Its not always easy to work in real estate. Home prices continue to rise throughout most of the country, interest rates are low and inventory is tight. Its a prime market for sellers and not so much for buyers. Theres a lot of anxiety and frustration for buyers and their agents, particularly with the prevalence of bidding wars.
Regardless of which end of the transaction you might be onbuyer or sellerworking with an agent whos knowledgeable and experienced is one of the best things you can do to navigate this complex market.
With that being said, as frustrated as you could be about certain things, there are likely things your agent wish you knew, or they could tell you as well.
Dont Contact Any Other Agents Once Youve Started Working With Someone
Once you start working with an agent to buy a home or sell yours, youre usually entering a contract with them. Its an exclusive buyer or seller representation agreement. Dont call the real estate agent on the sign if you see a house you like. Call your agent and tell them.
Your realtor is your representative for any purchase or sale.
Theyre meant to carry you through the legal and financial steps of buying or selling.
While youre obviously concerned with your needs, its good to think about things from the perspective of your agent too. If you go to another agent and end up writing a contract, lets say, then your agent doesnt receive any money for the time or effort they spent working with you. If you decide that you arent ready to buy or sell or something changes, let your agent know right away.
If Youre a Seller, Make It Easy to Sell Your Home
Even the best agent isnt going to have an easy time selling your home if youre not upholding your end of things. That means you try and keep your home as presentable as possible, including very clean, while its on the market. You should also try and work around your agent and the buyers schedules as much as possible.
Try to avoid being onsite during showings, and ensure your pets are put away and taken care of before a showing.
Your Expectations Might Be Unreasonable
If you were in a buyers market, you could get away with having higher standards, but in the current environment, youre very likely to have to lower your standards.
Things may gradually change over the next couple of years, but for the time being, your agent probably wishes they could directly tell you that its time to take some things off your wish list and be a little less picky.
If you want a home that needs zero work, youre going to pay a premium. Even fixer-uppers may not be extremely cheap right now.
Real Estate Agents Arent Experts in Everything
There are a lot of things your agent is going to be great at helping you with. They know the market, and they can help you with things like pricing and negotiations. You also have to realize there are limitations to their expertise. For example, your agent probably cant tell you if something is built to code or what it might cost you to take on a large-scale project.
They might have an idea, but its not what they specialize in.
Rather than thinking your agent will have every answer, you can expect that they can refer you to great experts in the areas where you need help.
Dont Say Youre a Motivated Buyer If You Arent
If you talk to any real estate agent, theyre going to have at least one and often many more stories about situations where theyve worked with buyers and then ultimately, they had no intention of making a purchase.
There are legitimate reasons you might take a long time to buy something or things can change, but if youre just killing time by looking at houses, its disrespectful to the agent whos taking their time to work with you.
Stop Lowballing Just Because
Finally, some buyers are deadest on not paying the listing price. No one wants to pay more than a house is worth, and thats normal, but you also have to understand the market and realize that sometimes you have to pay the market value of a home if you want it.