Real Estate Agents Article

7 Questions To Test
The Loyalty Of A
Real Estate Agent.

By Noel Peebles

Buying or selling a home can be especially difficult when dealing with an incompetent or disloyal real estate agent. Now, don't get me wrong, I'm not out to knock realtors.

I'm the first to admit that many real estate agents are excellent and worth their weight in gold. However, most real estate agents fall into one of three categories: good, average or poor agents.

Then, there is that worrying small percentage of real estate agents who are downright incompetent. Every industry is inflicted with this type of person and I suspect the real estate industry has more than its fair share of incompetent estate agents.

The truth is; a good and a bad realtor have one thing in common - their job is to be a "deal- maker." But, be warned - some real estate agents will perform all sorts of tricks to stitch up a deal. This is fine so long as they are not "stitching up" the home buyer or the home seller. There's nothing wrong with enthusiasm to pull a deal together - it is to be applauded. However, a good realtor needs to remain professional and ethical at all times throughout the selling process.

Unfortunately, most homeowner's are reasonably inexperienced when it comes to buying or selling a property. They rely greatly on the "perceived" ability of the real estate agent they are dealing with. In reality, most homeowner's are "fair game" for a disloyal, dishonest, or incompetent realtor!

In any negotiation, WIN - WIN deals are the best. But, sometimes when buying or selling a house, things happen to benefit just one party… the home buyer, the home seller or possibly just the real estate agent. Therein lies the danger. Who is the real estate agent really working for? Where do his or her true loyalties lie? With the home seller, the home buyer or themselves?

These 7 questions will help you decide who the realtor is really working for. Visit any open home and test these questions out on a real estate agent. Good or bad, the answers will reveal something about that estate agent and his or her ability and true loyalties. If the real estate agent betrays the home seller, they will betray you as well. If they defend the home seller, it's likely they will defend you too. Ask the real estate agent these 7 questions:

Ask A Real Estate Agent:
1. How much will the homeowner take?
You may learn the bottom price that the homeowner will accept.

Ask Real Estate Agent:
2. How much do you think the home will sell for?
You may discover that the real estate agent has an opinion less than the asking price.

Ask A Real Estate Agent:
3. When does the homeowner need to move out?
The estate agent may reveal an urgent deadline. This could be an advantage in negotiating a lower price for the property.

Ask A Real Estate Agent:
4. Why is the homeowner selling?
The estate agent may reveal a confidential reason for selling.

Ask A Real Estate Agent: :
5. How long has the property been on the market?
The estate agent may reveal if, or why, the property has been difficult to sell.

Ask A Real Estate Agent:
6. Who priced the property?
The estate agent may be quick to deny any involvement and in some cases may blame the homeowner for being greedy.

Ask A Real Estate Agent:
7. What other homes are there in competition to this property?
This is particularly useful information, so long as the real estate agent gives you an honest answer. Ask the estate agent to show you some of these competing properties.

These questions are simple and not hard to ask. However, failing to ask these types of questions can put a buyer (or seller) at the mercy of a disloyal, dishonest, or incompetent realtor. Buying or selling a home is a big investment for most people; so it is well worth the effort to select a real estate agent you can trust and have confidence in.

© Copyright Noel Peebles Market Leaders Ltd.

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