When Is It Time To Fire Your Real Estate Agent?
There may come a time when you need to fire your real estate agent either as a buyer or a seller, here’s why. People pick real estate agents either from referrals from friends or family, they find agents on the Internet, they call the person on a real estate sign or they go to an open house and meet an agent there. Of all of the ways to find a real estate agent the best way is to use an agent who has been referred to you by someone you know and trust and even then it still may not be a good match. It is true that an agent may work harder for someone they have been referred so as to avoid making two people made if things don’t go well.
According to the NAR’s annual Profile of Home Buyers and Sellers, 54% of buyers and 64% of sellers found their agent from a referral or had worked with them in the past. However you find them if they aren’t working out for you it may be time to fire them. Are you always the one finding homes to go see or does your agent send you out to look at new homes and open houses with a stack of his or her cards with instructions to call them when you find one? Do they answer their phone when you call or at least call you right back, can you text and email them to get a quicker response? How well do they know the area you’re looking in, in today’s busy market new homes often don’t even get listed and are sold before they are finished. A local agent will know where the new subdivisions are going and how to get a jump on homes before someone else does.
Your Agent May Have Never Been In A Real Estate Transaction.
It may shock you to know that you could end up with a real estate agent who just got their license and has never been in a real estate transaction…ever. How could this happen you ask, one way is phone duty, new agents typically get assigned to phone duty for two reasons. It is a chance for them to get some clients and more experienced agents are either too busy or spend their marketing time on other projects. If you’re calling a phone number on a real estate sign it could either go directly to the listing agent (who you shouldn’t use if you’re buying) or it goes to the real estate company that agent is associated with. The phone is then answered by the desk agent or whoever has phone duty at that time. New agents are also roped into to doing open houses.It is a way for them to meet potential clients and a busy agent can’t be in two places at once so they let the inexperienced agents sit in their open houses. It is remarkably easy to get a real estate license considering the magnitude of the responsibility. Representing a buyer or seller in what is likely to be the biggest single transaction in their lives…what could go wrong? We all had to start somewhere and if your agent is new make sure they have a mentor or an advisor an experienced agent who is available to help and answer questions.
Experience And Business Is No Indication You Will Get Along
Experience counts especially in real estate but it is not a good indication that you and that agent will have a good relationship. It is possible you will be with this person for weeks or months not all the time but when out showing houses or getting updates on your home sale so it’s kind of important to at least get along. You may find after one or two meetings that you don’t click, that your personalities don’t match regardless of their experience. It may be that they are very busy and are not always available when you are. Busy agents won’t drop everything just to get you into the new listing that just came on the market and that could cost you your dream house. A newer agent will likely have more flexibility to help in situations like these. If you find yourself with an agent who does not seem to have the time for you it is time to fire them. First time home buyers need an experienced agent to help with this huge undertaking and you have to be able to ask all the questions. A sign of a good agent is one who is not afraid to say “I don’t know let me find out.” Every client and every deal is different and the list of questions that come up is limitless so you need someone who doesn’t mind that.
How Do You Find A Good Real Estate Agent ?
Referrals are the best way as we mentioned, in fact almost every agent has some line either on their card or in their email signature asking for referrals. You might just be friends with someone who is an agent or recently became one which is also how new agents get business by hitting up their friends. These days many agents have an online presence and that is a good way to find your agent. A tech savvy agent who you found online has a better chance of marketing your home for sale, getting your home front and center on the Internet and exposing it to as many potential buyers as possible. If they have a decent website it should get the latest listings quicker than the likes of Zillow and Realtor.com and the information is more likely to be accurate. A website with a personal bio or even better a video channel that allows you to see their personality before you have to meet them are good ways to find a good real estate agent. Reviews either online or on an agent’s website should give you some idea of what they are like, doesn’t mean you’ll get along. Some real estate sites have agents prominently position on the page next to homes with either a premier agent tag or similar…they pay for that spot. However you find your real estate agent it should be someone with your best interests at heart and someone you can like and trust.
Single Agent Or Real Estate Team
Basically there are two types of real estate agents, agents who work alone and handle most of the transaction and real estate teams. A team could be two people or twenty depending on just how much business they do. A real estate team may have people in different departments typically the primary agent is the listing agent and they have a number of agents that they assign buyer clients to. A team may have a closing coordinator who takes over once the contract is signed and that may be the last you see of the agent. So when you call a real estate team from a sign it’s likely you’ll be assigned to an agent, that may not work for everyone. Working with one agent from start to finish may be more of a fit for buyers and sellers who prefer to have a relationship with their agent. There are many stages to a real estate transaction, finding a home or listing a home is just the beginning. In fact there are plenty of things that can go wrong once the contract is signed. The home you just signed on the dotted line for is not yours and not sold until it’s recorded in at the courthouse. The important stuff happens after the contract is signed and you’ll want your agent to be on top of it.
Questions To Ask A Real Estate Agent Before Hiring Them
Home buyers and sellers rarely interview more than one agent, in the case of buyers they end up working with the agent who answered the phone or the agent who’s website came up first. Agent meets the buyer at the house or at the office buyer loves the house makes an offer and off you go not enough time to get to like or dislike anyone. If it takes a little longer and you’re meeting consecutive weekends it’s nice to be with someone you actually get along with. Sellers normally have two questions what will my house sell for and how long will it take. Buyers typically have a lot more questions, be sure you can ask them all. There are many many important questions you need to be asking your real estate agent. Ask about experience, ask about local knowledge of the real estate market. Ask for referrals. Ask yourself do you like and trust this agent to work hard for you through the whole process. Here are some really informative articles from real estate professionals around the country who share their experience and offer advise for home buyers and sellers. Things Real Estate Agents Do That Professional Realtors Hate by Bill Gassett Why You Shouldn’t Hire Friends & Family In Real Estate by Debbie Drummond 10 Questions To Ask Before You Choose A Real Estate Agent by Ryan Fitzgerald Reasons Home Sellers Don’t But Should Complain About Bad Realtors© by Conor MacEvilly