Working with a desperate real estate agent can be hazardous to your financial health. When conducting a real estate transaction you need the best information and advice possible to have the best possible outcome. An agent that is desperate for their paycheck can compromise your best interest, for their own. Let me say up front, that most of the land professionals that I deal with are good, honest people. There are some, as in any profession, that you need to be on the lookout for.
Before we get into the meat of the article, I want to make clear that I am saying that understandably there will be times when an agent (as in any profession) may need to close a deal to ensure their livelihood. The danger comes when you have a person that lives in a constant state of crisis. I am familiar with a family-run business that has had 2 or 3 different office managers that went from crises to crises and eventually ended up stealing money from their company.
The Realtor Code of Ethics addresses loyalty to a client in Article 1: “When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary…”
Agents have a primary, fiduciary duty to ensure that the client’s needs come before all others, except where prohibited by law. With that said, take a look at the list below to see if you are dealing with an agent with symptoms of desperation:
Possible danger signs from your agent:
- The agent talks about their needs above your needs. “I really need this deal to close.”
- You are encouraged to skip over the fine print. “Don’t worry about the details, we will hammer those out after we get a contract.”
- Everything for the deal has to be in a hurry. “We have to do this right now.”
- A general withholding of other relevant information about things you might find helpful. “I don’t know what has recently sold, but I know this is a good deal.”
- You are getting the “hard sell”. If someone has to keep trying to convince you that you are getting a good deal, then maybe you should take a step back. I hate being sold.
If you encounter one or two of the symptoms above, it may or may not indicate that you are in danger, but you should be alert to the possibility of it. There may be times when your agent needs to push along your timeline to help you take advantage of a good deal. But if you start getting a bad vibe about the whole deal, it is best to put the brakes on and assess what is really happening.
Any time you are dealing with people you have to be aware of human nature. Human nature lends itself to people looking out for their own interests. Make sure you find a quality agent that is looking out for your interests. A respected agent will get you the information you need to make the best possible decision in a timely manner. You will have a more positive outcome and are much more likely to be happier with the result of your deal.
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