As with any profession, real estate agents can perform their duties in a less than perfect manner. While most real estate agents are top-notch professionals, it can be costly to be unaware of the signs of a bad agent. Therefore, it is helpful to know the following five ways that bad Raleigh real estate agents take advantage of their clients.
According to data compiled by the National Association of Realtors, there are more licensed real estate agents than there are homes listed for sale. Many people are attracted to the lifestyle of selling houses for a living. It’s understandable, brokering the sale of homes can seem glamourous from the outside, and many times it’s a very rewarding career. Unfortunately, many of those who get their license are unaware of the rigors of building a client base and earning business in an already saturated field. This can lead to less scrupulous people who present themselves in a manner that misrepresents their experience. This is one way that bad Raleigh real estate agents take advantage of their clients.
If you are house-hunting, an experienced agent will listen to you and ask detailed questions to understand just what you seek. It will become evident if your agent does not know the Raleigh real estate market well. If they show you properties that simply don’t match up, it is clear they are lost, and you are not with an expert. Also, if they are unable to show properties during normal business hours this usually means they have a full-time job, and real estate is a side gig for them. There is nothing wrong with selling real estate on the side. More power to those who are willing to work hard to build their business. This is fine as long as they are transparent about it.
Buying The Listing
Many agents will try and ‘buy listings’ from their clients. This usually occurs when you have interviewed one or more agents and you encounter one that says “I can get you more money.” Then after the home sits on the market for an extended period of time they will recommend dropping the price. The amount of money a home should list for depends on market data, mainly comparable sales in the area. Ignoring this data and brazenly declaring that someone can get you more money is a red flag. And it is a red flag that is mentioned, and frowned upon, by the North Carolina Real Estate commissions. If an agent feels your home is worth more money let them show you comparable properties and back up their opinions with facts.
Always Yes – Never No
This may seem contrary to common sense but a good agent needs to set correct expectations and be assertive at the right time. Always saying yes to a client for the sake of avoiding confrontation will lead to problems later. What you need from a good agent is honesty. Their know-how, advice, and opinion are valuable and necessary to ensure the best outcome for your listing. If your agent exclusively presents the positive side of things, sharing only the pros about a property but never brings up the potential issues or cons, this may be a sign they are less than honest with you. Afraid of losing business, an agent may say yes to anything. Telling you whatever you want to hear, even if it is not valid, is one way bad Raleigh real estate agents take advantage of their clients.
Lack Of A Marketing Plan
As of this writing, many agents are enjoying a very wide margin of error with regard to marketing. All they have to do is price correctly and list the home in the Triangle Multiple Listing Service and wait for the showings and offers to roll in. An agent needs to have a plan in place to effectively market your house for maximum value. At Wake County Home Buyers we have a trusted agent that lists all of our homes that we buy for cash, renovate, and resell. Our agent stages the home show it shows well, provides the photography and videography, has a plan in place for getting the listing advertised to all the agents in the area, as well as a solid internet marketing plan. You should expect no less from the agent you trust to sell your greatest single investment.
Making promises without any follow-through is another way bad Raleigh real estate agents take advantage of their clients. I had met with a seller a while back who called me about buying her home. One thing she mentioned was that it sat on the market for 9 months with a local agent. When I asked the seller why it didn’t sell she mentioned that the agent wasn’t doing a good job. They said their agent declared that if no one would buy their house the agent would buy it! Needless to say, the house did not sell and the agent never bought the house. This is a good example of a false promise made upfront just to get a listing.
Good agents have a follow up system in place so that they can answer calls, texts and questions as they come in. The sale of a home is a complex process that involved many specialists, attorneys, lenders, brokers, etc. Even if you have bought and sold a home before you will have questions throughout the process. A good agent should respond to your questions promptly. A 24-hour turnaround is a good benchmark for receiving a returned call. It’s ok if the agent has an assistant to help them with calls and texts. As long as questions are answered in a reasonable amount of time.
If you’re ready to work with the best, whether you are buying or selling Raleigh property and looking for a real estate agent you can trust, contact Wake County Home Buyers. We are happy to refer our trusted agents.
If you are selling, why not skip all of the hassles and work with a professional local home buyer? Why worry about possibly dealing with a bad Raleigh real estate agent? Wake County Home Buyers makes selling easy, buying houses as-is, for a fair price, paying in cash, and usually closing in a matter of only days. In the market to purchase? Wake County Home Buyers has a steady inventory of the best investment properties! Call Wake County Home Buyers at (919) 473-6885 or send us a message to learn more.