Are you having trouble working with your realtor when you need to buy a new home quickly? What are the warning signs of a bad real estate agent? A typical red flag might be a lack of communication, multiple missed phone calls, and a lack of disclosures.
If you want to ensure you hire a good real estate agent in the future and want to find out how to get out of your realtor agreement, read on. Here, you will learn the tell-tale signs of a bad real estate agent as well as the signs of a great real estate agent. Now, let’s get started!
What You Need To Know About Real Estate Agents
Real estate agents undergo training and a state-mandated certification process before getting licensed to help home buyers complete a real estate transaction. As such, you don’t want to waste your time with a realtor who has poor communication skills or lacks the negotiation skills needed for a successful home purchase.
Before a realtor gains a real estate license, they must learn essential marketing and negotiation skills. Real estate agents are responsible for helping home sellers list their homes for sale and market the property to attract buyers. These are known as listing agents. In addition, realtors help home buyers find the perfect place to purchase and call home.
Realtors are responsible for marketing the home they are helping sell. That means the seller’s agent will likely hire a professional photographer to take photos of your home and use those photos in an online listing on Zillow along with brochures or newsletters.
The right marketing plan can help home sellers and buyers complete the transaction in a fast time frame at a fair sale price. A good realtor will also help homeowners pick the right asking price for the property.
Top real estate agents can help you find a suitable lender or mortgage company since they know the local housing market and the best lenders. Every real estate agent also works for a brokerage firm, so you won’t find one who works independently.
10 Signs of a Good Real Estate Agent
Generally, you should be able to find a good real estate agent, as their job relies on word-of-mouth referrals and commission fees. However, not all realtors are as knowledgeable or skillful at their job as other agents. In these cases, you should pay attention to the following signs of a good real estate agent.
- Their property listings have outstanding photographs and content
- The listing agent suggests helpful home improvement projects to boost your home’s value
- The buyer’s agent responds to emails and phone calls within 24 hours or less
- The realtor has the right energy and good people skills when you meet them for the first time
- Your new real estate agent knows the neighborhoods you’re interested in better than the locals
- The realtor has tons of great reviews and positive statistics across multiple online platforms
- The real estate agent has a scrappy personality and is very resourceful
- The realtor has a vast network of local connections to photographers, real estate attorneys, home inspectors, and more.
- Your real estate agent has many years of experience working in the real estate market.
- The realtor has strong social media marketing skills with excellent attention to detail when selling homes online.
If you can find a realtor with most of the positive attributes outlined above, you should have no problem selling your place or purchasing a new home.
10 Signs of a Bad Real Estate Agent
If the realtor you recently met does not have many of the qualities of a good real estate agent, take a look at the top 10 signs of a bad real estate agent below.
- The realtor lacks good communication skills, does not inform you of new listings, and forgets to reply to your emails or phone calls.
- The real estate agent took on too many clients and got stretched too thin, which means you won’t get the attention you need for a home sale or purchase.
- The realtor does not have enough knowledge about new technologies and innovations in the housing market.
- The listing agent does not have a network of other real estate professionals despite years on the job.
- The realtor is brand new on the job and lacks experience, such as one with fewer than two years of experience working in the real estate market.
- The real estate agent lacks leadership skills and does not guide you in making the best decision for a home sale or a purchase.
- The listing agent or buyer’s agent is either too pushy or not pushy enough.
- Some realtors do not follow basic rules of ethics during a home sale transaction.
- A real estate agent who acts unprofessionally, such as showing up late to showings or dressing very casually.
- The realtor lacks confidence and does not have effective negotiation skills when helping you purchase a new home.
If your realtor has several of the qualities above, you may want to consider getting out of the real estate agent agreement. We detail how to do so below.
Can You Get Out of a Real Estate Agent Agreement
Before we delve into getting out of your real estate agreement, the first step is to outline the definition of a listing agreement.
A listing agreement is essentially a contract between a home seller and a brokerage firm. The realtors work for the brokerage firm, and the broker, realtor, and home seller all sign the contract. That allows the real estate agent to market and sell the home while gaining a commission fee once the home sale is complete.
The contract usually has terms like the asking price of the home you both agree on, the marketing methods and channels that you permit, the broker’s commission fee, and the expiration date of the contract.
The listing agreement or contract usually outlines a protection clause to keep the realtor’s commission if the home sale occurs during a small window of time after the contract expires. Most importantly, the listing contract includes the duties required of the real estate agent.
Essentially, if your realtor breaks any parts of the contract, you should have a chance to get out of the listing agreement. If your realtor does not follow all of the duties outlined in the contract, does not use the marketing channels you allowed, or even uses the wrong asking price, you can likely get out of the contract.
How To Stop Working With Your Real Estate Agent
If you want to stop working with your real estate agent, you will need to terminate the contract. However, before you do so, you may want to try working things out with the realtor and see if they can improve their professional behavior.
If that doesn’t work and the realtor does not let you out of the contract, you will need to speak with the broker next. The brokerage firm may allow you to use a different real estate agent working for the company or let you terminate the contract.
You may want to ask an attorney before breaking the contract yourself. Usually, the agreement may include a termination fee covering the realtor’s advertising expenses. Look through the listing agreement carefully before breaking it to ensure you won’t have too much trouble doing so.
Once you have decided to stop working with a real estate agent, you may want to consider selling your place as a For Sale By Owner (FSBO).
Is it hard to sell a house without a realtor? You won’t find it an easy process, but it might end up being easier than working with a terrible real estate agent.
If you are selling your house without a realtor, you may want to contact a cash home buyer, a house flipper, or a real estate investor. That way, you won’t need to spend nearly as much time marketing the home, listing it online, or dealing with the delays of a home inspection.
You will want to watch out for the typical signs of a bad real estate agent before you accidentally hire one. The guide above should have provided all the information you need to see the warning signs.
If you prefer to avoid working with a real estate agent, you should contact a real estate investor or a cash home buyer. Doing so means you won’t need to cover the commission fees of a realtor or broker. In addition, you can even avoid renovating or repairing your home, as cash buyers often purchase homes in their as-is conditions.
If you want to sell a house fast in Texas, you will find that cash buyers can complete the transaction in only a few weeks, as they do not require a lengthy mortgage loan approval. Cash home buyers in Arlington and other Texas cities can buy your property quickly as-is.
We buy houses Houston residents adore, so call us today!