Blog

7 Red Flags to Watch For When Selecting a REALTOR

Annabel Lee

7 Red Flags to Watch For When Selecting a REALTOR

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.

    • Read More

    11 Great Questions to Ask When Selecting the RIGHT REALTOR

    Annabel Lee

    11 Great Questions to Ask When Selecting the RIGHT REALTOR

    The right agent can help you sell your home quickly and for most money or help you buy your dream house. The wrong agent can put your transaction at legal risk, miss the perfect timing for marketing your home or buying into a home.

    Here are some great questions that you need to ask the REALTOR® as NOT ALL REALTORS® ARE THE SAME.

    • How many homes did you sell last year?
    • Which area(s) are you specialized in?
    • What type of property are you specialized in?
    • What percentage of your listings sold?
    • What is your average sale price ratio vs list price?
    • What is your average marketing time?
    • Do you have a list of past clients that I can contact?
    • How will you market my home? Who the target buyer is and how will you get my home in front of those preferred buyers?
    • Do you personally show my home? How do you give showing feedback?
    • Will I only be able to see you at the listing presentation and deal with your assistants all the time after today?
    • Are you a full-time REALTOR®?

    Read More