Mistake 4 – Failing to Check Out the Agent

CHOOSING AN AGENT BASED SOLELY ON A HIGH QUOTED PRICE and a low commission rate can be a dreadful mistake. Agents who offer low commissions can be poor negotiators. You are hiring an agent to negotiate the best market price for your home. Take the time to ‘check out’ the agent. A little research can mean BIG savings for you. Once you have signed up with an agent you may be horrified at the things the agent says and does when handling the sale of your home. Many agents openly encourage buyers to offer lower prices. Many agents reveal confidential information about sellers, such as “These people are in trouble.” If you have a pressing personal reason for selling – illness, divorce, financial commitments, the agent may tell buyers about your reason. This really weakens your position.

 

Your Solution…

 

TREAT THE HIRING OF AN AGENT LIKE A JOB APPLICATION. Ignore written references because you may only be shown the good ones. You must discover if the agent is honest and competent. There are two ways to do this. First, ask the agent for details of all their current home-sellers. Call some of these people and see if they recommend the agent. And second, you should ‘Mystery Shop’ the agent to make sure the agent is not going to say one thing to you and another thing to buyers. Call the agent’s office and make enquiries about one or more of the homes they have for sale. Ask questions such as “Why is the home being sold?” and “What is the lowest price the owners will take for this home?” ‘Mystery shopping’ will tell you if this is the agent you want to handle the sale of your home.

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Go To Mistake 5 – Signing-up For Too Long