3 Stupidest Mistakes Made by Real Estate Buyers/Sellers
Buying or selling a home isn’t something most people do on a regular basis. If you think about it, that’s the whole reason real estate agents have a job. The general population needs assistance with finding the right property, filling out the paperwork, following contract requirements, and obtaining a loan.
Most of the time, things run pretty smooth with the transaction. However, every now and then there are massive problems and complications. Below are the 3 stupidest mistakes a home buyer/seller can make.
1. Ignore Realtors Counsel
Buying a home isn’t the same as walking into your neighborhood Walmart for a gallon of milk. There are strict regulations that dictate every aspect of the transaction. Your real estate agent is there to hold your hand and guide you through the complicated process. I’ve seen countless examples of home sellers thinking they knew more than the agent. Many times, this has gotten them in some serious hot water that ended with a lawsuit.
Smart people know what they know and know what they don’t know. When there’s an important decision to be made about a confusing topic, they heed the advice of an expert.
2. Not Doing Diligence When Selecting a Real Estate Agent
I’m not sure if you’ve ever looked in your local MLS, but there are a lot of real estate agents. With the kind of numbers we’re seeing, there are bound to be a few bad apples.
How you buy or sell a property is one of the most important decisions you’ll ever make. For 99.9% of the population, this will be the largest transaction of their life. Getting it done in the most efficient and profitable way will affect your finances for decades to come. With these kinds of things at stake, its critical to work with the best possible advisor.
We strongly recommend vetting any candidates you’re thinking about hiring as a real estate agent. Look on their social media profiles, and see what others have to say. Don’t be afraid to ask for personal references to fact check the individual. More than anything, don’t just trust your gut. Most real estate agents have a lot of sales experience and are good at gaining trust.
3. Only Using Price as a Metric for Choosing a Real Estate Agency
As we all know, cheaper doesn’t necessarily mean better. This couldn’t be truer when it comes to selecting a real estate agent. Seeing how this is one of the most important decisions of your life, it’s wise to work with the best. You might save 5K with one agent, but lose 30K by making some wrong moves.
Selling a home shouldn’t be a horrible, pressure-filled experience. If you do your homework when looking for a potential agency, listen to wise counsel, and make your final selection based on the right criteria, you should be in the clear.
My guest writer today is Jonathan Wickham, who is a licensed Utah County real estate agent. He started W ² Realtors with his sister Michelle in 2018. If you’re ever looking for a Utah County property, be sure to visit his website. Jonathan is a member of the BuildMyAgent real estate marketing network.