5 Mistakes When Hiring a Real Estate Agent
Hiring a real estate agent can be a scary process, especially if you’re not familiar with the market or your local market conditions. With that in mind, we've compiled a list of things to watch out for when hiring an agent.
1. Failing to look at reviews and testimonials from past clients.
While this is a mistake many people make, it is particularly important for you. You want to make sure that the agent you hire has experience and good reviews from past clients. When looking at reviews, look at both the agent's personal profile and the agency's profile. You should also ask your real estate agent for references from past clients.
2. Not reviewing the agents experience and track record of sales.
It's important to look at the agent's experience and track record in the area you want to buy or sell. You should ask for a list of properties sold, as well as their marketing plan.
3. Hiring someone based solely on commission.
When hiring an agent, you should always ask about his or her commission. The commission is how the agent gets paid for the work that he or she does for you.
What's their rate?
Are there any other fees involved?
What are they going to do for me?
4. Not having all the data available to make the most educated decision.
One of the most important factors when hiring a real estate agent is asking the right questions. When you ask someone to represent you, it’s like hiring an employee: You want to know what their track record is and what they plan on doing for you.
Ask if they have a negotiation plan and how they are going to sell your property. Is there anything in particular they will do differently than others?
Ask what their experience has been with similar properties and similar situations, such as those with tenants or back taxes due on them, etc., so that you can get an idea of how well they know their stuff before deciding who to use for your listing.
5. Only interviewing one real estate agent.
It's important to interview multiple agents before making a decision. Your first step is to compare what each agent offers. Consider their track record and experience and find out who is the expert in your market.
There are many mistakes that can be made when hiring a real estate agent. By doing your research, asking questions, and conducting interviews with several agents, you will be able to avoid them all.