5 BUYER AGENT
RED FLAGS
OSCAR DENG
They tell you "it's always a good time to buy."
The market goes up and down, and nobody can predict where prices are going to go in a day, or a month, or a year. At the end of the day, the decision to buy should always come down to your personal situation and goals. Are you relocating for a job? Are your kids moving out, or family moving in? Are you starting a dual-city lifestyle? These are the type of questions that should shape your decision before any social media market predictions.
They pressure you to sign an exclusive agency agreement
While signed agency agreements are needed before an agent can show you a home, you as the client have several options to put an agent to the test and see if they're a good fit for you before locking yourself in. Video walkthroughs are a great way to evaluate both an agent's skill and that home you've been eyeing without needing to sign an exclusive agreement. If you're hoping to try out multiple agents (which I highly recommend) before deciding on the one that understands you best, you can sign multiple non-exclusive agreements that allow multiple agents to work for you without you explicitly owing any them a commission until you close on a home. Any agent who stands by their work should have no problems signing these.
They're lazy and don't preview listings for you
Real estate agents are in abundance these days and a majority of them are looking to make a quick buck for the least amount of work possible. These are the agents that will send you listings with upcoming open houses and tell you to go view it on your own. Instead, a proficient and valuable agent will save you time by previewing homes that fit your criteria to filter out any listings with hidden issues or bad aspects so that you are only spending your valuable time walking through the best of the best listings that are worth looking at in person. An even better agent will scout off-market homes that might better match your criteria at a better price than available listings.
They Don't understand creative financing
Gone are the days of two percent mortgage interest rates. With rates expected by many to float around five percent in a stabilized economy, your agent needs to understand mortgage basics to be able to seek out the best deals for you, whether that's an assumable below-market-rate FHA loan or seller-carried note. Having an agent that understands creative financing and mortgages will give you that much more negotiating power when you are ready to make an offer and will show the seller that you are serious and willing to work with them to close on the house.
They Don't put in the extra effort to get to know you
For many agents, especially in hot markets, real estate is numbers game where their work strategy is to put all their energy into closing that next sale and maximizing dollar volume sold. Those agents do very little to provide lasting value to past clients and as a result may fail to truly understand their clients, both in and out of their immediate real estate needs. You want an agent who deeply internalizes your lifestyle, future goals, and personality such that they can source the best homes or buyers for you and can keep you plugged in to their network of service providers, clients, and agents as well as future investment opportunities for years to come.
Ready to talk to an agent clear of these red flags?
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No exclusive agreement needed until you're sure we're right for you.
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