Real Estate Agent Red Flags To Look Out For - Home & Texture
Homeownership Real Estate Agent Red Flags

5 Signs Your Real Estate Agent Is Costing You Money

And what you can do about it.

By
April 9, 2024 at 7:25 PM PST
Updated on April 9, 2024 at 7:25 PM PST
Homeownership Real Estate Agent Red Flags

5 Signs Your Real Estate Agent Is Costing You Money

And what you can do about it.

By
April 9, 2024 at 7:25 PM PST
Updated on April 9, 2024 at 7:25 PM PST

Having a trustworthy real estate agent can be an invaluable asset when buying or selling your property. Not only can they help you navigate the complexities of the process, but they can also guarantee that you and your interests are protected every step of the way.

But while hiring a pro can greatly help, not all agents have your best interest in mind. In fact, according to SquareFootHomes Operations Director Demetrios Sourmaidis, some real estate agents can actually cost you more money in the long run.

To help others avoid overpaying, Sourmaidis highlights the red flags to look out for in a professional real estate agent, from subtle signs to overt behaviors.

For a better chance at securing an agent who prioritizes your needs, here are five signs that your real estate agent is costing you money.

A frustrated man talking on the phone
Photo credit: Theo Decker 

Their communication is lacking.

Because your real estate agent is the middleman between you and the seller, it is of utmost importance that they have proper communication skills.

Real estate agents are responsible for facilitating negotiations, reviewing contracts, and providing information regarding properties, neighborhoods, market trends, pricing, and legal requirements.

So if your real estate agent isn’t up to par in the communication department, consider it a major red flag. To be sure, here are five signs that communication isn’t their strong suit:

  1. You receive little to no response from them and have to follow up multiple times.
  2. They appear disinterested or dismissive when you share your thoughts about a potential property.
  3. They gloss over important details in contracts, forms, or legal documents.
  4. They barely, if ever, provide you with updates.
  5. They aren’t helpful at explaining complex concepts or industry jargon.

When looking for a real estate professional, place effective communication at the forefront of your priorities. Be sure that they’re available, listen to your needs, and respond promptly.

They lack integrity.

The most important trait of a qualified agent is integrity. Without it, you can easily be matched with a property that doesn’t meet your expectations, or worse, end up in legal trouble.

While there are agents who prioritize their commission over the well-being of their clients, some might not. When working with an agent, Sourmaidis advises potential buyers to trust their gut. “If something feels off about your agent’s approach, it’s time to look elsewhere.”

A real estate agent sharing information from her laptop
Photo credit: energepic.com 

They don’t know the local market.

The real estate market is often too complex and complicated for the average person to navigate effectively, which is why hiring a professional can help.

But if you notice your real estate agent is often just as confused as you are, chances are, they aren’t the right fit for you.

Working with a professional who isn’t educated on the local market can cost you. They can misprice a property, provide inaccurate information about a neighborhood, or even fail to recognize a good deal when it’s right in front of them.

So when scouting for a potential agent, be sure to do plenty of research. A real professional should have a deep understanding of the area they work in, plus a track record for accurately pricing homes.

They don’t have reviews.

While common, failing to do research on a real estate agent can seriously cost homeowners in the long run. If you proceed with an agent without knowing their background, you could be signing up for misaligned expectations, added expenses, fewer options, and a lot of time wasted.

To avoid this, take a look at the reviews and referrals of the real estate agent in question. If you need more assurance, don’t hesitate to request a meeting with the agent so that you can ask questions.

Two friendly professional men shaking hands
Photo credit: Kindel Media 

You just don’t ‘click.’

While your relationship with a real estate agent is strictly professional, compatibility is important in order to avoid frustration.

According to Sourmaidis, “Looking for an agent you click with personally will make the process smoother and more enjoyable for both parties. Without trust, an agent may not fully advocate for the buyer’s financial interests, leading to less favorable deals.”

So when consulting with a potential agent, pay attention to how they make you feel and if they seem like someone you can easily work with.



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