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5 Signs That It’s Time To Fire Your Realtor

5 Signs That It’s Time To Fire Your Realtor

If you’re one of the brave souls that’s ever attempted navigating through the treacherous waters of selling your home, then you’re not a stranger to the stressful nature of such a transaction. Sure, selling a home sounds quick and painless, especially if you’re using a realtor, right?

Not necessarily.

Thousands of homeowners that don’t understand the anatomy of a real estate transaction (or just want mass MLS exposure of their home), will hire a realtor, aka a “glorified real estate agent”.  They do this under the assumption that a realtor will make the transaction go smoother, simpler, and most importantly, faster. Unfortunately, many home owners have quite a different experience.

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Here are a few signals to look out for that could mean it’s time to find another realtor:

1. You House Simply Isn’t Selling

The idea that a real estate agent, through their hard effort and experience finds just the right buyer for your home is simply a real estate myth. You see, there are only 3 main factors that will actually cause your home to go from unsold to…sold. They are: Price, Condition, and Location. No one can change the location, so if a home is priced correctly according to its condition, then anyone can sell it…not just a realtor.

So, if you’re house isn’t selling as quickly as you were told by your realtor, then why should you blame them? Because once you hire a realtor to represent you, they owe you a fiduciary duty.

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You see, in acting as a fiduciary to you, they should properly research the market, and advise you to list the property at a price that will bring offers. If the realtor advises you on an incorrect list price that’s too high, in order to “get the listing”, then you won’t know until months later when your house remains unsold.

2. Promises Are Being Broken

It’s not uncommon for a newbie real estate agent that desperately needs a listing to over-promise and under-deliver, especially in regard to the amount of money that they say they can get you for your house. But newbie realtors and agents don’t always intentionally make promises that they can’t keep; sometimes they lack the experience in properly determining home values for their clients.

If a realtor tells you that they can sell your house for $150,000 in 60 days or less without providing proof of similar homes selling at that same price within that same time period, then red flags should go up right away. Agents that list “over-priced” homes using this technique have a pre-planned strategy to encourage you (after a few weeks have passed) to reduce the list price of your home. If you’ve found that your agent/realtor has over-priced your home, ask them to release you from the listing agreement immediately and either sell your house without a REALTOR or hire a new one.

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3. There’s Zero Marketing Being Done

Believe it or not, the only marketing that a realtor really has to do to generate an offer on a well-priced home, is to list it in the local Board Of Realtors Multiple Listing Service (the MLS).  Once listed, your home is instantly available to hundreds or even thousands of other realtors and their buyers to see. So it’s actually the MLS that’s a realtor’s best and usually only marketing tool to get your home sold quickly and for the most amount of money.

If your realtor doesn’t take the time to have professional photos taken of your home, and quickly get all the details accurately entered into the MLS and on the market by the agreed upon date, then you should be extremely concerned. Why? Because if your realtor can’t do the ONE marketing task that is actually going to bring offers, then you have to wonder what else their letting fall through the cracks during the remainder of the selling process.

4. Communication Is Seriously Lacking

You’ve heard it before, “communication is key”, and in a real estate transaction, it’s not just a cliche; thousands of dollars could be lost if communication is lacking between you and your realtor.

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You should be concerned early on, if you believe that you’re realtor isn’t informing you of:

  • the feedback received from buyers that have seen your home but have yet to make an offer
  • offers from qualified buyers in a timely manner
  • potential issues with the buyer’s loan processing/approval
  • statuses of reports, such as inspection reports or appraisals
  • the status of your counter-offers

Realtors need to be in constant communication with their clients throughout the entire listing agreement period. If yours isn’t, you might consider a different realtor.

5. Questions Aren’t Getting Answered Accurately Or Honestly

If you find early on, that your realtor can’t answer simple questions that directly relate to the industry that they work in, then you could be setting yourself up for failure. You absolutely must make sure that your realtor/real estate agent is competent enough in their field to be able to hold your hand and guide you properly through the complexities of selling a piece of real estate. Their not selling cars or mattresses; their selling your nest egg that you’ve treated like your firstborn.

With that in mind, if your realtor isn’t able to answer these questions accurately, they are highly unqualified to be your Fiduciary:

  • When exactly does the “Option Period” expire?
  • The buyer wants to negotiate repairs before the inspection. Should we?
  • How do you know that this buyer is qualified to purchase this home?
  • Do you know the track record of the selling agent that is representing the buyer?
  • What factors are preventing my home from selling, besides price?

Summary

Due to the complexities of a real estate transaction, unfortunately, most home owners lack the experience to “know what they don’t know”. If that’s you, then don’t let fear stop you from hiring a realtor to represent you, just be mindful of what we covered in this article, before, during, and after you decided to work with a real estate professional.

