Buying and selling a property is a lengthy process, and it usually cannot be handled alone. When it comes to support, many institutional agents or independently working realtors are available to ensure that the process is smooth. The right agents have the appropriate knowledge, skills, and experience to provide the help you need. They can help make the deal quicker and better. However, not all agents are honest hard workers. Indeed, there are institutional and independent agents that work suspiciously. Before picking an agent, you should look out for these red flags so that both your time and money are saved.
When Pricing Does Not Make Sense
The right agent will sell your property faster or take you to your dream home at the right price, at the right time. He will have excellent negotiation skills and offer valuable insight into the real estate market prices. When you talk to several potential agents, you will notice that their stated prices will be quite similar. When sifting through them, try to note who is stating suspiciously high prices that could be too unrealistic for the market. If an agent is offering a price that does not seem honest to you, trust your instincts. Don’t be impatient and sign-up agents right away. You will soon enough find the right agent for you!
When Agents are Hiding Information
You should expect a high level of professionalism, business acumen, and integrity from a real estate agent. A good agent will take care of things in such a manner that you will not have to keep an eye on everything. A shady agent on the other hand, will hide things from you. For example, a shady agent can sell one property to three different people and get away with the money paid to them. Next thing you know, they are never seen or heard again. Cases like these in our cities happen because people blindly trust agents who maybe hiding critical information. Such agents tend to hide the original price of a property and offer unrealistic prices, or lie about how long the property is on the listing. In fact, the longer a property is available on the market, the more tendency of buyers to think that something is wrong with that property. This is exactly why buyers should always get a professional home inspection done.
With the advent of social media and digital real estate platforms, information is more accessible and available nowadays. This means you can scout out the best real estate agents very quickly, but you should not believe everything you see online. It is easier to get blinded by amazing presentations and listings. Since you will be trusting the agent for a long time, if things don’t work out in the beginning or start on a wrong note, you should move on to find another agent.
When Agents Cannot Answer You
An agent knows his properties, his locations, and market trends. Therefore, a good one will proactively support you and guide you, answering all your questions. You should not be nervous either. Whether you are a buyer or seller, confidently ask away your queries. Ask agents about how long they have been working on the field, how many homes they helped buy and sell so far, and how good they are with documents. It is better to be safe than sorry with an agent that does not answer much. As a seller, do ask how they intend to sell your home and connect with potential buyers. If you are a buyer, ask them how they will hunt your desired property and what commission they will take as per the brokerage agreement. Only when you are satisfied with the answers, you should go ahead with that agent.
When Things are Stagnant
Although agents are supposed to swiftly help you in buying or selling a property, sometimes the opposite happens. Months can pass by after signing the brokerage agreement and the process still might not be complete. This is a possible red flag for many reasons. It could be that the agent may not be as much of an expert he claimed to be, or he does not have much in-depth knowledge of the real estate market as you hoped. A good agent will regularly keep in touch, let you know his whereabouts and what he is up to. He will know the neighborhood, the prices, and everything needed to talk with authorities. When the buy or sell process is still for a long period of time the agent can come up with plenty of excuses. It is better to not give them that scope. Therefore, ask your family and friends, or the residents of your desired neighborhood to scout for reliable agents working in that area.
Say an agent is perfectly honest and doing all the work for you, but still things are quite slow. The reason could be that the agent has plenty of other side businesses. This is especially true for individually working agents. Therefore, it might be better in some cases to contact professional, institutional agents who show more responsibility and accountability. Institutional agents also have links with many home financing institutions and banks, so they can get home loan support for you easily.
When Agents Don’t Have the Expertise You Need
Last but not least, not all agents will work out for you even if they are the best in their fields. Agents who are used to selling luxury homes may have difficulty selling a suburban home, and vice versa. Agents who prefer to sell commercial properties will have trouble selling residential properties. Based on references from family and friends or your neighbors, even if you get an amazing agent, you should still do a background check and find out their expertise. Often agents can boldly claim of being able to sell or buy properties they are little familiar with, simply because of their years of experience. If you own a holiday home and want to sell it, try to find an expert agent who specializes in selling holiday homes.
Weed your way through agents always. By spotting these red flags you can find proactive, professional, and appropriate agents suited to your property needs. Don’t let any agent make you question your instincts. Choose an agent that supports you and maintains a cordial, honest relationship with you throughout the buy or sell process. A good agent will know that if they can win your heart, they can win others and work on many other properties!