Buying or selling homes is a daunting task made easier with the guidance of a right real estate agent. However, sometimes the agents can make your work much more challenging if they do not perform their job properly. Watch out for these red flags to know it is time to hire another one:
Real estate agent’s job is to help you buy/sell the house in your best interest. It is not necessarily the estate agent’s fault if the property is not selling or if you, as buyer, are not able to find the right house. However, you would at least expect the agent to keep you posted at regular intervals about how things are proceeding at his end. Coming late for appointments, not answering the calls or texts, not maintaining proper paperwork for the various transactions, missing deadlines, changing broker fees frequently, going on a vacation/leave without informing is totally unethical. These are the signs of negligent, inefficient and unworthy person and you should get rid of him at the earliest.
In today’s era of internet, information can be spread across at a very fast pace. As a professional agent, your realtor’s job is to market your house as much as he can and wherever possibly he can. Putting up a sign in the front yard and multiple listing service (MLS) is not sufficient. There are a number of websites online for buying/selling properties. Maximum number of buyers and sellers check online options for their houses. Your agent should put up a nice description and photos of your property online on various websites, and send flyers through local newspaper or to the houses in that area. If he is not doing all this, what are you paying him for?
As a buyer or seller, you would want your agent to update you about everything related to the deal. If your agent hasn’t contacted you for more than week, it’s a sign of concern. You have hired him to work for you, not the other way around. So it’s his responsibility to inform you regardless of a deal. If a prospective buyer visited your house, you would want to know what they think about it. No communication means incompetence and lack of interest in your projects.
If your agent is trying to rush you into finalizing a deal that you are not comfortable with, walk away. There is no reason, apart from his personal interests (mostly the commission an agent gets from another brokerage), in making you buying one particular house over the other. If you are not satisfied with the deal, do not give in. The realtor should be an advisor to you, not a car salesman pitching to buy the top end car in his dealership.
A real estate agent is an expert, who takes the lead on the project and provides reasonable advice to both the parties. His motive should be to satisfy the requirements of the seller and the buyer to their best interests. He should be confident enough to know what he is providing the party with. If he gives in while you negotiate his fees, chances are steep that he’ll do the same when it comes to selling your house. He needs to be a good negotiator. If your agent is asking you for the selling price of the house and puts it on sale for the same quote, instead of doing some research to arrive at the right price, it’s time you to let go of him.
Keeping in mind the above caution signs, you should be able to identify a good realtor from a bad one.
Feel free to Subscribe to our PropertyCluster Blog to stay up to date with our latest posts and information on Real Estate Industry or you can Follow Us on Facebook, Twitter, Pinterest and Google Plus for regular updates.