Buying or selling a property isn’t something you do often, which means that a lot of people don’t have a huge amount of experience with choosing the right real estate agent. This means that it’s common for people to make avoidable mistakes when picking an agent, and these mistakes can be detrimental to your buying or selling process. For example, if you’re selling, your house could end up being on the market for a long period of time, or if you’re buying, you could end up overpaying for a house when there are better options out there for you. So, how can you avoid these costly mistakes? Read on to find out what to avoid when choosing a new real estate agent.
Mistake 1: Not researching enough
Researching real estate agents and companies can be overwhelming, especially if you don’t know much about real estate, but it’s absolutely crucial if you don’t want to end up with the wrong agent. In addition to looking on real estate agents’ or companies’ websites, it’s also a good idea to read reviews on sites such as Zillow to find out more about other people’s experiences. You can easily search for reviews on companies such as Compass realty and use these reviews to decide who to choose. If you’re wondering “is Compass real estate a good company”? Then conducting some simple research will help put your mind at ease.
Mistake 2: Choosing the agent with the lowest fees
Picking the real estate agent with the lowest fees sounds like a good idea, but even though you might save some money in the short term, you could be missing out later on. If an agent’s fees are suspiciously low, this could mean that there are hidden costs that could crop up later, or it could indicate an issue with the agent’s reputation; if they have to offer extremely low fees to entice new clients rather than relying on experience and expertise, then this doesn’t present them in a positive light.
Mistake 3: Choosing the agent that gives the highest valuation
This mistake is similar to the one above. Choosing the real estate agent that gives the highest estimate of your house’s value when you’re hoping to sell may seem like a good idea at first, but this may actually cause a lot of issues. A real estate agent who gives a valuation that’s much higher than what other agents are saying could be misleading you about the value of your house in order to secure you as a client. Then, when your house is on the market, it won’t get sold quickly because buyers are turned off by the inflated price. This means that the process of selling your house will be dragged out for much longer and you’ll have to keep lowering the price as time goes on.
Mistake 4: Choosing an agent with the wrong experience
Everyone wants a real estate agent who’s highly experienced, but the details of this experience are very important. In fact, it’s better to choose an agent with less experience than one who doesn’t understand your needs or doesn’t have experience with selling properties like yours. Make sure to discuss your plans with a few agents before making a final decision.
Always do your research about their license and pre-license education, as every agent needs to acquire a license for the state they’ll be operating in. For Florida, the agent needs to complete the Florida pre-license course and then pass the licensing exam.
Choosing the right real estate agent can be difficult, but by knowing what to avoid, you can ensure you get the best agent possible for your particular needs.
