7 Most Common Mistakes When Choosing a Real Estate Agent
Choosing the right real estate agent is half the battle when you are looking to sell your house. An agent can make or break your prospect of getting good money for your property. A realtor who is on the top of his game and is willing to work closely with you can make selling your house a relatively hassle-free process. To help you pick the right person, here is a look at some of the most common mistakes sellers make when they are choosing a real estate agent in Denver, CO
What’s the Difference?
One of the most common misconceptions people have about real estate agents is that since all of them took the same course they are the same. It leads them to make the mistake of hiring the services of agents without any real consideration. Different agents as well as brokerage firms have different tools and strategies at their disposal and thus have different selling abilities.
I Do Not Need References
If you are one of those people who think gut-feeling is more than enough to select an agent, you are more than likely to choose the wrong one. You may be a good judge of character but there is no substitute for references. Ask the prospective agent to give you phone numbers or email addresses of a couple of recent clients. Try to get to know their selling experience with the agent before hiring him.
A Part Timer will Do
Hiring an agent who is only available part time is a mistake. Think about it. Someone who will not be able to answer phone calls from interested buyers because he is busy working at his day job, will not be able to sell much. You need someone who is ready to jump on a good deal 24/7.
He Offered the Highest Listing Price
Some real estate agents in Denver, CO will offer you a much higher listing price for your property than the market rate and will promise to make a sale in a couple of months. Run away from such agents. You will find your house failing to attract buyers and sitting on the market for months without many offers. This may lead you to lower your prices well below the true value of your property just to attract buyers.
He Does not Charge Much
Hiring services of a real estate agent solely on the basis of their rate of his commission is also a mistake. Realtor’s commission rates should be negotiable and you should be able to get them to agree to charge slightly lesser than their original demand. However, agents do need the incentive to give their best efforts. You cannot expect much dedication from a realtor who has agreed to charge less.
Love at First Sight
Many sellers are willing to work with the first agent they come across. This is a mistake. Interviewing a couple of realtors before you pick the one you will get listed with, is important. It lets you compare the skills and styles of the agents. It allows you to pick the one most suited for your unique situation based on his experience, knowledge of the local market, the listing price he is willing to set, his commission rate as well as the time he is willing to invest in your deal.
He Sold More Houses than Anyone Else
Just because an agent sold many properties in your area, does not mean he is the best one for you. Do a little background check. Has he sold many properties in your area that are similar in kind and price range as yours? How many of the properties listed with him have found buyers? A real estate agent who sold 10 out of 10 houses listed with him last year is better than one who managed to sell 40 houses out of 100 listed.
When choosing a real estate agent in Denver, CO, avoid these mistakes at all costs.