You are excited, the time has come to buy or sell your home. You’ve waited and waited for this moment to come and now – it’s here. You did your research – asked Google, friends, family – looking for a good real estate agent. And you found one. At least you thought you did. Hello, my name is Stephen Garner, I am a former title rep for a national title insurance company in Phoenix Arizona, I spent 10 years working with some of the best real estate agents around. The simple fact is this: just like pool guys, landscapers, title companies, loan officers, dry cleaners and other services, not all real estate agents are created the same.
Buying or selling a home is an emotional process. After 10 years in the title industry I can tell you that Murphy’s law is alive and well within the real estate industry. I wish every transaction would go smoothly but there are so many moving parts within a typical real estate transaction. Real estate agent, lender, appraiser, title company, home inspectors, termite inspectors, contractors, sub contractors etc. so my first question is this: are you sure the problem is with your real estate agent? If so then let’s look at some of the reasons consumers change real estate agents on the buyer and seller side of the table.
- Buyer/Seller: Lack of or insufficient communication
- Buyer/Seller: Poor expectations
- Buyer/Seller: lack of mutual goals
- Seller: no marketing or poor marketing support
- Seller: no or low activity
- Buyer/Seller: conflicting schedules
- Buyer/Seller: too pushy/salesy [cheesy, aggressive and/or superficial]
- Buyer/Seller: change of scenery
- Buyer/Seller: different point of view
- Buyer/Seller: no or low market knowledge
- Buyer: showing homes outside of your price range
- Buyer/Seller: not comfortable with your agent
The choice to switch real estate agents is yours. Only you know what is best for you and your family. If a real estate agent is representing you in buying a home, one thing to consider is whether or not you signed anything with your current real estate agent. Sometimes known as a buyer broker agreement or buyer agency agreement. There are a many varieties of buyer broker agreements used throughout the United States. They include:
- Buyer Broker Agreement (Non-Exclusive / Not for Compensation),
- Buyer Broker Agreement – Non-Exclusive, Right to Represent
- Buyer Broker Agreement – Exclusive Right to Represent
You can find more detail about buyer broker agreements by following the link. If you did not sign anything, then you are free to come and go as you please. You may want to discuss your feelings and decision with your real estate agent. Maybe the problem is outside of his/her control.
If you are selling your home and considering changing real estate agents you should check your listing agreement. A listing agreement is a legal document between a real estate broker and you – the seller. Written by attorneys they are meant to protect both parties. Some consumers believe listing agreements [contracts] can not be broken, the truth is, under certain scenarios, they can be. Consult your real estate agents boss – the broker – to evaluate your options.
If you are selling your home, you want your home SOLD – that is why you retained a real estate agent/broker. If your home is not getting sufficient activity [showings] you may want to discuss your agents marketing strategy. Assuming your home is not over priced or backs to a nuclear power plant, the problem could be there – the marketing. Some agents enter a listing in the multiple listing service and “set it and forget it” if you will. That is great if you plan on getting a buyer from another real estate agent but with 94% of consumers starting their home search online, there is a good chance your home will be discovered first by the buyer. This is why marketing is imperative. Real estate is one of the most competitive industries -Your agent better have a rock star marketing plan. That marketing plan should weigh heavily on the Internet. Can you find your home online without typing the address into Google? If not you may want to discuss your real estate agents marketing. Many consumers look for homes by asking Google for “homes for sale in X subdivision, homes for sale under $200,000 with pool in Phoenix, 4 bedroom – 2 bath homes for same near Intel” if you can’t find your home online, how is anyone else supposed to?
Changing real estate agents is not an easy decision but sometimes it is warranted. All real estate agents are not created the same. If you are looking for a rock star real estate agent to represent you in the buying or selling process, contact me. I know some amazing real estate agents that will happily go above and beyond to find you the home of your dreams or sell your current one. Want more information about how to choose a good real estate agent? Visit the link.
