Most sellers start the process of selling their home after they select a realtor. Some of them have had bad experience with their realtors. Either they make the transaction with lack of satisfaction or looking for a new better realtor. In either case, they are loosing money and the valuable time. Now we will discuss the common mistakes those are making by the sellers.
- Friends and family members: To establish professional credentials, friendship alone is not enough. If they are really well in the profession, you can choose. When selecting an agent, use the tough standards just like you would do in case of an accountant to handle your taxes, or a doctor, or an attorney. A true friend or a family member will understand and appreciate as this is a business decision. They compete for listing and will offer their credentials. If there is a challenge or problem develops during the process, you risk damaging family relationship or friendship.
- Commission: You will get for what you pay. You will often get a sign in the front yard and placement by paying a cut rate commission in the Multiple Listing Service, but from agent little additional effort. The real estate companies and the real estate agents invest their own funds to advertise and market your home. Advertising and marketing costs money. If the commission is lower, it is less incentive for the agent or the company to put up their own money to market your home. Incentives play a prominent role in sales. When there are any challenges in case of a full service agent who is earning full commission may often drop everything, a small commission does not have such incentive. In any case, negotiating skill is very important while dealing with an agent.
- Agent presentation: Some real estate agents can give an excellent presentation to you. It is not good to go just by that presentation. Consider the benefits and drawbacks of each. If you taken any decision instantly, it is difficult to correct later.
- Neglecting references: A snap judgment is not good enough to choose an agent. You need to determine if the agent is competent. Do not neglect the references to determine the agent’s competence. Check for the recent customer references. Ask them and find out how their experience with concern agent in selling their homes. Also check for the experience of that agent.
- Previous records of agents: There are some agents, they will sell all or majority part of their listings in the previous year(s). The quantity they are selling may be good but you must need to check for the quality as well. Find out the listings they did not sell, how much price reduced before they sold, the time period that the house in the market, whether the process handled by them is smooth, the agents availability for problems or questions on when arose.
The best practice to avoid the mistakes while choosing a real estate agent is consider the best reviews and analyze or research a little depth about the accuracy of those reviews.