When looking for an agent to help you buy or sell your home, it is important to find someone that matches your personal needs. There are lots of incredibly agents out there but how do you know who will be the best person for your job? The goal when interviewing real estate professionals is to find someone who understands what you are looking to gain with your real estate transaction and is a subject matter expert. There are some red flags to look out for when it comes to your agent search to help you distinguish the right person for the job from the wrong person.
#1 - An agent that prices your home too high
When selling your home, you should meet with at least a few agents to find the person that it is the right fit for your needs. If the agents are all using the same market data to come up with probable list prices, the prices should be very similar. If an agent suggests a price that is drastically higher than the rest, that can leave you stranded with a home on the market for longer than you intended and cause you to miss out on lots of potential buyers. Your agent should be selling to the market, not trying to line their pockets.
#2 - An agent that isn’t familiar with your neighborhood
You need a real estate professional, whether buying or selling, that is an expert in your neighborhood. They need to know the difference between the market values of each subdivision and why your street versus the one across from you is priced differently. If they are local, they are also more likely to know what inventory is available more quickly and are available to get to showings without delay.
#3 - An agent that reduces their commission
This “bargain” isn’t really all that it’s cracked up to be. Since the standard 6% commission is usually split equally between both agents, if the commission on your listing shows as lower, other agents will be hesitant to show your property. A reduction in money can also equate to a reduction in the quality of service you will receive.
#4 - An agent that doesn’t specialize in your specialty need
Example: you live in a condo but they don’t normally sell condos. You are looking for an investment property but they don’t typically work with investors. Lots of agents are well-versed in multiple fields of real estate but you want to make sure that your representative is an expert in the type of transaction that you are doing. If they aren’t, you might be spending a lot of your own time researching questions online rather than relying on your agent to guide you through the transaction.
#5 - An agent that doesn’t normally work in your price range
A luxury listing agent is most likely not going to be properly matched with a first-time home buyer looking for a $200,000 property and vice versa. If you are looking to list, the same rule applies. Stick with an agent with a long track record of successful dealings in your price range. Going too far outside that comfort zone will mean that marketing can miss the target audience or you might end up seeing properties that don’t meet your budgetary needs.