Real Estate Busters! Should You Work with Desperate Agents $$$ and How to Know


Choosing an Agent Part 3: Should you Work with Desperate Agents $$$

 

This continues a series on choosing a real estate agent.

Two, how many transactions did the agent do last year? Now, that’s no fun to ask somebody or maybe the year before that or total. The point is if you’re working with an agent who is desperate for money and they haven’t had a paycheck for a while, how can you inherently count on them to fulfill their fiduciary duties to protect you financially and look after your best interest? If they need a deal and they need one yesterday how can they negotiate the best for you and protect you or tell you to walk away from a contract? It would be very hard for them to do. You need to work with an agent who is doing a lot of business, who has multiple homes under contract generally, two, three, seven or ten homes under contract generally in a pipeline so that they have no financial stress on themselves and therefore they have freedom, liberty to passionately protect you financially and give you advice as a consultant not as a desperate sales person.

There is a huge difference there, you need to work with powerhouse realtors and they can protect you the most.

Next, consumer advocacy, is this agent a consumer advocate and how do you know, have they, have they video blogged or they blogged or they the newspaper much, what have they done to prove outside of talking to you that they are going to really look out for your best interest, you know, these days with the internet and the 2.0 type realtors which is what, what the JustNewListings.com team is all about, I have a track record over the last six years of consumer advocacy in the market place pointing out over price condos right nearly et cetera and putting my name on the line with statements about the market et cetera that document that I’m sincere about protecting buyers and sellers in the real estate market.

And I have many links to send you on that but the realtor you’re looking at any of them and any market there is going to be a number of excellent agents. So, I want to be honest about that. But they need to be able to show you that they are a consumer advocate in Clarendon and document it somehow.

Stay tuned– Choosing an Agent Part 4: Instincts — Does Agent Have Fingers on Pulse of the Market? Prove it.

13 Responses

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May 3, 2011

Good post Jay. I agree with what you are saying and would add one thing to the flip side of your point. Be careful about working with an agent that is too busy. The one man/woman team that is overwhelmed with their business. In real estate the stakes are too high to let even the smallest details slip through the cracks.

May 3, 2011

Great point, Adam. Very true.

May 7, 2011

That’s the truth Adam! Using a busy agent can be a great thing if that agent is efficient and has has an attention to details. Beware of those agents that are busy just because they are having a hard time swimming in that glass of water :)

Agreed. Too busy can be as bad as desperate. Although I tend to think the desperate agent could jeopardize the clients interests more. This is simply because the temptation of the agent to place their interest ahead of the clients can do far more damage than getting sloppy in my opinion.
Both can hurt their client, but the ethical/legal issues a consumer can face if their agent were crossing the line intentionally are far more serious.

May 11, 2011

Chiming in to support Adam’s comments. If your agent is trying too hard to impress you with how busy he or she is, dump them. They are obviously struggling with a full workload and most likely will not be able to represent you to the best of their abilities. It’s up to the agent to manage their clients fairly and efficiently; too much workload is a sign that they are in over their heads.

May 13, 2011

That’s the truth Adam! Using a busy agent can be a great thing if that agent is efficient, has knowledge of the area and has has an attention to detail with their workload.

May 16, 2011

Both articles in this series make some great points. Choosing a real estate agent is something many homebuyers don’t seem to think much about-they simply use whomever their friend referred them to or the first one they come across. Especially in the current market situation it’s important for homebuyers to recognize good quality agents and not be afraid to ask the questions that will help them find out. Thanks for getting the word out regarding this important step in the homebuying process.

May 16, 2011

I am still quite skeptical of using videologging as a marketing tool for real estate and our primary form of marketing is via Email Newsletter and the Newspaper. How do you spread your time marketing?

Any agent who looks at a customer or client as a dollar sign, will loose business over time. Whether the agent is busy or slow, if they provide good, thorough service, the client will remember and refer the agent to others and come back for repeat business and that is what real estate is all about.

June 2, 2011

All the comments are true, I suppose. In my mind, it’s the agent’s track record. Does the agent have a history of getting deals to the closing table or do too many getting fumbled.

June 13, 2011

You know I have seen this go both ways. Some have an agent that has no business and no knowledge and others have the extremely busy agent that never calls them or gives them an update. Buyers really need to think about what is important to them when they interview agents.

Agree with and really liked the post! If you are to busy and the client knows it then you are not offering great customer service. If you are to busy then perhaps you should have less clients? If your clients feel you are to busy then you are not offering great customer service.

September 15, 2011

Couldn’t agree more. The other thing I find that so many home buyers have no idea about are Absentee Brokers which could definitely cause home buyers and sellers a problem if the transaction has difficulties. With the Internet, there are more lead generating sites selling leads to hungry agents and out of State and out of Area Real Estate Brokers who pass RE tests in each state and start gathering home buyers and home sellers.

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