Question Details

Kim Williams, Home Buyer in Springfield, MA

what are the most common mistakes that realtors make?

Asked by Kim Williams, Springfield, MA Thu Aug 23, 2012

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Answers

7
1) Working with a non-qualified buyer.
2) Working with a unmotivated seller.
Web Reference: http://www.archershomes.com
3 votes Thank Flag Link Fri Aug 24, 2012
Working with buyers and sellers that are not pre-qualified for the financing they need to complete the entire transaction. Like a seller that thinks they can sell and then arrange financing for the next deal, or a buyer that just verbally got pre-approved, didn’t furnish all of the support documents for review. Well, okay that might be a little slanted, the runner up in my book would be working with a client that has unrealistic expectations and not having a well-defined set of ground rules on the front end. If a buyer or seller sees nothing wrong with calling a realtor at 11PM then there is something wrong with the rules of engagement.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
1 vote Thank Flag Link Fri Aug 24, 2012
I agree with Bill in that taking an overpriced listing is potentially the greatest mistake...then you have the issue of the seller thinking the realtor has not done everything they can to sell the property...when in reality the issue is the price!!!
0 votes Thank Flag Link Sat Aug 25, 2012
Not verifying that all permits and certificates of occupancy are in place prior to taking a listing. I don't know what it's like in MA, but here in New York not having the proper paperwork in place creates unnecessary delays and deals falling apart.
0 votes Thank Flag Link Sat Aug 25, 2012
Spelling would be #1. Grammatical errors #2. Taking their own photos for listings is up there, along with providing decorating advice.
0 votes Thank Flag Link Fri Aug 24, 2012
I agree with Bill. Great answer and very, very true. Taking an over-priced listing hurts both the seller (who will take less money than what they could have gotten if listed at market value) and the realtor's conversion record. If more realtors walked away from over-priced listings, there would not be as many as there are on the market today. When a home sits on the market for an extensive period of time, buyers start asking themselves what is wrong with the house and stay away from it.
0 votes Thank Flag Link Fri Aug 24, 2012
Kim,

Great point.....

One of the most common mistakes agent fall victim to is taking listings that the seller refuses to accept the agent's pricing recommendations. Simply stated, agents would be well advised to walk away from these opportunities since they are so often a total waste of time, effort, and money.

Also the local RE market would be better served by not putting over priced property on the market for buyers to consider.

Bill
0 votes Thank Flag Link Fri Aug 24, 2012
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