If your estate agent is not the right fit you need to know what steps to take. Picture: RDNE Stock project
Choosing a real estate agent is one of the most crucial decisions a seller makes in the home-selling process because the right agent can be the key to a smooth, successful transaction, while the wrong one can lead to frustration and missed opportunities.
This is the most pivotal decision in the home-selling journey, influencing not only the speed of the sale but also its overall success and even the return on investment.
The choice of a real estate agent is a decision that goes beyond simply listing a property; it is a partnership, and both parties need to be on the same page and share the same vision,” says Yael Geffen, chief executive of Lew Geffen Sotheby’s International Realty
Ultimately, sellers should also expect their appointed agent to bring the following skills and attributes to the table:
“Unfortunately, not every agent is the perfect match for every seller and, occasionally, an agent may end up being good at talking the talk but not able to get the job done efficiently.
“However, there will be tell-tale signs that your choice might not have been the right one and recognising these indicators early on can empower sellers to take corrective action and ensure a smoother transaction.”
If you are selling your home, Geffen advises that you be on the lookout for these red flags and take corrective action sooner rather than later:
1. Lack of proactive communication
Effective communication is the bedrock of a successful real estate partnership. If your agent is consistently unresponsive, fails to return calls or emails promptly, or lacks transparency in keeping you informed about the progress of your sale, it could be a red flag.
A lack of communication not only breeds frustration but can also result in missed opportunities and misunderstandings.
What to look for:
What to do:
2. Limited market knowledge
An adept real estate agent should have a thorough understanding of the local market. If your agent lacks the knowledge to accurately assess property values, identify market trends, or provide insightful advice, it might hinder your ability to make informed decisions and optimise your property's sale potential.
What to look for:
What to do:
3. Ineffective marketing strategies
A proactive approach to marketing is crucial for attracting potential buyers. If your agent's marketing strategies are lacklustre, relying solely on traditional methods without leveraging digital platforms or innovative techniques, your property may not be reaching its full audience.
What to look for:
What to do:
4. Overpromising and under-delivering
An agent's promises should align with achievable outcomes. If your agent makes extravagant promises about the selling price, timeline, or potential buyers without a realistic basis, it may indicate a lack of integrity or an eagerness to secure your listing at any cost.
What to look for:
What to do:
5. Lack of negotiation skills
Effective negotiation is a hallmark of a skilled real estate agent. If your agent struggles to negotiate effectively on your behalf, it can lead to unfavourable terms, lower sale prices, or potential buyers slipping through the cracks.
What to look for:
What to do:
6. Limited availability and accessibility
Real estate transactions often require swift decision-making and responsiveness. If your agent has limited availability, making it challenging to schedule showings, respond to offers promptly, or accommodate potential buyers, it can impede the sales process.
What to look for:
What to do:
Geffen says that, very often, these issues can be easily dealt with through open and honest communication, but it can require some effort and there are times that it simply isn’t going to work out.
– Have an honest conversation
Open communication is key. Schedule a meeting with your agent to discuss your concerns, providing specific examples and expressing your expectations moving forward.
– Seek mediation
In cases where both parties are open to finding a resolution, mediation can be a constructive option. A neutral third party can help facilitate a conversation and explore potential solutions.
– Consult with the brokerage/agency
If the agent isn’t freelance and is part of a larger agency, reaching out to the agency’s management can be a next step. They may offer guidance, assign a different agent within the firm, or address the concerns through internal channels.
– Release from the contract
If the issues persist, you can cancel the contract as per the Consumer Protection Act by giving 20 working days’ notice but you will be liable for costs and will have to start the process all over again so it’s always advisable to try and work out the issues.
– Consider legal advice
While legal action should be a last resort, seeking legal advice can provide clarity on your options and the terms of the listing agreement. However, this route is typically taken in extreme cases where contractual obligations are not met.
“Choosing the right real estate agent is a critical decision that directly impacts the success of your home sale and recognising the signs of a mismatched partnership early on allows sellers to take proactive steps, whether that involves constructive communication, adjustments to the strategy, or, in some cases, seeking alternative representation,” Geffen says., adding that a successful real estate journey hinges on a collaborative and transparent relationship between sellers and their chosen agents.
Both parties must work in tandem towards a common goal, which is selling the property for the best possible outcome.
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