Introduction
Choosing the right realtor is a critical decision when buying or selling a property. However, not all realtors are created equal. Hiring the wrong one can result in wasted time, money, and missed opportunities. In this article, we'll explore six common signs that it might be time to fire your realtor and find someone who truly understands and meets your needs.
Takeaways
- Interview multiple agents and do thorough research before making a hiring decision.
- Treat the listing or representation agreement seriously as it represents a commitment to your chosen agent.
- Address any concerns or issues with your agent, trying to work them out before considering termination.
Avoid This Problem
Hiring an incompetent realtor can have serious consequences. From spending unnecessary time on the market to settling for less than your property's true value, the wrong realtor can cost you dearly. Choosing a realtor isn't easy, especially when there are so many options available. To make an informed decision, be sure to check out our articles on "How to Choose a Quality Realtor" and "9 Red Flags When Choosing a Realtor." These guides will help you evade future disappointments.
Below, we highlight some of the key indicators that you may have chosen the wrong realtor.
1. Lack of Communication
One of the most common real estate complaints is poor communication. Sellers often find themselves waiting weeks without any updates from their realtors, even in a market as slow as Fort Hood. A good realtor should dedicate time every week to keep sellers informed of any showings or developments, ensuring that you're always in the loop. If your realtor fails to communicate consistently or doesn't update you on the progress, it's time to consider other options.
2. Ignoring Your Interests
Another complaint often heard from dissatisfied clients is realtors who don't advocate for their interests. For example, showing you properties that don't align with your preferences or pushing you towards a builder solely for personal gain are clear signs of a realtor who isn't prioritizing your needs. A reliable realtor will always strive to understand your requirements and work tirelessly to fulfill them.
3. Lack of Market Knowledge
Knowing the market is crucial for any realtor. Your realtor should be well-versed in the current market conditions, possess in-depth knowledge of the local area, and have the ability to accurately evaluate the value of properties. An uninformed or inexperienced realtor can cost you thousands of dollars by misjudging home values or failing to spot market trends. Ensure that your realtor can back up their recommendations with solid data.
4. Inadequate Marketing
Effective marketing is key to selling your home quickly and at the right price. Putting up a listing on the MLS is not enough in competitive markets like Fort Hood. Your realtor should utilize comprehensive marketing strategies, such as listing on popular platforms like Zillow and Trulia, engaging in paid advertising, and using high-quality photography. Cutting corners in marketing efforts can significantly impact your ability to attract potential buyers.
5. Lack of Personal Connection
Building a good working relationship with your realtor is crucial. If you and your realtor don't get along or have conflicting personalities, it can lead to unnecessary stress and frustration. It's essential to work with someone you trust, communicate effectively with, and genuinely enjoy collaborating with during such a significant transaction. If there's a personality clash, it's best to find a realtor you have a better rapport with.
6. Unethical Behavior
While rare, encountering unethical behavior from a realtor can be a nightmare. Realtors are bound by a Code of Ethics that ensures they act in the best interests of their clients. However, some unethical practices may arise, such as overpromising the value of your home, enticing buyers to overpay, or mishandling client funds. If you suspect any unethical behavior, it's crucial to take appropriate action and report it.
How to Part Ways with Your Agent
The Contract Expires
In most cases, real estate contracts have a set term, commonly around six months for listing agreements. However, terms can be negotiated. Once the contract expires, you are typically free to move on. However, bear in mind the protection period, which usually lasts around 30 days after the contract ends. During this period, the agent may still be entitled to a commission if you sell to a buyer they introduced during the protection period. Terminating the agreement early may involve fees, depending on the circumstances.
Before the Contract Expires
If you're unhappy with your realtor but still have months left on your contract, you can request to terminate the representation early. Most realtors are open to this if they see that there's a breakdown in the working relationship. However, if the realtor or brokerage refuses to terminate the agreement, and you believe there has been a breach of contract or unethical behavior, you may need to seek legal counsel.
What if You're in the Middle of a Deal?
If you're already in the middle of a transaction and encounter an issue, try to resolve it with your agent first. Open communication and understanding can often help rectify the situation. If no resolution is reached, you can request that the agent's broker reassign you to a different agent within the same office or have the broker represent you directly. In cases where you're working with a single-agent brokerage, the path forward may be more challenging.
Conclusion
Don't let one bad experience tarnish your view of all realtors. The right realtor can make all the difference when buying or selling a property. Look for someone who is experienced, knowledgeable about the market, values your time, and is committed to providing exceptional service. If you're in the Killeen/Fort Hood area and looking for a reliable agent, consider including me in your interviews. Together, we can ensure a successful real estate journey.
