Common Mistakes Home Sellers Make When Choosing a Real Estate Agent
When it comes to selling your home, choosing the right real estate agent can make all the difference. Unfortunately, many sellers make mistakes in choosing a real estate agent, which leads to disappointment. In this article, we will discuss some of the most common mistakes people make when choosing a real estate agent.
The first mistake to avoid is not understanding the difference between real estate agents and Realtors. A Realtor is a member of the National Association of Realtors and pledges to follow a strict code of ethics. A real estate agent, on the other hand, does not have to follow the same code of ethics. While many of the best real estate agents are also Realtors, it's important to understand the difference when choosing an agent.
The second mistake to avoid is recruiting friends or family to sell your home. While they may be close to you, it's important to screen them like any other applicant to ensure they have the necessary skills and expertise to sell your home. Additionally, if things go wrong, it could damage your relationship with them.
The third mistake is choosing a "yes" man or woman. Pricing your home correctly is critical to a timely and successful sale. If you aim too high, you may only find an agent who agrees with your unrealistic price, known as "buying a listing." Once your home sits on the market for months, the agent will suggest lowering the price, which will result in you getting less than you could have.
The fourth mistake is going for the lowest commission. While it's natural to want to make as much money as possible from selling your home, paying for a good agent is an investment in the sale of your home and is worth every penny. A low-paid agent will probably do little more than throw your listing into the Multiple Listing Services and put a sign up in your yard, while a well-paid agent will work tirelessly to move your home.
Lastly, penalizing a buyer's agent is a big mistake when selling your home. A lower-commission Realtor who penalizes a buyer's agent will never mention that it is commission-related to their customers. Instead, they will point out every weakness in your home, making it even more challenging to sell.
In conclusion, when selling your home, exercise the utmost discretion in your choice of real estate agent. Avoid the mistakes mentioned above to ensure you get the agent you need to sell your home quickly and at the right price.
Source: Maximum Exposure Real Estate, April 12, 2023 by Bill Gassett