Real Estate Scams: Four Red Flags to Watch Out for When Selecting a Real Estate Agent

Expert property advice

A home is one of the biggest investments you can ever make in your entire life. So much so, that in buying or selling one, you should be meticulous enough with the logistics that go along with it lest you end up with a bad deal. However, regardless of whether you are buying or selling a home, your choice of a real estate agent has a significant influence on the entire process. Some individuals would have the misfortune of getting saddled up with an agent that would not put their own interests first and may end up negotiating a bad deal. Without a doubt, homeowners have employed the services of a realtor to make sure that their hard-earned savings are not wasted on a mediocre home, or who would at least assist them in reaping the investment they are after. For these reasons, homeowners should a bit more thorough in selecting a real estate agent—someone who is not only reputable but professional, easy to deal with and well-qualified as well. So, before you finally close that deal on a home you might have been looking at in Solstice or sell that ancestral home, it might be helpful to identify a few red flags when it comes to selecting a realtor.

1.) Suggesting the highest price for your house

While this might sound like your agent just wants you to get the most out of the sale of your house, it is not necessarily so. To get an accurate pricing, get listing presentations from at least three agents. They will then tell you what comparable homes have sold for and how long it would take to sell it. As they are looking at the same data, suggested listing price should be close. Remember, if you price your home too high, it will not look appealing to buyers, and your property would sit longer on the market.

2.) Does only part time work

It is always best to select an agent who is following the housing market everyday—regardless of whether you are buying or selling a home. This is so you can immediately be in the know of the new listings when you are buying, or show prospective buyers the property anytime if you are selling.

3.) Does not regularly deal with your type of property

If you want to sell your property in a competent market, you should select an agent who is already well-versed in the sale of the kind of property you are looking to sell. There is a myriad of agents out there, and all of them have their own specialties—with some even having multiple ones. But to make the process faster and easier, it is best to choose an agent that is already experienced in the type of transaction you are doing.

4.) Poor negotiating skills

It is not only enough that your agent finds you a buyer or a home, but your agent should also be able to successfully close the sale as well. This involves a series of things such as making sure that a buyer is preapproved for a mortgage, ensuring a home is free of any liens before it goes on the market and issues are resolved.

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