Selling a home is one of the largest business transactions you can make in your life. However, often people make emotional or impulsive decisions that will cost them a lot of money and time — and that they will later regret.
Choosing the right real estate agent is the most important step in the process of buying and selling your home. Although this is the most important step, it is also the one where individuals will most often make a mistake.
Here are four main mistakes that home buyers and sellers will make when choosing a real estate agent in Brampton, Caledon, or Georgetown:
1. My friend sells real estate so I should choose them.
Friendship alone isn’t enough to establish a professional’s credentials. Use tough standards when determining the right sales representative for you. Someone who is a true friend will understand and appreciate that this is a business decision and offer any help to find what and who is right for you.
Sometimes your friend might be the right sales representative for you, but does not work in the area where you are buying or selling your home. In this case, it might be a better idea to ask your friend for advice in helping you find a local agent, who knows the area well and can help you to ensure you get top dollar for your home.
2. You’re the only agent who agrees with my selling price.
There are some real estate agents who will just tell you what you want to hear. However, selling your home at the highest possible price is not always the best strategy to use.
If your home is priced properly, based on the market it is entering, then lots of agents will show your home to their buyers. If your home is priced too high, then there will be minimal showing activity on your house and it could sit on the market for some time, making the process stressful for you as the seller.
You need an agent who will tell you what you need to hear versus what you would like to hear.
3. I’m going to list with the real estate agent who has the lowest commission.
While this may seem like your best bet in the moment, at the end of the day you get what you pay for. Paying a cut-rate commission usually gets you a sign at the front of your home and your home on the MLS System, with little-to-no effort from your agent.
You must realize that agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising costs money — the lower the commission, the less incentive for an agent to put up his or her own money to market you home.
Also, negotiating ability is an important skill in an agent. Are you willing to put your faith in an agent who can’t even negotiate their own commission?
4. All realtors pass the same test therefore they must know the same things.
The real estate profession is constantly changing and the best real estate professionals stay current with those changes by continuing their education.
Some go beyond the minimum requirements by acquiring professional designations that show they took additional specialized courses. Other agents become experts in certain areas. You wouldn’t hire an agent who strictly works with condos to sell your farm, would you?
When selecting an agent, you need to get someone who has experience with homes like yours and in your geographical area. The best possible agent is the one who will do the most effective job of marketing the property, negotiating favorable terms and conditions, and communicating with the seller to make the process as smooth as possible.
It is important that you consider all factors when choosing a real estate agent for you, so you are able to smoothly navigate the home buying and selling process. Try to avoid these common mistakes when choosing a Brampton real estate agent and choose what is best for you.
To connect with some experienced and highly qualified real estate agents in Brampton, contact the team at the Paula Mitchell Group today.