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As an investor, you want to work with the best of the best. Your investments are your future and you do not want to gamble those away on an agent who is not qualified to be helping you.
People often take the time to discuss what makes a good, reliable realtor. However, it is also important that you know what to look for when trying to identify a bad agent. This way you can spot the signs early before it is too late.
So, to help you ensure you are working with the best realtor’s available, here are the top 10 signs of an unprofessional, bad real estate agent.
But first, if you are looking for a mortgage broker, instead of worrying about avoiding a bad one, click the link below to book a free strategy call with our incredibly skilled, expert mortgage team today.
A Bad Real Estate Agent Doesn’t Do Many Deals
Realtors’ careers live and die on referrals and repeat business. That means if you encounter a realtor who is not doing a high volume of deals, that is a red flag.
Sometimes slow periods occur, however if your real estate agent consistently has slow months with very few deals closing, you should reconsider that working relationship. After all, if that realtor was good at their job, you would expect for them to be doing more deals and getting more referrals.
A Bad Real Estate Agent Isn’t Concerned with Establishing a Relationship
Another sign of an unprofessional real estate agent is a lack of interest in establishing a relationship with you as their client. By forming a relationship as your agent when you are buying, they should be concerned with becoming your agent again when it comes time to sell.
If you are an investor, they should be even more focused on ensuring they make a connection with you. After all, if you do a high volume of deals each year by yourself, they should want to be a part of the action.
A Bad Real Estate Agent Doesn’t Ask About Your Goals
As a real estate investor, you are constantly working towards your investment goals to build the strongest portfolio you can. To do so, you need to invest in properties that help you reach that goal.
If your real estate agent is not asking about those goals, they are not going to be effective in helping you reach your goals, so stay wary of them.
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A Bad Real Estate Agent Never Makes Suggestions
Even if a realtor asks you about your goals and strategies as an investor, that does not necessarily mean they are going to be a good fit. A qualified agent should be willing to make suggestions or look for further details about your investments to best help you succeed – while also growing their own knowledge base at the same time.
A strong agent is driven and will look for the best options available. For example, if you are selling a property that is currently unfurnished, a good agent will have recommendations for a staging company or real estate photographer to make the home look as appealing as possible to potential buyers.
A Bad Real Estate Agent Doesn’t Know the Lingo
The amount of industry-specific terminology that is thrown around during a real estate deal can be overwhelming to listen to. That is why you need an agent who understands the lingo and can talk you through confusing and complicated portions of your purchase.
If a realtor you are working with does not know the key terms that you are coming across, it may be time to make a switch. After all, you never want to be working with an agent who simply does not know what they are talking about.
A Bad Real Estate Agent Doesn’t Know What to Look For
Your real estate agent is your keen eye into the world of real estate investing. They should be able to calculate the approximate value of a property you are buying and selling within a reasonable margin so that you know you are getting a good deal.
However, if that realtor does not know what to look for, they will not be able to find well-valued properties that can be used to make strong investments. They need to be able to find comparable properties to show you the value of an investment and to aid you during negotiations. If a property is over-valued, they should be able to point it out and use a comparable to help you negotiate the price down to a better value.
Unprofessional Attitude and Behaviour
If your realtor has a bad attitude and does not conduct themselves in a professional manner, get out of there. Whether they are sending unprofessional emails, bad mouthing other agents, being rude to other sellers and buyers, or just showing up late consistently, unprofessional behaviour is always a red flag.
Your realtor should be confident that they can get you the best deals available and sure that they know exactly what they are talking about. At the same time they need to be cooperative and humble. Real estate agents are people too and sometimes they are wrong or misinformed and if your realtor cannot own that fact and adapt with you, it is not worth your time to continue doing business with them.
A Bad Real Estate Agent Lies to You
If there is one thing you should never tolerate, it is a real estate agent who outright lies to you. It does not matter if they are lying about the condition of a property, hiding disclosures you should be aware of, or making any other false or misleading claims, they are not worth your time, and you need to end that relationship immediately.
Sometimes a realtor may be cheap because they are generous and trying to cut you a fair deal. However, more often than that, they are asking for a lower commission because they are simply inexperienced and trying to drum up as much business as they can to compensate.
As an investor you always want a good deal, but sometimes things are too good to be true.
Let Us Help You Find a Good Realtor
If you need help finding a qualified and professional realtor, let us help you. Here at LendCity we work with a variety of excellent realtors who would gladly help you with your real estate investments. So, give us a call at 519-960-0370 or visit us at LendCity.ca and we will connect you with a good realtor who will help you find meaningful success on your next real estate deal.
Alternatively, if you are looking for a great mortgage broker, click the link below for a free strategy call today.