Buying a home is the biggest
investment you’ll likely ever make, and it has all sorts of implications for
your personal and financial future. This is why it’s so important to work with
the right agent.
Too many
people don’t realize just how much can go wrong if they make the wrong hire.
There are some very serious problems that can arise if you accidentally work
with the wrong person to buy or sell a home. Here are some of them:
1. Not listening
A professional real estate agent (or any
other professional for that matter) will take the time to listen and understand
their client and the client’s needs. The wrong one, however, isn’t going to
listen to what you have to say, and will instead focus on what they want for
themselves.
This will
set the precedent for the rest of the process and make any real estate
transaction a miserable experience. An agent who doesn’t take the time to know
your wants and needs will cause you stress, confusion and heartache.
2.
Bad advice
If there’s one thing you need a competent
agent for, it’s the advice they’re able to provide. A good agent will serve as
your trusted advisor, guiding you through the myriad of decisions you’ll make
when buying or selling a home.
A bad
agent, however, will either give you advice that’s not based on any experience
or research, or is just plain self-serving. This can cost you financially or
prevent you from accomplishing your goals altogether.
3.
Failed negotiations
Lots of people consider themselves good
negotiators, but very few actually are. While negotiating might be just one
part of real estate, it’s an important one. You need someone on your side who’s
working in your best interests in a competent and effective way.
A bad
agent will either negotiate in such a way that attainable deals fall through,
or will simply negotiate in their own best-interests rather than the interest
of their clients (you).
4.
Lack of responsiveness
This may or may not be one of your
pet-peeves, but unresponsiveness in something as complex as a real estate
transaction can be an absolute nightmare for the person whose money, home, and
future are on the line.
A great
agent is available most any time you need them (within reason). The wrong one,
however, will let your calls, messages, and emails go unanswered while you
worry yourself sick about what’s happening (or not happening).
5.
Missed opportunities
Real estate is a business that moves quickly,
especially when the market is hot. Even when there’s high demand, there are
still opportunities for buyers, and a good agent will know how to spot them and
take advantage quickly.
The wrong
agent will miss good opportunities because they’re unable to recognize them,
will move too slowly and miss them, or just generally not care.
6.
Legal pitfalls
Real estate is complex by nature, and legal
questions arise on a frequent basis. Thankfully, good agents have the knowledge
and resourcefulness to help you navigate them and can find solutions even if
they’re not immediately apparent.
Hiring the
wrong agent will mean that when the inevitable problems creep up during the
transaction, they’ll either give you the wrong advice on what to do, or will
simply look at you and shrug their shoulders.
7.
The process won’t be enjoyable
There’s no rule that says a real estate
transaction has to unpleasant. Yes, it’s a lengthy process that has lots of
implications. But if you take a step back and think about it, buying or selling
a home is usually a positive thing—whether it’s an upgrade, a money-saving
downgrade, or a general lifestyle change. You should work with someone who can
at least make it a pleasant experience.
And that’s
the thing about hiring the wrong agent. They’re all but guaranteed to make the
process one that you won’t enjoy.
So
choose your next real estate agent wisely; your happiness—and the height of
your high five when it’s over—will likely depend on it.
Credit : Ramprasad Padhi
Founder & CEO – Mumbai Properties
Consulting Pvt Ltd
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