Picking the right estate agent is crucial before you start looking for a new home to purchase. This is especially the case when it is your first time purchasing property and you want to avoid detrimental mistakes that can cost you valuable time and money.
Red Flags When Hiring An Right Estate Agent
Red flags are your first warning sign that you should not work with a particular real estate agent and you should hire someone else.
Forcing You To Have A Pre-Approval Letter
A common red flag is refusing to work with you before having access to a pre-approval letter. This implies that an agent does not have a range of connections in the property industry and will not be able to help you find a lender.
Pressuring You To Sign Long-Term Contracts
Another bad sign is if a property agent pressures you to sign extended contracts. When you first start working with an agent there is no need to commit yourself to them because they have not proven themselves yet.
There is nothing wrong with signing a short three-month contract but anything longer than this suggests the agent does not have faith in being able to find you a new home anytime soon.
It is understandable why an agent will want to work exclusively with you. But ultimately, you need to make the decision that best suits your ambitions of finding a new home. Regardless of whether an agent gets their full commission.
Avoiding Or Not Answering Questions
You should be aware of any questions that an agent avoids or does not provide a clear answer for. Good estate agents are trustworthy and genuinely want you to find a property that matches your needs. Once you have signed a contract and confirmed that a specific estate agent will represent you, they should answer all your queries.
Not Writing An Offer Up For You
Some estate agents will not be willing to write an offer for you because they want more money or other perks. However, their job as property professionals is to advise you and figure out what you need. Hence, if an agent is difficult to work with, go find another one.