Whether you are selling a home or buying one, it is often in your best interest to have a real estate agent help you with the transaction.
Since there are so many companies out there filled with people who claim to be the best in the industry, it can be very complicated to weed out the bad apples. If your goal is to find a reliable agent who will ensure a smooth transaction, you should avoid making any of the following mistakes.
Hiring A Part-Time Agent
There are some people who devote their entire lives to helping people buy and sell property. These are the ones that you want to have on your team.
It is a huge mistake to hire someone who only dabbles in real estate as a way to supplement their income from another career choice. There is no law that states, part-time agents are not capable of providing reliable help, but it is not wise to be a test case for someone who does not have a true passion for this business.
One of the main issues that you will face if you decide to hire a part-time agent is availability. They have a limited time to help you with buying and selling, which means that things may not flow as swiftly as you hoped they would. They are also not likely to have access to as many resources as a full-time agent.
Selecting Someone Due To Unlimited Open Houses
You may not have known this before now, but having a slew of open houses does not make someone a great real estate agent. In some cases, people do this in order to appear that they are more active in helping than they actually are. While some agents believe that this is the best resource for selling a home, there are others who do not conduct these at all. The reality is that open houses only account for a minuscule fraction of the homes that are sold yearly.
Choosing A Recently Opened Company
Experience is essential when you are dealing with real estate companies. This applies to buyers as well as sellers, so pay close attention. When a company is new and eager, it is easy for them to convince you that they are willing and ready to do what it takes to help. The problem is that their lack of experience will surface at some time or another, and it can mean the difference between having an effortless transaction and being stuck in an endless nightmare.
Ideally, you should look for a company that has been around for at least 5-10 years. This will have been enough time for them to get their feet wet and build up a great network. They will be able to offer far more assistance than a company that is still trying to get the hang of things.
Working With Someone Because You Know Them Personally
It may seem to make perfect sense for you to hire someone because they are related to you or they are a friend of a friend, but this can come back to haunt you. Real estate is a business and this is what you should have on your mind when you are seeking someone to help. There is always a chance that someone you know will be experienced and reliable enough to offer you the best assistance, and it is fine if you hire them based on this. You should always hire based on merit instead of choosing someone because of familiarity.
Failing To Interview Multiple Candidates
There are some people who tend to trust their gut when they are making decisions. There is nothing wrong with this in many cases, but this should not be the method you use to hire a real estate company. The idea is to compile a list of candidates and have them meet with you. You should come prepared with a list of questions that will help you determine whether or not they are a good fit. Even if the first or second candidate you come across seems perfect, you should interview a few more in order to make sure you are making the best choice.
Choosing A Realtor Who Offers A High Price Analysis
When you are selling a home, it is always a good thing when you are able to get a fair deal. Sometimes Realtors will suggest you place a higher price on your property than anyone else has suggested. This should often be seen as a warning sign instead of a good thing. If nearly all of the people you come across have given a similar estimate, you have to ask yourself why this person’s calculation is so different. Never allow yourself to select an agent based on something that may be attributed to a gross miscalculation.
Working With Someone Unfamiliar With Your Property Type
If you are trying to sell commercial real estate and you come across someone who has had great success selling homes, it is not likely they will be able to help you with anything. It takes a different set of skills to handle these real estate types, so you are better off looking for someone who has a background in the property type you are selling.
This also applies when it comes to price range. If you are looking to buy a multimillion dollar home, you should not enlist the help of a realtor that is best known for selling small starter homes and other properties that would be considered an economical choice.
Moving Forward Without References
Buying or selling a home is not an inexpensive concept generally. Why would you want to trust someone with this type of transaction without requiring them to provide you with references? It is always great to get an idea of what can be expected when working with a particular person. You can really get insight by speaking with people who have worked with them. Even if they seem like they are perfect, you should still gather references.
Hiring Someone With No Knowledge Of The Area
If you are looking for a home, it is better to look for someone who has knowledge in the particular area that you are interested in. You should not choose them simply because they claim to be from the area. You can live in an area for a long period of time without really understanding the market there. This is why it is essential that you learn to separate their personal lives from the services they can offer you as a professional.
Another thing you should be concerned about is people who believe that knowing an entire state is a valid claim. There is something very different about the property in Tampa, Miami, Orlando and many other cities in Florida. Someone who claims to know Florida as a whole instead of pinpointing particular areas they are familiar with is a candidate that you should immediately delete from your list.
Buying and selling property is a huge undertaking, and this is further compounded when one does not have deep knowledge of the process. One way to get around this would be to hire a real estate agent to help you with this transaction. With all of the options that are available, the selection process can be rather tricky. The best way to make sure that you make the best decision would be for you to avoid all of the mistakes that were mentioned here.