5 Common Mistakes to Avoid When Choosing An Agent
A skilled agent will advise you on how to sell your property, assist you in setting a reasonable asking price, create a professional marketing strategy, and negotiate on your behalf to help you achieve the best possible price. Moreover, a good agent will assist you in avoiding many other significant errors that you may make when selling your house. We’ve provided you with a list of some of the questions to ask to avoid the mistakes people make when choosing a real estate agent.
Choosing the wrong agent
Choosing the wrong agent to sell your home can be one of the most regrettable decisions you ever make. In addition to resulting in a lower selling price and delays in the time to sell a property, it can also cause a great deal of unnecessary frustration. However, almost half of the homeowners hire the first agent they encounter.
An incompetent or unprofessional agent can cause a variety of problems and cost you money. The wrong agent may provide you with poor pricing advice, fail to effectively market your property, and waste your time with unqualified buyers. Worse yet, he or she may pursue a quick transaction and not negotiate the best price on your behalf.
You must also feel secure with and trust an agent, as well as be able to collaborate with him or her throughout a potentially stressful sales process.
No one wants to make the same mistakes that others have already suffered so don’t go rushing in. Prior to hiring an agent, one of the best ways to ensure you’re looking to appoint the best agent to find the best sales outcome for you, is to conduct an investigation and avoid the following 5 mistakes when selecting the agent to ensure you get the most out of when your home sells.
#1. Selling Your House Too High
Although setting a price for your property is not an exact science it’s really important, making a big mistake and overpricing could cost you money. Properties that are initially overpriced frequently end up selling for a lower price than they would have if they had been first priced correctly.
Setting your asking price too high will reduce the number of potential buyers you attract and extend the time your property is on the market. Buyers start to question what is wrong with it when that occurs. Also, lots of agents may overvalue your home in an effort to win your business. Watch out for this trick and avoid this mistake.
#2. Lack of a marketing strategy or case studies
Choosing the right agents to value your property is vital. A lot of agents will arrive with a valuation or market estimate with nothing but their thoughts. When visiting your home, an expert agent should be prepared. As well as local knowledge of similar properties, they must have a sample of a home marketing strategy on hand to demonstrate to you, the vendor, what they can accomplish for your specific property. When it comes to promoting what is perhaps your most important asset, one size does not fit all. The offers and values of a product or service are frequently increased by anything from 10 to 15 thousand pounds with a customised marketing campaign. Good estate agents recognise this and will utilise specific strategies to find the best way to sell your particular property, because they want to get the best price for you. Moreover, it is crucial to comprehend the flow of your marketing and sales procedure. A case study is the best tool for this. To be guided through examples, ask your prospective agent.
#3. An agent who is rushing and has no deadlines
You can have several “irons in the fire” while considering selling your house. A new house purchase or figuring out your precise next move may be on your mind at the moment. Realistic time frames will be discussed, and an effective agent will work with you to choose a course of action for advancement. What date will the “Marketing Action Plan” start? When can you anticipate receiving offers? How soon does the sale close once you accept an offer? How soon can I submit an offer on my new house? Help from the agent on purchase prices, options to go about finding another property in the local market, and detailed timescales, can be key to avoid the pressure of financial trouble if you are going to buy a property before you have completed selling property.
#4. Ignoring your gut feeling
Let’s face it, you have come this far thanks to your gut feeling. It is important to find an agent that you feel you can trust. So, ask yourself if this agent is what they’re made out to be. Do they have reliable references? You want to know what you’re getting before you commit to paying agent fees. On their website or on social media, a reputable agent would have clients’ Google reviews. Do these exist? Can you work well with this agent? Do they possess a smug level of knowledge? Do they speak to you or are they talking over you? Is the agent interested in your property or just seeking a listing? Do they offer suggestions for painting or for repairs? Do they give you sound advice or just what they think you want to hear? You need to feel comfortable with everything they tell you being truthful and achievable.
#5. Employing a Slack Agent without a backup strategy
Not all houses sell straight away after being released, and some require a little more effort than others. Since this is common, a professional agent will go over in detail with you what will happen if your home doesn’t generate any acceptable bids within the first six weeks. A dishonest representative will request that you reduce your pricing without first suggesting any alternative workable strategies. It is the agent’s responsibility to generate as much interest as they can to bring in as many viewers as possible to your house, so if the agent didn’t suggest another strategy then keep that in mind. Great agents always have a backup strategy!
