Real Estate Red Flags: Is your agency a red flag?

We all know the Real Estate industry is highly saturated, although we believe there is space for everyone… IF you keep an eye on exactly how you are presently and selling yourself.

We have spoken to our fair share of estate agents and brokers since launching in 2006 and we know that selling or looking to purchase a property is one of the most important decisions you can ever make, which in turn makes choosing the right estate agency even more daunting!

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Real Estate Red Flags: Is your agency a red flag?

We all know the Real Estate industry is highly saturated, although we believe there is space for everyone… IF you keep an eye on exactly how you are presently and selling yourself.

We have spoken to our fair share of estate agents and brokers since launching in 2006 and we know that selling or looking to purchase a property is one of the most important decisions you can ever make, which in turn makes choosing the right estate agency even more daunting!

This is why we have comprised a list of our Top 8 major Red Flags to keep an eye out for!

#1 – Lack of Industry Knowledge

No matter if you are selling or buying, If your agency doesn’t take the time to research the local market this can lead to your property being wrongly valued or over/under priced.

Just because an agency claims to have years of experience does not mean that the agent you are dealing with does…

Ask questions and do your research!

Common Questions to ask:

  • How are you looking to market my property?
  • What is the average property price in my street?
  • How long do you expect my property to be on the market for?
  • Have you recently sold any similar properties in the area?

#2 – No Online Presence

This is a major one! Ask yourself this…

If an estate agency can’t market itself online how are they going to market your property…?

We understand that there are both online and offline marketing factors and that both contribute towards the sale of your property BUT you need to find the right mix.

A digital presence sets the tone of the business and service you should expect to receive, which is why ensuring that your agency is able to successfully market your property is key!

Key Factors to look out for:

  • An Easy to Use Attractive Website
  • Consistent Social Media Presence
  • Positive PR Articles

#3 – Consistent Negative Reviews…

First impressions matter! Take a deep dive into your prospective agency’s Google, Facebook and Website reviews, and see if you can see any trends or consistent topics. Another approach is to ask around friends and family, referrals and first-hand experiences are key!

It’s all about finding the best agency for YOU!

#4 – No Willingness (Our Major Pet Peeve)

When speaking with a prospective agency you should know within the first few conversations you have with them whether they are right for you.

An agency should want to go above and beyond for you when it comes to your property sale or purchase, from offering help in regard to mortgages and your finances to local furniture shops and area insights.

If a company is unable to provide you with this it is not a major make or break but it can set the tone for the type of service they are willing to provide…

Areas your agency should be able to help with:

  • Mortgage and finance advice
  • Tips to maximise your property valuation
  • Local knowledge and recommendations
  • Potential market opportunities

#5 – No Personalised Service

Your property sale or purchase is one of the most important decisions you will make, so the service you receive during this should be second to none!

Your agent needs to know you and your needs inside and out to be able to provide you with the most efficient service possible. Not only will this help them in the long run, in terms of referrals and repeat business, but this will make you feel a lot more comfortable and at ease throughout the entire process.

#6 Poor Follow-up/Communication

A major red flag in any walk of life… Although when dealing with an agent this is potentially the biggest yet!

Lack of communication is a huge red flag, if you are not contacted within 24 hours of making your initial enquiry I would recommend taking your business elsewhere. An agent should be eager to reach out and speak with you regarding listings/selling your property and vise versa when someone is potentially inquiring regarding your property!

Green Flags:

  • Open lines of communication
  • Accessible via multiple channels
  • Timescales of expected reply times

#7 Old School/Stuck in the past

No social presence, 20-year-old branding and still solely relying on their shop window to make the sales…

We are not overlooking the importance of your shop window although times have changed and the ways in which consumers are looking to sell/purchase a property are completely different from how it was just even 5 years ago.

Your agency needs to be on the ball and adaptive to change!

#8 Pushy Next Steps & Excessive Pressure

The last thing you need when purchasing or selling a property is added pressure… When it comes to the next steps you should feel comfortable and confident enough to take them in your own time and not have the added pressure of an agent looking to get a deal over the line.

Think about it… Would you work with a company if their website functionality was poor? If they had terrible communication or if their follow-up is slow? I should hope the answer will be no.

If you have just had a slight bit of self-realisation and have come to the conclusion you may be a red flag… Reach out to us today we can provide you with all of the guidance you need to overcome this!

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