6 Mistakes to Avoid When Selecting a Real Estate Agent
Whether you’re buying or selling property, hiring the right real estate agent is critical. After all, a skilled and experienced agent can navigate the complexities of the real estate market, negotiate on your behalf, and ensure that the process is smooth. On the other hand, hiring a less than ideal agent can result in costly mistakes and unnecessary stress. For example, such an agent may miss red flags in the paperwork or lack the expertise to get you the best deal.
That’s why it’s important to avoid the following six mistakes when hiring a real estate agent:
1. Not Doing Proper Research
Always research your real estate agent before hiring them. Start by checking their website and social media pages to learn more about them. Additionally, look for online reviews and testimonials from past clients to learn more about their customer service. Positive feedback is usually a good sign that an agent is competent. Please also ensure they are licensed and authorized to practice in your area.
2. Not Hiring Local Real Estate Agent
It’s always a good idea to hire a local real estate agent. A local agent will know your target neighbourhood like the back of their hand and can offer specialized service and key insights. For example, a Durham Region agency like The Shawn Lepp Group can help you with properties in Ajax, Whitby, Pickering, Oshawa, and other local cities, whether you’re interested in buying or selling a home.
3. Choosing an Agent Based Solely on Commission Rates
Remember, the lowest commission rate does not always equate to the best value or service. For example, a skilled agent who can effectively market your property and negotiate on your behalf may be worth a higher commission rate, as they could potentially secure a higher sale price or find you the best deal as a buyer.
4. Overlooking the Agent’s Experience
New agents are entering the industry constantly due to the lucrative nature of the hot real estate market and lack the experience to offer you the service you need. Always hire an agency with many years in the industry. In addition to offering key insights, an experienced agent should also have a network of contacts, like top contractors, to help you achieve your goals.
5. Failing to Communicate Clearly and Honestly
Not communicating your expectations and preferences can lead to misunderstandings and disappointment. Before hiring an agent, discuss your goals, timeline, and specific requirements. For example, home buyers should let the agent know what property features, locations, and prices they’re looking for.
6. Ignoring Red Flags During the Initial Consultation
Pay attention to how the agent presents themselves, their level of professionalism, and their responsiveness to your questions and concerns in your first meeting. If the agent appears unfriendly and disorganized, lacks knowledge about the local market, or fails to address your concerns, they may not be the right fit for you.
These are six mistakes you should avoid when hiring a real estate agent. Finding the right professional agent can make all the difference in achieving your goals and ensuring a smooth and satisfactory real estate experience.