Why You Should Be Cautious of Realtors

0409_real-estate-agent_390x220Why Buyers and Sellers Should be Wary of Realtors

One of the most crucial assets in any profession is honesty, and that goes for the real estate industry. Everything is on the internet these days, and there is an argument that realtors are becoming unnecessary as you can get most information online. You can even access the MLS online if you tried hard enough. The reason that people still hire agents has a lot to do with trust; trust that they know more than you, trust that they are on your side and want the best for you. Unfortunately, the real estate doesn’t have the best rep in that department. Not to mention the fact that it is not that difficult to become a real estate agent.

Real estate agents often misrepresent their experience and credentials on their websites and / or blogs. Some spend inordinate amounts of time posting online to obtain maximum search engine exposure. The bottom line is if your agent isn’t presenting a truthful picture of herself or himself online, what else is your agent likely to lie to you about? Here are misrepresentations to look for on a real estate agent’s website and/or blog.

  • Real Estate Experience: If you can’t easily spot a reference to the number of years the agent has been licensed to sell real estate, it’s because the agent has little to no experience. The agent may toss other numbers at you such as how long they have lived in the state or the number of years the agent was employed somewhere else. But only one thing counts, and that’s solid real estate experience. Realtor Experience is important because it means an agent should be able to anticipate problems and prevent them from manifesting. It also means you’re relatively assured that over the years your agent has learned how to handle just about any type of potential difficulty without running elsewhere for advice.
  • Real Estate Listings: Most agent websites feature that agent’s active listings. You should check for a link to “my listings,” to determine whether that agent even has any listings. Only a select few, such as exclusive buyer broker agents, refuse to take listings. Listings are the backbone of experienced real estate agents. If you can’t find a link, it’s because the agent has no listings.
  • Real Estate Specialty: Agents generally advertise their specialty, whether it’s a neighborhood, type of property or specific types of buyers they may represent. For example, an agent might claim to be a specialist at selling homes in a trendy neighborhood but haven’t to date. Or agents may try to market themselves as an exclusive home specialist by showcasing only high-end homes on their website, yet they have never sold a home in that price range. Still, other agents may advertise that they are FHA specialists but have yet to close an FHA transaction.

Here is a great article to read on Ways a Realtor Can Lose Their License. This will be helpful to you, so that if you are wary of something your realtor has told you or something they are doing that irks you, you’ll be armed with legal facts. Another thing that may help you stay informed on legal facts regarding real estate is this video about Why a Brokerage Can Have Their Real Estate License Revoked.