We have trained many real estate agents and have also had to fire a few agents for poor conduct. Honesty and loyalty are the qualities you want most. The type of honesty that is motivated by the concept that God is watching works well. The second type is based on whether the offense hurts another or gets caught.
One of our responsibilities as a Broker has been to look over all the financials of each transaction. For example, one of my agents generated a commission check. Upon review, we realized we had received more than what was due. The agent told us that everyone was happy and not to worry about it. We called the title company and, to my surprise, they gave us the same response. Next, we called the party that was short-changed, and they were happy to hear the news. After correcting the error, we fired the agent. This is one reason why every state ensures that all agents are overseen by a brokerage.
To save you time, here are some positive qualities to look for in an agent…
The best agents are humble and service-minded. They have the heart of a teacher and are patient with you. They look you in the eye and make you feel like all your questions and concerns are important and relevant. Their speech will be positive, and negative comments about others are always a bad sign. The agent’s car and apparel should not be too flashy. The initial meeting should be free of all paperwork and screens and more about building a relationship. They should be prepared to get their hands dirty if required and carry tools in the trunk of their car. Married men (10 years or more) often make good agents as their wives usually ensure they are working diligently. Female agents are great too, but ensure they allow you to be the boss. A non-smoker, non-drinker is ideal as you never know when the right buyer will call or make an offer. Always make sure you have the unconditional right to cancel the listing contract and fire your agent. The good news is that the right agent will ensure the job is done correctly and problems will be avoided as much as possible. Statistics show that agents can secure higher prices for homes than owners can, and some agents can get more than others.
Avoid the part-time agent…
Real estate representation is a full-time job. We never know when the right circumstances will occur, so timing and availability are essential. Ask them, “Is there any other way you earn income besides real estate?” Part-time is unacceptable, and all calls should be returned within 2 hours, Monday to Friday, 9-5.
The know-it-all agent…
They might appear friendly at first, but you soon realize that they are full of themselves and think they know better than you do. This agent fails to allow you to be in control. They may even make important decisions without your knowledge or approval. They are on a power trip and unwilling to incorporate the opinions of others to find the best solutions. Often, they will advertise with vague and impressive statistics such as “million-dollar agent” or some other large, impressive number. Watch out for the know-it-all agent.
The friend or family member…
When you do business with a friend or family member, both parties’ thoughts and actions are modified based on the past conditioning of the relationship. Usually, the agent you know will treat you differently than an agent you do not know. You may expect more from them, or they may expect less from you. Great relationships are often either strengthened or destroyed by business dealings. Quite often, it is safest to avoid them altogether.
The agent who lists it and brings the buyer…
This type of agent will list your home and then bring you an offer from their own buyer. They will then claim the full 6% commission for themselves. This can be a good thing, but only if your agent has given a minimum of 7 days of full marketing exposure. You can verify the marketing exposure by checking if your home is advertised on major websites such as Remax, Coldwell, Keller Williams, etc. Ask your agent to email you the links if you can’t find them. Be wary of selling your home too quickly. The best solution to this problem is to have your agent agree that they will only charge you a maximum of 3% if there is no other agent involved.
The agent who sells it in one day…
Chances are high that if you find the highest paying buyer in one day, there are a lot more interested buyers who do not know that it is for sale yet. It’s a lot of work for your agent to schedule more showings and juggle multiple offers. I bought my home the first day it was on the market. As a buyer, I was happy to hear that they had backup offers for $25,000 more.
The overly detailed agent…
This type of agent would be a great accountant. They scrutinize every detail and make sure every buyer knows all the details. Inevitably, the buyer is turned off when they hear about a feature that they did not ask about.
The agent who has personal issues…
We all have times in our lives when we are overwhelmed. Maybe it’s a breakup, a death in the family, or an IRS audit. Don’t do business with an agent who has a plethora of problems. Normally, the agent won’t tell you about their issues and will try to appear available. If you can’t talk to them on short notice or they run late to appointments, this might be a sign.
The mechanically challenged agent…
If you had a water leak, this person can’t find the shut-off valve.
