5 Things to Watch Out for When Dealing with Real Estate Agents
Everyone at some in their lives, thinks about the prospect of buying a home. Some of us actually take the plunge, and solidify our future with a long term personal residence. Some us are free spirits and can’t see ourselves living in any place for more than a year. For those who are genuinely toying with the idea of finding someplace to call home, you’re probably already thinking about the overwhelming process that could be ahead of you.
One of the things that really lightens the load is when you have someone there to walk with you. A Professional in the World of Real Estate that you can rely to help find the home of your dreams. How do you know who to trust? Should you just choose anyone who has a real estate license? How will you know if you are in the right hand or being taken advantage of? Here’s five things to watch out for when dealing with Real Estate Agents.
They Suggest the Highest Listing Price
It’s important that you check with a few different agents before making a decision. Certain agents are going suggest the highest possible price for your house. This may sound like a good thing, because who doesn’t love more money. Buddhist Monks, that’s who.
There are some negatives to listing your home as high as you possibly can. Pricing a home too high right at the start, could result in the home taking longer to sell. Which causes people to be weary of even considering it, because it’s been on the market so long. They’ll think that something is wrong with the house. Ultimately, forcing you to sell the house for less than what you originally wanted. It’s important to find an Agent that knows the market well, and sees that as a possibility. So go around and don’t be afraid to check what others have to say.
The Agent Doesn’t Know the Landscape
Some wise person once said, “Real Estate is Local Business.” Those words are simply truer than true. If you have a specific area in mind, you don’t want to be dealing with an agent who is new to the area. That’s like being led around in a foreign land by someone who doesn’t know where they are going. That leads to nothing good.
There’s perks to dealing with an agent that knows not only the area, but the people as well. What if Mrs. Jenkins is selling a house that meets your criteria. What if your agent happens to know Mrs. Jenkins? There could be possible magic there. Magic you wouldn’t have gotten if you went with some out of town newbie. Mrs. Jenkins aside, another perk would be their ability to properly suggest an area for you. Wouldn’t it be a great thing if your agent didn’t have to search through the MLS for hours just to find a home that they think you might like? I think it would a great thing. I can’t tell you how many times I have heard of people who spend so much time just looking at home after home, because their agents have no idea what they might like or what could be perfect for them in the local area.
The Agent Isn’t Familiar with Your Type of Property Transaction
I am noticing an unintentional theme here. I suppose the theme is the importance of being specific in your search, and finding the right fit. Another thing you should consider, and this is something that is fairly obvious, find and agent that specializes in your property type. If you’re in the market for a house, don’t go to someone who specializes in Commercial Real Estate.
Technically they could help you, but they aren’t going be as effective as someone who specializes in what you are looking for. It’s like going to the Toyota dealer to get your BMW serviced. Technically speaking, the mechanics probably could help you, but what you need is a couple of Germans to pop open the hood and work on your baby.
The Agent Is Not the Best Negotiator
One of the most important things is making sure the deal actually closes. Here’s the thing, the real estate industry and the job of a real estate agents is that it is not for everyone. Your agent needs to be intelligent, and on top of things. No everyone is meant to live a lifetime of sales. Some people feel that the job of sales is something is morally taxing.
If you’re real estate agent feels that way, then you need to find a new real estate agent. Simply because they will not do what needs to be done in order to get the job done.
The Agent is Your Relative
This is one isn’t really something to watch out for, because I am sure you’ll know beforehand if you’re dealing with a relative. This is just more of something to be weary of. The prospect of dealing with a family member on a business matter seems like a tremendous idea. You think, “Oh this will be great. I sure love that guy!” So you jump into a business with a family member completely disregard all and every single part of your vetting process, because they are family.
The decision could possibly lead to some great, but it could also lead to something horrendous, which could potentially ruin your relationship with your family member. What if your family member is a complete nightmare, and they end up being the exact person that you would never do business with? It’s always better to keep business away from family. At least, in my opinion it is.
I hope these tips will help you in your future endeavors. Thanks again for reading my posts. It means the world to me. See you next time.