We have many real estate agents in Nigeria but few credible ones. Hunting for the right real estate agent to handle your real estate transactions especially when you are thinking of selling your house is always an uphill task.
One of the most daunting tasks when you are thinking about selling your house is finding the right real estate agent. In a country where unemployment rates is alarming, it is quite easy to fall into the hands of unscrupulous real estate agents who know less about the profession but quite knowledgeable in the act of swindling and manipulating.
Although, spotting a dodgy real estate agent is definitely not a walk in the park. Here are signs that should indicate that the agent you are dealing with has a hidden agenda.
1. Agents who Offer you an Immediate High Price for your Property
If an agent agrees with you on the price you are willing to give up your property regardless if the amount is ridiculously on the high side or it’s a give-away price without conducting any market analysis, it should arouse suspicion. Though its not a bad idea when an agent first asks for your opinion on the value of your home, it is still expedient he does his own home-work. The agent ought to compare the price you want it to be sold to what’s obtainable in the market and the price of other similar properties in that location. He has to be realistic with you and let you know your house’s worth even if its below your expectations.
2. Real Estate Agents Who are all Dazzle
Though there are real estate agents who are good at what they do and show high level of professionalism, it is sometimes a red herring when an agent talks smoothly and easily wins you over with his/her charm. Let other attributes serve as your yardstick of determining which agent you want to go into business with. Be on the look-out for the following factors:
• Does the agent pay attention to detail? Will they consistently follow through with potential sales leads and relay information back to you?
• Will the agent be available for open houses and buyer enquiries?
• How many sales has the agent managed to complete in the past few months? Compare this number to the amount of listings they have held, and whether or not these listings were in your area.
• Is the agent really a professional in the field or just a wannabe or a rookie.
3. Agents Who Avoid Feedback
No matter how good you think your property is, be aware that beauty only is in the eyes of the beholder; in reality no one has a perfect home/house. If you want to receive the best possible price for your house, you need to be open to suggestions and feedback from your agent. If the agent doesn’t provide you with any suggestions for improvement, this could mean that they will be willing to sell your home at a lower price in an ‘as is’ condition; more like a give-away price. They may also just prefer not to share bad news. Although selling your home at a lower price may be acceptable, an agent should tell you that if you make some adjustments and give your home a fresh coat of paint you could see a 3% higher rate of return on your sale. With a reputable estate agent, you should expect quality feedback about your property.
4. Agents Who Don’t Communicate
To get involved with the right kind of agent for your real estate transaction you must take factors like communication, experience, and ethics into consideration. A honest agent with a good heart means a honest communicator, and you are sure he will be looking out for your best interests. Such agent will lay everything bare for you and present to you the pros and cons of your options unlike other agents that will only tell you what you want to hear.
The aforementioned points should help you avoid tricky and cunning agents who are only after their own gains even if that gain is your loss.
Read also: The 6 Rangers Of Your Real Estate Journey