Do you have an agent but wonder if this is how it’s supposed to work? Maybe the thought has popped into your mind that you might need a new real estate agent. But how do you know? There are a few key signs that may indicate it’s time for a change.
Whether you are selling your home, or you are searching for a new one, you and your agent should be on the same page. This person should understand your needs and what you ultimately want. Trust is essential.
If you feel like your agent is unresponsive, that is a red flag. Do you think your agent might not understand your goals? It could be time to start looking for someone new.
Don’t be afraid to find someone who you feel will better suit your needs. Here are some common characteristics of an agent that might indicate it’s time to find yourself a new real estate agent.
Need a New Real Estate Agent?
See how many of these five are you experiencing.
1. Your Real Estate Agent Doesn’t Get Back to You
Communication is one of the most important aspects of the seller/agent relationship. It is essential for both you and your agent. It’s actually a two-way street.
It is beneficial to ask about the best ways to get in touch with them. Some people like calls. Other people prefer texts or emails. This will allow you to manage your expectations and understand your agent’s limitations. Some agents will leave a voicemail that says, “for a faster response, please text”.
Clarifying the communication modes upfront will certainly increase your level of happiness with your agent. Because your schedule or expectations may not mesh with theirs. It’s also advisable to change agents early on, rather than getting further into the process and discovering that your needs and expectations don’t align with your agent’s style.
2. They Need Help Being a Negotiator
A Realtor should be acquainted with contracts and know what to negotiate with other professionals. They should be able to tell homeowners when it is necessary to consider giving enough to the buyers, and when it is necessary to force the issue. (This relates to knowing what you want as a seller.)
A knowledgeable agent should be familiar with comps in the area and the trends in the marketplace. All Realtors have access to this data and can use it in their negotiations.
Experienced agents also screen lenders, ensure that the winning bidder has pre-approval, and examine the buyer’s agent to ensure that everything is in order for each offer.
In a buyers market, the agent should be able to tell you when you need to raise your offer, waive an inspection, or even an appraisal. Sometimes you have to take extra steps into winning the bid.
If you’ve had offers on your home, but haven’t been able to agree on a price, your agent may be failing you during negotiations. Be sure and communicate to your agent you want to hear about every single offer that is presented.
3. Personality Problems
If you feel like your agent is overconfident and everything you said is disregarded, it’s time to find a new real estate agent. All buyers and sellers should be made to feel comfortable. No one should treat you with disrespect, regardless of your financial situation or how you define financial viability with a new home purchase.
Even the most basic real estate questions should be answered with ease. The best brokers will avoid using jargon that is unnecessary. And they’ll be sympathetic to your particular situation, ready to guide you through the often-frantic process. Buying or selling a house can be intimidating, especially the first time. Your agent should be as well.
Some agents will use phrases like “nothing is selling in this market”, or “you have to offer way over asking to get anything.” These sorts of phrases are exaggerations and you may need to get yourself another agent.
4. Real Estate Isn’t Their Full-Time Job
Actively avoid the Realtor who works as a side hustle helping people buy and sell houses. If you’re working with a real estate agent who has another job to supplement their income, they might not be the best option for you.
Furthermore, someone who simply wishes to obtain a little extra commission on the side is just as damaging to your end goal. He or she may not be as eager to complete your transaction. Full-time agents will almost always be superior to those working the market part-time.
5. Selling or Buying Is Taking Too Long
Real estate is one of the business models where the proof is in the pudding. If you’re the seller, either you get a contract on your home at the price you want or you don’t. If you’re a buyer, your offer is rejected or the seller accepts it. So, if you’re stressed out having to wait for an update on your progress, there’s a problem. Similarly, if no one has expressed interest in purchasing your home in weeks, there is a problem.
There will be no results if there are no calls, no interest, and no updates. This is where your real estate agent comes in handy. Houses sell when they are priced right. Maybe it’s time to drop the asking price?
And if you’re submitting an offer, your agent should be able to tell you if your offer is fair. If your offers on houses keep getting rejected, there is a problem. Should you offer fewer option days? Should you increase the option money? Your agent has access to all the comps and should understand the current trends in the market.
In any case, you’ll need to find a more capable real estate agent.
Most people fail at real estate because they do not have the proper education or experience. That’s why it is important to interview multiple agents before you choose one to work with. If they don’t have the experience, do they have superiors that will help them in your specific situation?