The problem with the seller/realtor relationship is that they spend a lot of time together; sometimes it start to turn into more of a friendship than a business transaction, but thats what it is: a business transaction. If the relationship moves into anything beyond that, judgment gets clouded and impulsive and emotional decisions rise. Choose a business partner, not a new best friend.
Top 10 Mistakes Sellers Make When Choosing a Realtor
Choosing a friend or family member
Just because they are your friend, doesn’t mean they have the right credentials, knowledge, or experience to sell your home. Don’t use them out of fear that you will hurt their feelings if you don’t. Know that a real friend will understand that the decision to go with someone else isn’t personal, its just business. Aside from the fact, that you don’t want to risk a friendship over problems that are almost sure to arise during the process of selling a house.
Choosing an agent just because they agree with your list price
There are some agents that will tell you they agree with your price just because they want your business, and know that this is the best way to get you hooked.
If your house is priced properly, lots of agents will show it to their buyers. If you price it too high, no one will show the house and it will sit on the market for some time. When you finally do reduce it to its accurate price, it will look less desirable as it has been on the market for quite some time which makes it appear that no one wants it and you, in turn, look desperate. Aside from the fact that pricing your home too high only begins to make the other houses on the block more attractive.
Not getting references
You should be getting references on recent sales, not a client that sold their home with that realtor five years ago. Perhaps at that time the realtor was at the top of their game and working constantly, but recently they have been in the hospital and have just come back to work after three years.
Going with an agent just because of a low commission fee
It should be obvious that in life, you get what you pay for. Usually, a realtor who charges an outstandingly low commission will only put a sign in your front yard and maybe list it on the MLS. Agents put up their own funds to market and advertise your home. There is no incentive for them to work hard to sell it if they know that they are going to earn little to nothing even when it does sell.
All realtors know what they’re talking about
This is far from the truth. While they do go through a lot of training and a difficult exam to become a realtor, it doesn’t take long to do so. Just because someone has a real estate license doesn’t mean they’re great at their job. Same goes with any profession. Just because a dentist has a degree doesn’t mean he’s a good dentist, it just means they were able to pass a test. Do your homework, and check credentials and references. If you don’t, you’ll only have yourself to blame.
The agent listed the most homes in the past year
While thats great that the agent had 24 clients that were willing to list their home with them, but only 10 sold. It’s better to find a realtor that only listed 5 houses that year, but sold all 5 in a timely manner and for a great price.
The bottom line is that the best real estate agent is one that will do the most effective job of marketing the property, communicating, negotiating the best terms and conditions within reason, and be relatively easy to work with.