Real Estate Agent Red Flags: What to Watch For
Choosing the right real estate agents is one of the most challenging parts of the buying and selling process for families. Being paired with the wrong agent could mean missing out on the perfect property in your home search or not getting your property listed to the right buyers due to a poor communication or a bad fit. Not all agents are made equal and sometimes people make the mistake of choosing an agent based on a quick internet search or based on someone a friend had a good outcome with.
Rather than hope for the best and risk a situation where you are stuck doing most of the heavy lifting, why not let a professional referral service get you matched up with the right fit the first time? If you haven’t done this yet, you may have met agents that have sent you some of these red flags that you’ll want to avoid in any real estate agent you work with.
Working with a relative
While sometimes you can work with a relative who is a top-notch agent and very familiar with the area you are looking to live in, most likely you are going to end up resenting one another for difficult demands, not seeing eye-to-eye, or ending up with a transaction you aren’t completely satisfied with.
An agent that lacks negotiation skills or misses details
If you’ve found an agent that seemed great until it came time to negotiate, you may have found a bad apple. Look out for an agent that doesn’t negotiate well and doesn’t keep up with details of the transaction.
Closing the sale is the main job for an agent which means he or she should be on top of accurate appraisals, confirming mortgage pre-approvals for buyers, checking for liens on homes before entering the market, and finding out about issues from the inspection.
Not being familiar with your neighborhood, the current market conditions there, and your price range
Have you found yourself with an agent that is not used to working with your price point? Perhaps you are looking for luxury listings and your agent is used to working with budget-friendly listings. If your agent isn’t used to buyers in your price range, the neighborhood you’re interested in, or the current real estate landscape there, you are likely going to end up missing out on opportunities with an incompetent agent.
Money matters
It’s important to look out for a few red flags when it comes to the financial elements of the process. For example, did an agent try to sell your house for way too high of a price? If you are buying, did you come across an agent whose face would show up on online listings to try to appear as a neighborhood expert but is really just doing so to get paid extra?
In your search to find the right agent in your buying or selling process, be sure to avoid these red flags of agents and work with a professional referral service to make sure you are paired with the perfect match for you.