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Things to Avoid Doing When Working with Real Estate Agents

Things to Avoid Doing When Working with Real Estate Agents

Real estate agents are an invaluable resource when you’re looking to buy or sell a home. Working with real estate agents can be beneficial because they know the local market, understand the latest trends and have connections that can help you sell your home quickly and avoid issues like falling prices or unqualified buyers. However, working with real estate agents can be challenging as well. Agents tend to have a lot of clients at once, which means they don’t have time for niceties and small talk. If you want to work with an agent effectively, it’s important that you understand their needs and expectations up front so that there are no surprises later on. Here are some things to avoid doing when working with real estate agents:

Don’t be late with your payments.
It’s understandable that real estate agents have a lot of clients, but that doesn’t mean you should be tardy with your payments. In fact, it’s in everyone’s best interest to arrange your agreement so that the seller’s payment goes directly to the agent. That way, there’s no risk of the funds being tied up in legal entanglements if you happen to be involved in a lawsuit.

If you’re in the process of buying a home, then you’re likely to be pre-approved for a mortgage. If so, you can use the money in your pre-approved account to pay for your agent’s services. It’s important to note that pre-approval is different from a commitment to lend: Your lender can, and likely will, change between the time you apply for a mortgage and the day you sign on the dotted line.

Don’t be vague about what you want.
Real estate agents are experts in their field, but they don’t know everything. They need to know the exact type of home you are looking for so that they can focus on homes that will be a good fit for you. For example, if you want to live in a rural area, you need to tell your agent that upfront. If you want to live near a major city, again, you need to be specific. When a potential buyer is vague about what they want, they’re just going to waste the agent’s time showing them houses that don’t fit their needs. Similarly, if you’re a buyer, be very clear about the type of home you want to buy and the price range. This will save the agent’s time and allow them to really focus on homes that fit your needs.

Don’t give unrealistic requests.
Real estate agents have a limited amount of time, energy, and resources. They can’t do everything for you. For example, if you want to buy a home and sell your old home at the same time, it’s unreasonable to expect your agent to be able to pull that off for you. Similarly, if you want them to be available to you 24/7 or make an offer on a house at a specific time, that’s unrealistic. Be realistic with the requests you make of your agent so that they can be as helpful as possible.

Don’t ask for unrealistically low price quotes.
Real estate agents get paid a percentage of the sale of a property (usually between 2% and 3% of the total transaction). If you ask for a price that is much lower than the asking price, the seller may simply decide not to work with your agent for that reason. Most real estate agents will be happy to provide you with an estimate of the price you would need to offer in order to win the property, but don’t ask for a price that is much lower than the asking price just because you want to feel like you have more control over the process.

Don’t demand unlimited access to the agent.
This is a tricky one because it’s based on a situation that will vary from one real estate agent to the next. Some agents want to be accessible to their clients 24/7; others are happy to offer access during regular business hours. It’s important to respect the fact that agents have full-time jobs and families and that they might not be available when you want them to be. Instead of demanding that your agent be available at all times, set up a specific schedule that works well for both of you. Then, stick to it.

Don’t treat agents as your own personal assistants.
Real estate agents are professionals who have been trained and experienced in the field. While they are happy to help you, they are not your personal assistants. If you have questions or need assistance, you should absolutely ask your agent for help. However, you should also expect to have to do some research on your own as well. For example, if you’re working with an agent to buy a home, you should expect to have to attend open houses, go to inspections, and do other things that real estate agents do for their clients.

They work hard
Real estate agents work hard to help their clients buy or sell a home. They want to make sure that you are knowledgeable and prepared so that you can make the best decisions possible and avoid unnecessary mistakes. In order to make the relationship as helpful as possible, it’s important to understand what they expect and need from you as a client.

Working with real estate agents is an opportunity to find a trusted partner who can help you navigate the stressful and unfamiliar process of buying or selling a home.

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