5 Signs You Have a Bad Real Estate Agent
All home buyers, home sellers and investors need a quality agent on their team. Luckily, bad agent red flags are easy to spot. Be on the lookout for these five characteristics of a bad agent and save yourself some pain, (time and money too)
1. Doesn’t communicate effectively
Poor communication is one of the top complaints about realtors. This can be extremely frustrating and could result in losing real estate opportunities. A good real estate agent will always update you on the buying or selling progress, whether it is via text, email or phone call. When you contact them with an inquiry, they should get back to you promptly. A bad real estate agent doesn’t make the effort to communicate with you quickly and efficiently. It’s important to also remember, real estate agents have lives of their own too. Allow them some grace after normal business hours.
2. Pressures you to buy a home you’re not interested in
This is an important red flag. Typical home buyers may not know a good deal when they see one, so there are times when an agent should try to convince them to at least strongly consider a property. You want an agent who understands that no one deal will make or break their bank account. They simply give advice without attempting to persuade. Preferably, you also want an agent actively willing to talk you out of a deal if they don’t believe it makes sense. That indicates that an agent is both a quality agent and a quality investor-minded agent. After all, buying a home is one of the largest investments you’ll ever make.
3. Doesn’t provide local pricing data
Many property owners are not aware of the true worth of their homes. As a result, they are likely to overprice or underprice a house when selling. A good real estate agent is familiar with the prices of similar homes in your area and provides a comparable market analysis (also called a CMA report) assessing precisely which homes best mimic the property you’re buying or selling. This will help you list your home at the RIGHT price or ensure you aren’t overpaying for a property.
4. Doesn’t market online or use social media
When selling a home, effective marketing is very important to attract the right buyers. With over 80% of home buyers searching online for a home, not having a social media presence is one of the biggest signs of a bad real estate agent when selling your home. To determine whether an agent is a good marketer, conduct an online search of your agent’s name. An agent with a strong web presence will have a website and several active social media pages and profiles.
Furthermore, you want an agent who does more than just goes through the motions. You want an agent who hustles. Do they hire a professional photographer, or shoot the listing themselves? Do they have connections with stagers? Ask these questions before signing anything.
5. Offers the cheapest commission
Sorry, everyone: This one is sad but true. If your agent’s biggest value is their cheap commission, that’s a problem. ‘Nuff said.
So, What Can You Do If You’ve Hired a Bad Realtor?
In case you realize that you’ve hired a bad real estate agent, be sure to voice your dissatisfaction. At times, the agent will be kind enough to release you from the agreement you’ve signed. However, sometimes breaking a contract comes with conditions. For instance, you might be required to reimburse the marketing and advertisement costs. Generally, the process of withdrawing from the contract will vary from one situation to another. But it can be worth it if you really are unhappy with the service you are getting. Remember, there are many great real estate agents out there who go above and beyond to help home buyers and sellers. So don’t let one bad experience scare you away from working with a real estate agent.
Wondering how to find the best real estate agent buying a home? You can attend open houses to see how they interact with others and their clients. It’s also a good idea to ask for references from friends and family and check agent reviews on different real estate sites. Or you can simply contact me, and I can help you!