Selling Your Home? Here Are 4 WRONG Reasons to Hire a Listing Agent
A listing agent (also known as a seller’s agent) has the job of helping you prepare your home to sell, marketing your home, and helping to ultimately get your home to that “SOLD” status! A listing agent has many responsibilities—in addition to having a thorough knowledge of the local real estate market, they need to help you figure out your asking price, get your selling paperwork in order, create marketing materials for your home (like online advertising, print advertising, your listing, etc.), put a lockbox on your door, coordinate showings, working and negotiating with buyers, and of course, the final closing procedures.
As you can see, a listing agent has some pretty serious and important responsibilities! That’s why it’s incredibly important to hire the right listing agent for the right reasons.
We want to help you avoid some costly mistakes when you’re choosing your listing agent. Here are 4 wrong reasons to hire a listing agent:
1. You’re offered a low commission.
The old saying of “You get what you pay for” really comes to mind here! Agents with experience and knowledge know what they’re worth, and they know that seller’s are willing to pay for their services. Agents who offer a low commission will also offer lower quality services, and this means your home might sit on the market, sell for too low of a price, or not sell at all. How will you know what’s right for your region? Do the research! Look online, reach out to several agents, and get a feel for what’s normal in your market.
2. They’re your friend or acquaintance.
It can be tempting to just go with a friend who is a listing agent, or go with someone’s random recommendation. After all, you don’t want to hurt anyone’s feelings, and finding an agent can be stressful! However, there are some serious downsides to doing this—mixing business and friendship can be challenging. Check out the pros and cons of hiring your friend as a real estate agent!
3. They’re making too many promises they can’t actually guarantee.
If they say “I’ll sell your home in less than a week!” or “I will sell your home for 105% of the list price,” it’s probably too good to be true. They may even show you their record of doing so in the past, but when it comes to real estate, there are often no guarantees. A good real estate agent should be sharing an honest assessment of what they THINK might happen, but making too many promises is definitely a warning sign.
4. You want to do a beginning agent a favor.
Many of us can remember a time in our lives when someone did us a favor that really helped us out. A beginning agent might convince you to feel sorry for them and to give them a chance. There is nothing wrong with working with a beginning agent—after all, everyone has to start somewhere! But be sure to do your research first. Is the agent with a reputable brokerage? Are they supported by a team, or some great mentors? Making sure a beginning agent is adequately supported and learning more about their experience will help you make the best decision here.