October 22, 2013 | No Comments YetTags: beware of realtor scams, broker, buying a home, dual agency, dual agent, field test, gimmicks, hiring agent, interviewing agent, looking for agent, New buyer, new seller, Real estate, Real Estate Agent, red flag, selling a home, warning signs
Wheatland Realty Agent Nicole Tudisco warns Prospective Sellers and Buyers of the Top 3 Agent Gimmicks to beware of when dealing with Real Estate Agents.
Top 3 Agent Gimmicks
The very foundation of Wheatland Realty is to be knowledgeable and upfront with all of our clients and potential clients. Nothing drives us more crazy than some of the agent tactics used to win over a client. Make no mistake, we are huge advocates of healthy competition and believe everyone should interview at least 2 agents if not 3. It’s just when we know the ‘twist’ used for a clients’ deciding factor may have been misleading, we are disappointed. We don’t get upset, we just wait for them to call us later! In the meantime, we get to write a blog like this!
1. The agent has a “buyer” for your home!
You are ready to sell your home and while interviewing your prospective agent they say they have a buyer for your home already. Ok great! Where is the offer then? This should be a red flag since you haven’t even listed it yet. How can this agent be so confident their buyer will actually buy your particular home especially if they haven’t seen it yet?
The other side of that coin is that now you are looking at a dual agent if they really do have a buyer. We don’t do dual agency, EVER. Why is Dual Agency an big deal? Well, it’s an easy answer. How can your listing agent promise to get you the highest possible price for your home if they have also promised their buyer the lowest possible purchase price? They can’t, simple as that….
2. Every house you walk into is a “great house”!
I have never met a buyer, in any price range, who got 100% of what they were looking for. Just watch an episode of House Hunters! There is always a little give or take when home shopping. Beware of the agent just wants to make the sale! A good agent will give you the information you need to make the best choices for yourself and then guide you through the purchasing process. It’s a red flag if you are feeling pressure in every house or they are pushing the house they have listed. You may want to re-think what kind of an agent you want to represent you.
3. If you home doesn’t sell in 90 days they will “buy it”!
Notice they didn’t say they would buy it for market value. Again, red flag on the play!! It’s not dishonest for them to buy it just below market/appraised value, as they will sell it for a profit or simply break even. If you had to sell your home quick, you should price it aggressively. Chances are you will still come out ahead of the offer you would have received from the agent.
So how do you find a good agent? Get a couple referrals from people you know, search the web in your area and interview 1-3 agents to sell your home. Make sure you field test your agent if you are a buyer. Field test means have them show you 2 or 3 homes before you commit. You are handling a large asset and possibly the most expensive purchase you will ever make. It is more than important you fully trust your agent to guide you through the process, and to have no red flags!!
BTW- We’d love to be on your interview list!
Nicole and Tony