7 Questions To Test The Loyalty Of A Real Estate Agent

Buying or selling a home can be especially difficult when dealing with
an incompetent or disloyal real estate agent. Now, don’t get me wrong, I’m not out to knock realtors.

I’m the first to admit that many agents are excellent and worth their
weight in gold. However, most real estate agents fall into one of
three categories: good, average or poor.

Then, there is that worrying small percentage of agents who are
downright incompetent. Every industry is inflicted with this type of
person and I suspect the real estate industry has more than its fair
share of incompetent agents.

The truth is; a good and a bad agent have one thing in common –
their job is to be a “deal-maker.” But, be warned - some real estate
agents will perform all sorts of tricks to stitch up a deal. This is fine
so long as they are not “stitching up” the buyer or the seller. There’s
nothing wrong with enthusiasm to pull a deal together - it is to be
applauded. However, a good agent needs to remain professional
and ethical at all times throughout the selling process.

Unfortunately, most homeowner’s are reasonably inexperienced
when it comes to buying or selling a property. They rely greatly on
the “perceived” ability of the agent they are dealing with. In reality,
most homeowner’s are “fair game” for a disloyal, dishonest, or
incompetent agent!

In any negotiation, WIN – WIN deals are the best. But, sometimes
when buying or selling a house, things happen to benefit just one party… the buyer, the seller or possibly just the real estate agent. Therein lies
the danger. Who is the real estate agent really working for? Where do
his or her true loyalties lie? With the seller, the buyer or themselves?

These 7 questions will help you decide who the agent is really working
for. Visit any open home and test these questions out on an agent.
Good or bad, the answers will reveal something about that agent and
his or her ability and true loyalties. If the real estate agent betrays the seller, they will betray you as well. If they defend the seller, it’s likely
they will defend you too. Ask the real estate agent these 7 questions:

1. How much will the seller take?
You may learn the bottom price that the seller will accept.

2. How much do you think the home will sell for?
You may discover that the agent has an opinion less than the asking price.

3. When does the seller need to move out?
The agent may reveal an urgent deadline. This could be an advantage in
negotiating a lower price.

4. Why is the homeowner selling?
The agents may reveal a confidential reason for selling.

5. How long has the property been on the market?
The agent may reveal if, or why, the property has been difficult to sell.

6. Who priced the property?
The agent may be quick to deny any involvement and in some cases
may blame the seller for being greedy.

7. What other homes are there in competition to this property?
This is particularly useful information, so long as the agent gives you
an honest answer. Ask the agent to show you some of these competing
properties.

These questions are simple and not hard to ask. However, failing to
ask these types of questions can put a buyer (or seller) at the mercy
of a disloyal, dishonest, or incompetent agent. Buying or selling a
home is a big investment for most people; so it is well worth the effort
to select an agent you can trust and have confidence in.