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Dodgy Real Estate Agents – Real Estate Agents to Avoid

One of the most daunting tasks when you are thinking about selling your house is finding the right real estate agent. Although most agents are ethical and wish to establish a trusting relationship with their clients, there are a few who simply wish to gain your business regardless of whether or not they will truly be able to meet your needs.

You can get started with sifting through these different options by using the free comparison service provided at LocalAgentFinder. After you register your details, you can begin receiving proposals from a variety of real estate agents, at no obligation. This allows you to compare qualifications to narrow down your list and find the right fit for your needs. The following are a few types of agents who it may be worth scrutinising a little more closely.

Agents who Offer you an Immediate High Price for your Property

If an agent immediately asks you your opinion about the price of your property and then agrees with you without conducting any market analysis, you should be suspicious. Naturally, asking for your opinion on the value of your home is not a bad thing. Good agents want to know what your expectations are like so that they can manage these and work with you towards achieving a realistic yet satisfactory goal. However, you want to be sure that this price is substantiated with hard facts and data obtained in a Comparative Market Analysis.

If an agent simply agrees to list your home for the first price you have listed without any analysis to back this up, chances are that they are just trying to win you as a customer any way they can. After you have already been locked into a contract and find yourself without a sale; they can then turn around and blame it on the market or tell you that you have unrealistic expectations. It’s the job of the real estate agent to manage expectations and show you the data that will help you come to a realistic value on your property. If a house sits on the market for a long period of time, it will be far more likely to receive lower offers. Buyers will assume that something is wrong with the property, even if this is not true.

Agents Who Have a Buyer for the Home before You Have Signed a Contract

Another tool that agents might use to get your business is to say that they already have a potential buyer for your home. You should ask to speak to this buyer before you sign any contract, lest you get fooled into signing an agreement only to find out that the buyer has decided to purchase another property.

This tactic is also one that is used by unethical real estate agents if a contract is about to expire. They might pull a perfect buyer out of thin air in order to entice you to renew the contract with them. This perfect buyer will need time to arrange inspections and financing, so you renew your contract with the agent. It’s only after this point that you hear that the buyer has pulled out, and you are stuck with another 90 day contract with this same agent. This could leave your property open to further price reductions, but leaves the agent with the ability to still earn their commission.

Real Estate Agents Who Dazzle

Many good real estate agents are excellent salespeople. However, beware of a charming agent who has little else to offer besides their charisma. We’ve all come across salespeople who are able to say the right things and make the right promises, and an agent who is good at sales will stand a better chance of making a quick sale. However, there’s more to real estate than having the ability to forge an initial connection. You’ll also want to look at the agent’s other qualifications to make the right decision. You can do this using the free online dashboard at LocalAgentFinder, and looking at the following factors:

  • Whether or not the agent is a licensed member of the Real Estate Institute of Australia and if they are in good standing
  • Does the agent pay attention to detail? Will they consistently follow through with potential sales leads and relay information back to you?
  • Will the agent be available for open houses and buyer enquiries?
  • How many sales has the agent managed to complete in the past few months? Compare this number to the amount of listings they have held, and whether or not these listings were in your area.
  • How long were the average listings, and how close in price were the list prices to the final sales prices?

Agents who Avoid Feedback

Although you may think you have a great property to offer, in reality no one has a perfect home. If you want to receive the best possible price for your house, you need to be open to suggestions and feedback from your agent. If the agent doesn’t provide you with any suggestions for improvement, this could mean that they will be willing to sell your home at a lower price in an “as is” condition. They may also just prefer not to share bad news. Although selling your home at a lower price may be acceptable, it is usually preferable to hear that if you replace your carpeting and give your home a fresh coat of paint you could see a 3% higher rate of return on your sale. When you are hiring a reputable estate agent, this is the type of concrete advice you should be able to expect.

Choosing the right real estate agent involves taking factors like communication, experience, and ethics into account. You want to find a good, honest communication who will look out for your best interests and try to present you with both the pros and cons of your options, rather than someone who will simply try to tell you what you want to hear.

This is why it’s worthwhile to compare your options before signing any listing agreements. There are thousands of agents registered with LocalAgentFinder. Find out how it works and start making realistic connections with qualified agents today.

The following related articles can also help you as you get started:

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