More to this post coming soon. – Dan Novak
FUNNY VERSION OF THIS ARTICLE
Avoid, the part-time agent…
Real estate representation is like trying to catch a unicorn while juggling flaming torches. We never know when the perfect opportunity will come knocking. That’s why having a full-time agent is non-negotiable. You don’t want someone who’s too busy moonlighting as a professional cat juggler. And let’s not even mention the dreaded question: “Do you have any other source of income besides real estate?” (Gasp!) So, say no to part-time agents and yes to someone who can dedicate their undivided attention to your real estate needs. Oh, and by the way, all calls should be returned faster than a cheetah on roller skates, M-F 9-5.
The know-it-all agent…
Picture this: a real estate agent with a big ego and an even bigger knowledge bank. They think they’re the reincarnation of Albert Einstein and Steve Jobs combined. Beware! They won’t let you have a say in the matter. Oh no, they will make decisions for you faster than you can say “real estate nightmare.” These self-proclaimed geniuses may even flaunt their impressive statistics, like being a million-dollar agent. (Insert dramatic eye-roll here) Don’t fall for it! You deserve an agent who respects your input, values teamwork, and won’t go on a power trip. Keep an eye out for the know-it-all agent, and run… run like there’s no tomorrow!
The friend or family member…
They say never mix business and pleasure, right? Well, that applies to real estate dealings too. Doing business with friends or family can be a bit like dipping your favorite cookie in lemon juice—it may not end well. The dynamics of your relationship can alter the course of the transaction. Expectations may be heightened or lowered, and you might find yourself in uncharted territory. It’s often safer to avoid mixing friendship and business altogether. Trust me, it’ll save you from awkward family reunions or friend gatherings where you wish you could magically disappear.
The agent who lists it and brings the buyer…
Ah, the double-dipper agent. Picture this: you list your home, and lo and behold, the agent magically conjures up a buyer out of thin air. And what’s the catch? They claim the full 6% commission for themselves! It can feel like falling down a rabbit hole in Wonderland. But, hold on a second! Before you sign anything, make sure your agent has given your precious home at least 7 days of full-blown marketing exposure. Ask them to show you the proof, like checking if your home is advertised on major websites. Don’t be too hasty to sell your castle. After all, the best solution is for your agent to agree on a maximum of 3% commission if there are no other agents involved. That way, you won’t feel like the Cheshire Cat disappeared with all your hard-earned cash.
The agent who sells it in one day…
Imagine finding the highest paying buyer in the blink of an eye. It’s like spotting a majestic unicorn in your backyard. But here’s the thing, my friend. If the first buyer is willing to pay top dollar, chances are there are plenty of other eager buyers out there who haven’t even heard about your property yet. It’s like missing out on a unicorn stampede! Don’t settle for the first offer without exploring all your options. Remember, your agent will have to work like a juggler with plates to schedule more showings and handle multiple offers. So, be patient and let the magic unfold. Who knows, you might even end up with an offer $25,000 higher. Huzzah!
The overly detailed agent…
Imagine an agent who’s so meticulous, they can spot a speck of dust from a mile away. They scrutinize every tiny detail like a hawk on espresso. Unfortunately, buyers may feel overwhelmed when they hear about every nook and cranny that they didn’t even ask about. It’s like ordering a sandwich and getting a dissertation on each ingredient’s nutritional value. So, let’s find an agent who knows when to keep it short and sweet, shall we? Because sometimes, less is truly more… especially when it comes to listing descriptions.
The agent who has personal issues…
We all have our ups and downs in life, right? It’s like a rollercoaster ride that never ends. But hold the phone! Doing business with an agent who has more issues than a magazine subscription may not be the best idea. You don’t want someone who’s trapezing from one crisis to another. They might try to put on a brave face, but if they’re always unavailable or fashionably late to appointments, it’s like riding the emotional rollercoaster with them. Don’t say I didn’t warn you!
The mechanically challenged agent…
Imagine having a water leak and your agent is fumbling around like a blindfolded squirrel trying to find the shutoff valve. It’s like watching a comedy skit gone wrong. When it comes to real estate, you want an agent who knows their way around a toolbox, or at least knows how to operate basic household appliances. So, let’s avoid the mechanically challenged agents and find someone who can fix a leak without causing a flood and turning your home into a makeshift swimming pool. Safety first, my friend!
Prime Time Real Estate Inc. 