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Whether you are hiring a Realtor to help you buy or sell a home, there are a few red flags and pitfalls to look out for.
The most common thing I see when people have tried to sell a home and it didn’t work is that they hired a friend or family member to sell their home. While hiring a friend or family member isn’t always a bad idea, you need to make sure that the person you are hiring is full-time and has a lot of experience.
It’s important to keep in mind that 87% of Realtors in Maricopa County are either new, part-time, or have been in the business for less than five years. When you hire a real estate agent, you need to make sure that they are selling at least 100 homes a year before you hire them to work for you.
You should also find out if your agent has training and certification in contract negotiation. I am a certified negotiation expert. Less than 1% of agents in the U.S. have that certification. In fact, real estate school doesn’t teach agents anything about negotiation. They teach you how to fill out a contract and a counteroffer but not how to negotiate and defend your seller’s equity. That’s extremely important.
In fact, our clients are getting an average of 2% more for their homes than the average Realtor in the MLS because all of our contractors are negotiated by certified negotiation experts.
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87% of Realtors in Maricopa County are either new, part-time, or have been in the business for less than five years.
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Finally, make sure that the agent you hire charges at least 6% commission. Why? There are a number of agents who charge less than 6%, but those agents are doing what I call a “list and leave.” They put the home on the MLS, stick a sign in the front yard, and wait for a buyer to show up.
The problem is that it takes a lot longer to sell their home because no marketing is being done. The longer the house sits on the market, the lower the offers will be. The seller might have saved 1% or 2% on commission, only to lose 3% to 5% on the sale price because the home took too long to sell and there was no marketing being done, causing the seller to leave a lot of equity on the table.
If you are looking to buy or sell out of state, let me know. I am part of a network of the top 1% of agents in the United States. I can find you a great Realtor through the RE/MAX referral network.
I would love to talk to you more about what you need to look for when hiring a real estate agent. If you have any questions, just give me a call or send me an email.
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