If you are thinking of selling your house, hunting for the right real estate agent to handle your real estate transactions should be considered a daunting task. Although there a lot of real estate agents in Nigeria, there are a few credible ones.
In a country where unemployment rates are alarming, it is quite easy to fall into the hands of fraudulent real estate agents who are quite skilled in the art of manipulating and swindling.
Although, spotting a shady real estate agent is definitely not a walk in the park, here are some signs that should make you wary of any real estate you choose:
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1. Agents who offer you an immediate high price for your property
If an agent immediately agrees with you on the price you are willing to give up your property whether it is ridiculously high or way below market price without conducting any market analysis, it should arouse suspicion.
Although it is not a bad idea when an agent asks for your opinion on the value of your home, it is still important he does his own homework. The agent has to compare the price you want it to be sold to what is obtainable in the market and the price of other properties similar to your own in that location. A good agent has to be realistic with you and let you know your property’s value.
2. Agents who are all talk and no action
Although there are real estate agents who are good at what they do and show a high level of professionalism but be wary of agents who talk smoothly and that easily wins you over with his/her charm.
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Be on the look-out for some other attributes like:
- If the agent pays attention to detail. Do they consistently follow through with potential sales leads and relay information back to you.
- How many sales has the agent managed to complete in the past few months? Compare the number gotten to a number of listings they have held, and whether or not these listings were in your area.
- Is the agent really a professional in the field or just a wannabe.
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3. Agents that avoid feedback
No matter how good you think your property is, in reality, no one has a perfect home/house. If you want to receive the best possible price for your house, you need to be open to suggestions from your agent.
When you work with an agent that doesn’t provide you with any suggestions for improvement, this could mean that they will be willing to sell your home at a lower price in any condition.
Although selling your home at a lower price may be acceptable, a good agent should be able to tell you, for instance, that if you make some adjustments and give your home a fresh coat of paint you could see a 3% higher rate of return on your sale. With a reputable estate agent, you should expect quality feedback about your property.
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4. Agents that don’t communicate
You must take factors like communication, experience, and ethics into consideration when working with a real estate agent. An honest agent with a good heart means an honest communicator, and you are sure he will be looking out for your best interests. A good agent would present to you the pros and cons of your options, unlike other agents that will only tell you what you want to hear.
5. Agents that don’t take pictures
Agents that don’t take photos of your property are a bad deal. There is no good excuse for not taking photos of your property. If your agent is only going to take 1 or worse 0 photos, it’s time to find a new agent. Good, quality pictures can help you sell your property faster.
6. Agents with no website
Real estate has developed in recent years and it has become more of a business based on technology, with buyers looking online for houses. With more of the real estate transactions taking place through different online platforms, you definitely want your agent to be operating in the 21st century.
If your agent doesn’t have a website it’s a sign that they are still practising real estate in the age of dinosaurs.
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