Don't Fall Victim to These 3 Mistakes
If you've been paying any attention to the real estate market in DFW, then you know there are Realtors EVERYWHERE! It's no secret that the DFW market has been booming for the last 6-8 years, and that's led to a gross over-saturation of Realtors in our industry.
Here's a fact that you probably didn't know: nearly 80% of active realtors in Dallas have obtained their licences within the last 5 years. Let that sink in for a moment... Now, I'm NOT saying there's anything wrong with an agent who has less than 5 years of experience, because quality of time is worth MUCH MORE than quantity of time.
A real estate transaction is one of the most serious financial decisions you'll ever make in your life.
You absolutely CANNOT afford to partner with the wrong real estate agent.
Below are 3 costly yet common mistakes people make when choosing a Realtor along ways you can avoid them:
- Picking an agent based on popularity- More often than not, agent popularity and fame are due to very well crafted marketing efforts rather than actual performance on the job. "Well known" does not mean that a person is actually delivering value especially in booming market like DFW has had where anyone with a license could and have done very well. Ask your potential agent difficult and stringent questions to see if YOUR test is passed. If not, then choose another agent.
- Blindly trusting friends and family- A strong friendship or family relationship is a priceless asset. People generally like to do business with those whom they already know and trust. That's where the value of a relationship is most seen. Everyone has a friend or family member who's "in real estate." If the agent is truly a great one who happens to have a personal relationship with you, then by all means, utilize that resource. However, if you're only doing business with that person because you know them, then you're making a terrible mistake AND jeopardizing the business AND personal relationship. MANY friendships and family dinners have been ruined due to intertwining business and personal relationships. Don't let this be you.
- Focusing on cost instead of actual value- Thriftiness is an invaluable skill. There's no consumer who doesn't feel a little proud after receiving a "good deal" and/or saving some money. This practice is great with commodities, but not with service professionals. Choosing a real estate professional based on "flat fee", "zero commission", "reduced commission", "low cost" services, etc. is the perfect recipe to receive low quality service, lose serious money, and increase your stress levels much higher than they otherwise would be. Saving $.50 on the front end is no good if it costs you $5 dollars on the back end. Here's an industry FACT: the best agents in the business extremely rarely discount their services or offer any type of "low cost"/ "reduced fee" options. They understand that the value they provide their clients is worth far more than their fees, and their clients also understand this. Be EXTREMELY weary of any agent who's quick to reduce fees and/or offer a discounted service. This is a volume approach, and volume often comes at the cost of quality. Do you really want to roll the dice with one of your most valued financial assets just to "get a good deal"??
There are numerous other ways that consumers cost themselves tons of time, frustration, and money by choosing the wrong agent, but avoiding the 3 mistakes listed above will put you well on the pathway to choosing an agent who will take care of your needs AND ensure that you actually enjoy your next real estate transaction.
Remember, if you ever have questions about anything real estate related, or if you'd like to pick my brain, then feel free to call or send a message. I'm not afraid to give you my unfiltered point of view and help you make the right decisions for you and your family.