Real estate agents are absolute professionals. We are held to a higher standard of business ethics and care. Which means that we owe our clients fiduciary duty to put their best interest ahead of our own.
What is actually considered best interest of your client? Here are 3 common mistakes real estate agents make when working with their clients.
Number one: overpricing the property. Some of the real estate agent will overprice the property to please their clients. They might want to get the listing and will put a higher value on the property in order to get their client’s business. Or maybe they have a long relationship with the client and don’t want to upset them. Whatever the case might be, overpricing your clients property is a disservice. Property will most likely sit on the market for a long time. Sooner of later price reduction will follow.
Number two: over promising and under delivering. This is a common trend in many service driven business. To get clients’ business some agent will promise a lot. Things like: “will sell in 30 days” or “it will sell for “this” price I guarantee it”. Empty promises are just setting agents for failure and clients for disappointment. It’s very hard to predict where the market is going and how buyers will react to the property you’re selling. Educated estimates based on current market conditions and agents personal experience is what clients are really looking for.
Number three: cutting corners with MLS listing. Multiple Listings Service is one of the best if not the best sources of finding buyers for your property. MLS listing for the property should clearly outline it’s benefits in the description. Great pictures of property’s best features is a must. The pictures don’t have to be professionally take but should showcase the property well. Room measurements and property information are very important as well. Cutting corners with MLS listing ads could cost clients some valuable buyers.
Real estate professionals are great, honest and trustworthy people. Chances are you will be working with a true professional who will not make any of the silly mistakes listed about. Nevertheless, keep your eyes open for the mistakes outlined above and happy selling.
Please, call or email me with any questions. Oleg 604-565-7052 or [email protected]