Thursday, November 6, 2014

How to Spot a Bad Realtor—And then Part Ways Properly


Just because real estate agents have guidelines to follow and tests to pass doesn’t mean they’re all the same, quality-wise. Whether you’re putting your home on the market or about to start the search, here are the hallmarks of a realtor you should stay away from.

The agent is difficult to get a hold of

Communication is a super important part of home selling and buying process. If your realtor takes longer than 24 hours to get back to you, or won’t give you weekly status updates, then it just isn’t going to work out and you might want to consider switching.

The agent is part-time.

Nothing against people who have other commitments, but if this isn’t your realtor’s full time job, you might want to look elsewhere. Having an agent on the outskirts of the industry usually means you’re the one missing out.

On the same note, don’t feel like you need to work with a friend or relative just because they happen to have a real estate license. If they’re not working actively and familiar with your area, they’re really not qualified to be helping you sell or buy.

The agent makes too-good-to-be true promises


In a down market, or even one that’s just starting to pick back up again, you’re going to have to face certain realities, and a good realtor won’t sugarcoat them for you.

So what sort of things should you hear from a good agent? That the longer your home is on the market, the more you will have to drop the price. That you may need to make some improvements before your home is attractive to buyers. That you may not be able to get exactly what you want for what you’re willing to pay.

The agent pushes you toward homes that don’t fit

Occasionally, you’ll run into realtors who are more concerned about their bottom line than yours.  If your agent is herding you in the direction of properties that are out of your price range or not in your neighborhood, be wary. They may be pushing you toward a friend or associate’s listing, or putting their commission ahead of your needs.

These warning signs are all well and good, but what should you do when you miss them?

The first thing to remember is that your real estate agent is working for you. This isn’t a partnership, and they aren’t lending you their services out of the goodness of their heart. Other than that:

Be upfront.
Every real estate agent has broken up with a client at one point or another—you shouldn’t need to tiptoe around their feelings. Lay it out for them.

Don’t hesitate. You’re making this decision for a reason. Don’t let yourself get talked into giving the agent a second chance.

Be respectful.
When you point fingers and get angry, no one comes out of the situation looking good. Not to mention that you may need to, or even want to, work with this agent again in the future.

source: totalmortgage.com