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10 Ways to Tell the Difference Between Good and Bad Real Estate Broker

difference between good and bad broker

Are you wondering how to choose the right real estate broker? There are ways to tell the difference between a good and bad real estate broker. No matter whether you are selling or buying a property, you can want a professional real estate broker who can make sure you win.

But not every real estate broker is a professional and not all can offer what you want. So, take a look at these 10 ways that you can tell the difference between a good and a bad real estate broker.

Signs Of A Good Real Estate Broker

what makes a good real estate broker

Properly Trained And Committed

A good real estate broker has proper training and has a certification to work. A real estate broker who is properly trained doesn’t just meet the minimum needs. A good broker goes beyond the requirements to prove their commitment and training to you. When you look for the right real estate broker, make sure to ask about his or her work-history and credentials. Their priority must be your property transactions (not just a side job or hobby for them).

Good Transactions Over The Past

A professional real estate broker who has good transactions in the past indicates that he or she is able to close the deal or make the sale successfully. Be sure to research through the broker’s records to see how many successful transactions they have had over the past years. Details can be the key factor as to whether you can be able to sell or buy a property in the way you want. These details include how long the broker sat on the market and pricing on the properties.

Good And Timely Communication

real estate brokers are quick responders to calls and texts

If your real estate broker is slow to communicate, then you might lose the perfect deal. During your first contacts with your real estate broker, be sure to assess how quickly he or she responds to calls, texts, and emails (particularly during normal work hours). Furthermore, it is a good idea to read reviews or ask other people about their communication with this real estate broker. You can more easily work with a broker who can communicate efficiently and quickly than with one who does not.

An Expert In Their Field

Other than guiding you through the process, your chosen real estate broker should be expert in their field, offering you tips and techniques for selling and buying. If you are a landlord and want to sell your property, then the broker should give you suggestions for staging directions and minor home improvements that can aid in attracting buyers. And if you are an investor who wants to buy a property, then the broker should give you strategies to aid in making an attractive offer.

Neighborhood And Current Market Knowledge

A good real estate broker can keep up with the current market trends. If you are an owner who is selling a property, you need a broker who knows the current market rates and knows how to market to buyers. A seasoned real estate broker can use technology (like virtual tours) to give the potential buyers insight into your property. And if you are an investor who wants to buy a property, then you need a good real estate broker who has valuable knowledge of the latest options for mortgages and financing.

Now let’s look at the 5 signs of a bad real estate broker.

Signs Of A Bad Real Estate Broker

bad communication and lack of leadership

Bad And Slow Communication

If your real estate broker has not contacted you in a couple of weeks, it may be time to find a new broker. Even if your broker has not found any new properties that meet your needs as a buyer, or even if nobody has called for showing your home, she or he needs to contact you regularly to keep you up to date with the processes.

Lack Of Leadership

It is not a good sign when your real estate broker agrees with you on every point. In that case, they are only eager to please. They are not committed to doing the best they can to represent your interests in the market. So, when it comes to pricing a property for sale, be sure that your broker gives the research that resulted in that price. A broker who asks for your opinion on how much you think your property is worth and then lists it for that price…consider what value they have offered (or if you simply were accurate in your valuation).

Unused Resources

A bad real estate broker will not necessarily use all the tools they can to market your property to potential buyers or help you buy one that meets your requirements. So make sure that your real estate broker takes good photos and writes descriptions of your property if it is for sale. Furthermore, they should list the property where it can draw the most interest (like listing it on real estate websites, local newspapers, or even distributing flyers in the area).

Too Much Pressure

Indeed, you should look for a real estate broker who has valuable knowledge and educated opinion and who can respectfully voice it. However, if you feel like your broker is pressing you in any particular choice, then it may be a sign of a bad real estate broker. Particularly when you are purchasing a residence, there is no actual reason a broker should want you to purchase any particular residence over another unless they are doing so in your best interest.

Lack Of Follow-Up

A lot of real estate brokers think their job ends when the transaction is complete, and the broker gets the money. A broker who contacts their client beyond the completion of the transaction to address any follow-up questions the client might have and to ensure that he or she is happy with their work is going above what is obligated and is showing a valuable commitment to client service. This level of care is a great way to tell whether or not they are a good real estate broker. This broker wants to do everything in their power to keep you satisfied and keep your business successful.

To Wrap It Up

The real estate broker you choose should be an expert, properly trained and committed. Further, he or she should have good transactions over the past and offer timely communication. Also, they should have valuable knowledge of the neighborhood and the current market trends.

This is where Westwood Net Lease Brokers step in. If you want to sell or buy a property, talk to us now at 314-997-5227 or [email protected]. We can offer a unique plan to find the best deal, and we can guide you through the process of selling or buying a property.

Did this article help you see how to tell the difference between bad and good real estate broker? Please feel free to share your thoughts in the comments below. And don’t forget to share this article with your colleagues on the social networks.

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