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5 Signs That It’s Time To Fire Your Realtor

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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.

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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 January 13, 2022

10 Cheap And Amazing Honeymoon Ideas

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10 Cheap And Amazing Honeymoon Ideas

A honeymoon is important.  The wedding is over.  The months, or even years, of stress and planning are finally over.  It’s time for the two of you to relax, settle in, and start enjoying your time together as you embark on your first journey as a family.

To make the most of this time for the least amount of money, it’s important to focus on what you want out of a honeymoon.  This isn’t your typical list of touristy honeymoon locations everyone goes to.  Rather, it’s a list of cheap honeymoon experiences a couple can enjoy together, regardless of where it’s at.

1. Camping

A week long camping trip is a fantastic way to see how you mesh together as a couple.  You’re put in a low impact “survival” situation where it’s just the 2 of you and nature.  You have a chance to see how your new spouse handles themselves when left with the basics of life.  There are amazing national parks all over the United States where you can camp for a week for $20-30, disconnect from technology, and enjoy some of the natural wonders our nation has to offer.

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2. Staycation

You don’t have to go anywhere for a honeymoon.  In fact, the tradition of taking a honeymoon vacation is a relatively new one.  Prior to the 19th century, a honeymoon involved staying home together for a month to get to know each other physically.  Think of how blissful it could be to take a full month off work, disconnect from the outside world, and focus entirely on projects together.  You may not be wowing your friends and family with pictures of some exotic location, but they’ll be envious of your escape from the rat race nonetheless.

3. Island Getaway

People tend to overspend on their honeymoon vacations to Hawaii, Tahiti, etc.  Going to these places doesn’t have to be expensive.  You don’t need to stay in a 5 star resort when you’re on a Best Western budget.  You’re there to be in the atmosphere of the island, not a hotel room. Book a cheap flight and sleep in a hotel alternative, on the beach or in your car.  It’s the view in paradise that really matters.

4. Fancy Resort

Book an expensive resort, spa, or retreat in the city you live in.  While this may seem counterintuitive as a cheap destination, when you consider your savings on airfare and other travel costs, you can afford to be treated like royalty within your own city limits.  If you book a honeymoon package, you’ll end up with a lot of free amenities and extra attention.  There’s no need to fly halfway across the world to live the good life.

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5. Road Trip

The journey is often more fulfilling than the actual destination.  If you fly out to some exotic locale, you’ll be stuck on a plane for 8-30 hours.  Rent a luxury car, pick a handful of places you each have always wanted to visit, and go on an adventure.  You can keep food costs down by packing your own snacks, but it’s always a good idea to sample the local delicacies wherever you go, even if it’s only a few states over.

6. Charter a Boat

If the ocean is your thing, a week-long cruise can cost you $1500-$3000 per person, depending on the destination.  You also have to factor in travel costs to and from the cruise, alcohol, souvenirs, and on-shore excursions.  You’ll also be surrounded by people.  For the same price (and often much cheaper), you can charter your own boat and enjoy the experience in private.

7. Las Vegas/Atlantic City

If gambling is your thing, these are the places to do it.  Which one you choose depends on your preference, budget, and proximity.  The way to make this vacation cheaper is to gamble smart.  Stay away from low odd tables (i.e craps, roulette) and read up on the MIT blackjack strategies to beat the house.  If you do it right, you can win enough for a free trip (and gain a valuable team skill in the process).

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8. Themed Retreats

There are weeklong retreats all over the world where you can fully immerse yourselves as a couple into a hobby you’re both passionate about.  Go on a yoga/meditation retreat, a ranch, a vineyard/farm, a backpacking adventure, treasure hunt, or whatever you’re into.

9. Working Honeymoon

Your honeymoon doesn’t have to be a vacation.  For a truly memorable experience, dedicate a week to a charity or volunteer organization.  You can drive out to a campground to help restore it in the offseason.  Maybe you’ve always wanted to volunteer to help out your local animal shelter, plant trees, help the homeless, etc.  Use the time to do something together as a couple that will fulfill you spiritually while contributing to the community.  Just because you’re on a honeymoon doesn’t mean you can’t be productive.

10. Festivals, Fairs & Special Events

Every city, state, and country has festivals, fairs, and special events.  Find one you’re interested in.  If you time your wedding right, your honeymoon can be a trip to one of these festivals.  Burning Man, SXSW, Bonnaroo, the Renaissance Fair, regional harvest festivals, Mardi Gras, New Years Eve in Times Square, a movie premiere, or whatever you’re into.  If you plan your honeymoon at the right time in the right place, the possibilities are endless.

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Featured photo credit: Josue Michel via unsplash.com

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