of homes. You part ways and take the next few hours to review the homes.
You narrow down your choice and call the agent with which home you’d like to make an offer on. You then begin the waiting game for the agent to call back.
If the agent never calls you back, then they can’t submit the offer. They won’t know the details to be able to submit anything.
If no offer is submitted then time goes by and it becomes more likely that someone else will submit an offer. Now you’ve lost your dream home.
You Want to Sell Your Home
Potential buyers will submit offers that are usually open for twenty-four hours. You need an agent that will promptly respond to any questions you may have.
If you can’t get your questions answered, you are missing out on important information that may influence your decision to accept or reject the offer. Once the time limit expires, the offer is closed.
Once an offer is closed you cannot get it back unless the potential buyer agrees to reopen it. Your agent will be killing deals before they have a chance to form.
2. Missed the Boat on Technology
With the majority of home buyers starting their search online, great pictures and embracing new technology are key. An agent who is using old photography equipment isn’t putting your home in the best light.
Electronic documents are convenient and an accepted method of legal signature. These types of documents can be prepared in a fraction of the time of traditional paper documents.
Electronic documents also allow for buyers and sellers to be anywhere in the world and still sign. This gives you the freedom to get the deal done without the complication of meeting in person.
3. They Accept Any Price to List or Offer
A good agent is going to have their finger on the pulse of the market. They will know how to realistically price a home for it to sell.
An agent that lets you price your home too high will result in your home being on the market for too long. This results in more drastic price cuts to get it to move.
An agent that lets you offer too low on a home and you run the risk of the seller ignoring you completely. Look for an agent who isn’t afraid to give you the hard truth about pricing.
4. Poor Negotiation Skills
You want an agent that has your best interests in mind and can negotiate for them. This may mean negotiating the actual price of the home.
It can also mean getting creative to find a comparable solution for repair issues, contingencies, and other issues. It is rare you will find a home that is perfect in every way.
A good negotiator will ensure you don’t pay too much for your home. The will also protect a seller from losing out on a deal.
There is a staggering amount of paperwork that is required to buy/sell a home. Your agent is handling your transaction plus the rest of their inventory and clients.
An agent who is not organized will miss out on an important contract date or requirement. This could result in your losing a deposit or being committed to a deal you don’t want.
6. They Don’t Use All of Their Resources
A good agent will have a strong network and multiple avenues for selling a home. If the agent you are using puts out a sign and lists your home on the MLS you are in trouble.
Interview multiple agents before you decide which one you want to use. Ask the agents how they plan to market your property.
7. They Get Super Pushy
Do not let an agent push you into something you are not comfortable with. It is an industry standard to not try to force people to do or not do something.
Remember that this is your money on the line. The agent’s job is to guide you towards your end goal, within reason.
If your agent tries to force you or gives you ultimatums, walk away immediately. Find an agent that will present the options, offer advice, and let you make the ultimate decision.
8. They are Desperate
No one like the reek of desperation. These desperate agents will tell you anything you want to hear to get you to buy or sell.
This is dangerous as you will end up in a situation you don’t want to be in. This means pricing your home higher than appropriate.
This also could be telling you anything you need to hear to agree to buy a listing. Desperation leads to poor decision making.
What to Do When You’ve Hired a Bad Realtor
So you didn’t pay attention to the warnings signs and now you have a bad realtor. You need to review your agreement first.
Check for how long you’ve signed the agreement for. Look for any commissions you might owe.
Express your displeasure to the agent. Some agents may let you break the agreement, some won’t.
Some agents might also ask you to pay a penalty to be released.
Whatever your situation, when you find that your agent is not communicating, disorganized, not negotiating well, or pricing wrong you need to act quickly to change the situation. The most important thing is this is your money and home.