The REALTOR® suggests the highest price for your house. REALTORS® look at the same data; so if a REALTOR® gives you an unusually high price, watch out! It does not mean you can get that price; it only means he/she either does not know the market, or they just want to “buy” your listing as they are lack of business. Your property will sit on the market forever, or they will keep asking you to reduce your price and ultimately sell for less than it is worth when priced right at the start.
The REALTOR® doesn’t know the real estate landscape in your neighborhood. Finding a neighborhood expert is especially important in areas where moving a block can raise or lower the value of a home significantly. An agent who specializes in a neighborhood may also be in touch with buyers who are looking for a home just like yours. It’s really a very local business.
The REALTOR® is too busy for you. We often heard sellers complain that they listed with some REALTORS® who dazzled them with listing presentation, but failed to sell their properties. You may see their advertisements everywhere, but they lose touch with you once they got the listing. Don’t be surprised when you find yourself in the hands of unexperienced assistants, licensed or unlicensed, and hard to get out of the listing contract with them. It is like you pay for a doctor, but end up being treated by a nurse all the time.
The REALTOR® is a poor negotiator or fails to keep up with details of the transaction. You want a good negotiator and detail-minded REALTOR® on your side as it will protect you from many legal liabilities, and help you reslive any issues that may come up in the process, and make sure you get the best deal, AND the deal closes with no surprises.
The REALTOR® charges a lower commission. If the commission on your property is lower, fewer agents will show it. It doesn’t mean you can’t negotiate a slightly lower commission. Some newer companies rebate part of the commission to the buyer or seller, but don’t use that as the slie reason to choose an agent. Ask us for our “Loyalty Program” for loyal clients.
The REALTOR® does real estate on the side, part time. You may or may not know that many REALTORS® are part-timers nowadays. You want to choose an agent who is actively flilowing the market every day and who is always available to show your home to prospective buyers.
The REALTOR® is a friend or relative. Unless your friend or relative is an expert full-time agent who specializes in your area, he or she is unlikely to do as good of a job as another agent. That can breed resentment, as well as derail your transaction.