With the spike in online real estate information and communication forums, individuals are finding it easier than ever to connect with a real estate agent. This can be extremely convenient, however, it’s important that you meet your agent in person. There are some red flags that you want to look out for when selecting the perfect real estate agent for your buying or selling needs.
For those of you who are selling your home, there is a major pitfall you need to look out for in a selling agent. You should start by receiving a pricing presentation from at least three different agents. The agent that suggests you sell your home for the highest price is the one you should avoid hiring. While it may sound enticing to get such a high value for your home, it’s important to come back to reality. If two other agents are telling you a cheaper price but are close to each other’s prices, then it’s likely your home is going to be sold in that cheaper range.
All agents have the same data, such as the price of other similar homes sold in the market. You should be getting a similar price from each agent. It’s important to note that from a buyer’s perspective, listing your home for an exceedingly higher value than it’s actually worth, is a big red flag. Most won’t even contact you because they believe you’re not being realistic and won’t negotiate on the price. This typically leads to your home sitting on the market for a long time. As time on the market increases, regardless of how much you decrease the asking price, prospective buyers are likely to avoid your property as they may believe others haven’t bought it because there is something wrong with it.
It’s no secret that real estate agents make commissions on the transactions they do. Their large commission checks can be a draw for some people as they take up real estate in their spare time. You should never settle for a part-time real estate agent. You want an agent who is active in the market as they’ll be able to provide you with inside knowledge about the area and the homes. Time is of the essence when it comes to real estate. You want an agent that will be able to show your home or set up showings for new listings you want to look at.
The last mistake you want to avoid when selecting a real estate agent is picking one who doesn’t actually specialize in the type of real estate you want to purchase. If you’re looking for a residential property, you don’t want to be dealing with a commercial real estate agent. The converse applies here too. Stick to finding an agent that is active in the particular market of properties that you’re looking to purchase or sell. You should take location into consideration as well. If you’re looking to buy or sell a property in Eau Claire, you want to hire an Eau Claire realty company.
There are many mistakes that can be made when hiring a real estate agent. As many potential homeowners are not completely familiar with the entire buying or selling process, it can seem like an uphill battle. However, by avoiding the major mistakes mentioned above, you can set yourself up for hiring the right agent to fit your needs.