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James Vasquez

Real Estate Investor

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Last Updated on December 2, 2019

10 Powerful Ways to Stop Worrying and Start Living Today

10 Powerful Ways to Stop Worrying and Start Living Today

Plato knew that the body and mind are intimately linked. And in the late 1800s, the Mayo brothers, famous physicians, estimated that over half of all hospital beds are filled with people suffering from frustration, anxiety, worry and despair. Causes of worry are everywhere, in our relationships and our jobs, so it’s key we find ways to take charge of the stress.

In his classic book How to Stop Worrying and Start Living, Dale Carnegie offers tools to ditch excessive worrying that help you make a worry-free environment for your private and professional life.

These are the top 10 tips to grab worry by the horns and wrestle it to the ground:

1. Make Your Decision and Never Look Back

Have you ever made a decision in life only to second-guess it afterwards? Of course you have! It’s hard not to wonder whether you’ve done the right thing and whether there might still be time to take another path.

But keep this in mind: you’ve already made your decision, so act decisively on it and dismiss all your anxiety about it.

Don’t stop to hesitate, to reconsider, or to retrace your steps. Once you’ve chosen a course of action, stick to it and never waver.

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2. Live for Today, Package Things up in “Day-Tight Compartments”

You know that feeling: tossing, turning and worrying over something that happened or something that might, well into the wee hours. To avoid this pointless worrying, you need “day-tight compartments”. Much as a ship has different watertight compartments, your own “day-tight” ones are a way to limit your attention to the present day.

The rule is simple: whatever happened in the past or might happen in the future must not intrude upon today. Everything else has to wait its turn for tomorrow’s box or stay stuck in the past.

3. Embrace the Worst-Case Scenario and Strategize to Offset It

If you’re worried about something, ask yourself: “What’s the worst thing that could happen?” Could you lose your job? Be jailed? Get killed?

Whatever the “worst” might be, it’s probably not so world-ending. You could probably even bounce back from it!

If, for example, you lose your job, you could always find another. Once you accept the worst-case scenario and get thinking about contingency plans, you’ll feel calmer.

4. Put a Lid on Your Worrying

Sometimes we stress endlessly about negative experiences when just walking away from them would serve us far better.

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To make squashing that worry easier, try this strategy, straight from stock traders: it’s called the “stop-loss” order, where shares are bought at a certain price, and then their price development is observed. If things go badly and the share price hits a certain point, they are sold off immediately. This stops the loss from increasing further.

In the same manner, you can put a stop-loss order on things that cause you stress and grief.

5. Fake It ‘Til You Make It – Happiness, That Is

We can’t directly influence how we feel, but we can nudge ourselves to change through how we think and act.

If you’re feeling sad or low, slap a big grin on your face and whistle a chipper tune. You’ll find it impossible to be blue when acting cheerful. But you don’t necessarily need to act outwardly happy; you can simply think happier thoughts instead.

Marcus Aurelius summed it up aptly:

“Our life is what our thoughts make it.”

6. Give for the Joy of Giving

When we perform acts of kindness, we often do so with the expectation of gratitude. But harboring such expectations will probably leave you disappointed.

One person well aware of this fact was the lawyer Samuel Leibowitz. Over the course of his career, Leibowitz saved 78 people from going to the electric chair. Guess how many thanked him? None.

So stop expecting gratitude when you’re kind to someone. Instead, take joy from the act yourself.

7. Dump Envy – Enjoy Being Uniquely You

Your genes are completely unique. Even if someone had the same parents as you, the likelihood of someone identical to you being born is just one in 300,000 billion.

Despite this amazing fact, many of us long to be someone else, thinking the grass is greener on the other side of the fence. But living your life this way is pointless. Embrace your uniqueness and get comfortable with who you really are: How to Be True to Yourself and Live the Life You Want

8. Haters Will Hate — It Just Means You’re Doing It Right

When you’re criticized, it often means you’re accomplishing something noteworthy. In fact, let’s take it a step further and consider this: the more you’re criticized, the more influential and important a person you likely are.

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So the next time somebody talks you down, don’t let it get to you. Take it as a compliment!

9. Chill Out! Learn to Rest Before You Get Tired

Scientists agree that emotions are the most common cause of fatigue. And it works the other way around, too: fatigue produces more worries and negative emotions.

It should be clear, therefore, that you’ve got to relax regularly before you feel tired. Otherwise, worries and fatigue will accumulate on top of each other.

It’s impossible to worry when you are relaxed, and regular rest helps you maintain your ability to work effectively.

10. Get Organized and Enjoy Your Work

There are few greater sources of misery in life than having to work, day in, day out, in a job you despise. It would make sense then that you shouldn’t pick a job you hate, or even just dislike doing.

But say you already have a job. How can you make it more enjoyable and worry-free? One way is to stay organized: a desk full of unanswered mails and memos is sure to breed worries.

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Better yet, rethink about the job you’re doing: What to Do When You Hate Your Job but Want a Successful Career

More About Living a Fulfilling Life

Featured photo credit: Tyler Nix via unsplash.com

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