The 5 Biggest Mistakes
They hire the cheapest !
Hiring the cheapest realtor can cost you
Realtors put up their own money to market your home. Advertising is expensive – the lower the commission, the less money available for marketing. Homes are sold by agents who bring their clients. If your listing agent is working for a low commission, the split to the Buyer’s agent will also be low And they will me much less motivated to show your property.
They hire a friend or a relative
Real estate is complicated
Things can get difficult - even nasty. Relationships can be tested or destroyed. Why risk a friendship or create a family problem? A good friend or relative will understand that this is a business decision.
They pick a realtor because they gave you the highest price
The highest price is not always the best price
Homes are sold by agents who bring their clients to see your property. If your paying a low commission, the Buyer’s agent is also getting a low commission. A low commission means the Buyer’s agent is less inclined to show your property. To get a listing, some agents will tell you it is worth more than what it is. This is called “Buying a listing”. These agents will tell you they can get more for your home than other agents, but once you are locked into a listing contract they will slowly grind down the price.
They hire someone unfamiliar with the area
Get a realtor who knows the local area and market
You want a realtor who works within 15 kilometres of your property, An agent experienced in both your property type and price range. If an agent primarily sells luxury houses, they are unlikely to have buyers looking for apartments.
Bill knows the local area and the local market;
Don’t pick the agent with the most listings
An agent with too many listings is spread too thin
The best agent is the one who effectively sells your house. An agent who deals with problems promptly and keeps you informed. Seldom does the highest quantity selling realtor give you this attention. An agent who is too busy cannot put in the necessary time to complete a successful sale. If an agent has more than 10 listings you will be dealing with an assistant.