If your real estate agent does these things, run the other way

Image source: Getty Images

If you want to buy a home, there is little to lose by working with a real estate agent. While sellers typically pay realtors a commission to orchestrate sales, buyers typically pay no fees to work with an agent. It is possible to search for listings yourself, but sometimes real estate agents find out about new listings sooner. In today’s real estate market, with such limited inventory, this could be a big plus.

But if you want to work with a real estate agent to find accommodation, choosing the right professional is important. And if your agent is doing any of these things, it’s time to go.

1. Shows you homes that don’t meet your basic requirements

With housing stock so low these days, it can be difficult to find a home that offers all of the items on your wishlist. But if your real estate agent takes you to see homes that don’t even meet your basic needs, that person is doing a poor job of listening. And you deserve better.

Suppose you have several children, so you need a minimum of four bedrooms in any house you buy. If your real estate agent continues to show you three bedroom homes, this could be a deciding factor. Likewise, if you want to live on a quiet street, your agent shouldn’t take you to view houses on a main road. If so, you should probably be working with someone else.

2. Completely ignore your budget

Accepting a mortgage payment that is too high could mean financial hardship or even the loss of your home. So if your real estate agent continues to suggest homes that are well above your price range, it’s time to end that relationship.

Not only could buying an overpriced home ruin your budget, you might not even qualify for the mortgage you need to finance it. Any real estate agent who doesn’t realize or care about these things is someone you shouldn’t be working with.

3. Ignore your concerns

Some houses are in better condition than others. But if your agent ignores your concerns every time you see an older or more dilapidated home, you may have signed up with the wrong professional.

If you are visiting a home where the floors are clearly uneven or there are water spots on the ceilings and walls, these should serve as major red flags indicating that there are big issues with the property. If your agent tries to sweep them under the rug to make a sale, get away quickly.

When you sell a house, you usually enter into a contract with a real estate agent. But on the buyer’s side, there is usually no contract, so you can cut ties with your agent at any time. If you are unhappy with the service you are getting from your agent, you may want to discuss your concerns before you opt out. But if your agent fails to remedy these issues, you shouldn’t hesitate to find an agent who will make home buying more efficient and less stressful.

A historic opportunity to potentially save thousands on your mortgage

There is a good chance that interest rates will not stay at multi-decade lows any longer. That’s why it’s crucial to act today, whether you want to refinance and lower your mortgage payments or are ready to pull the trigger to buy a new home.

Our expert recommends this company to find a low rate – and in fact he used it himself for refi (twice!).

Read our free review

We strongly believe in the Golden Rule, which is why the editorial opinions are our own and have not been previously reviewed, endorsed or endorsed by the advertisers included. The Ascent does not cover all the offers on the market. The editorial content of The Ascent is separate from the editorial content of The Motley Fool and is created by a different team of analysts. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

About Lillian Coomer

Check Also

Book of the Week: A Case About Waiheke

Reading room A love affair gone wrong on Waiheke Island The Premise of Brannavan Gnanalingam’s …