Here’s What Happens When You Pick the Wrong Real Estate Agent

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Whether you’re buying or selling a home, the wrong real estate agent may cost you money. Here’s what can happen when you land on the wrong agent. 

My husband and I have spent decades buying and selling homes. Like Goldilocks, we’ve experienced it all. Some real estate agents were too pushy, some too passive, and a couple were just right.

If there’s anything I can share with you, it’s the importance of working with the right real estate agent. And with 2 million real estate agents working in the U.S., there’s undoubtedly someone for everyone.

Based on my experience, here are five things that inevitably happen when you pick the wrong real estate agent.

1. They blow smoke

Once, when we were selling a home, we had an agent who greatly exaggerated the value of our property. It was during the Great Recession, and she said exactly what we wanted to hear. Yes, it was a great house, but it was in the middle of the housing crash. We should have been wary.

According to this agent, everything was great, and nothing needed to be changed. Again, words we hoped to hear.

I don’t care how lovely your property is; there’s always something you can do to improve it, especially if it’s not selling. Looking back, she should have suggested a concession or two to sweeten the pot. We could have paid for maintenance on the hot tub for a year or covered the following year’s HOA dues.

The house lingered on the market as it was, making buyers believe we would entertain lowball offers and, ultimately, costing us money.

2. They suddenly change their tune

The same agent came to us shortly after the house was listed, telling us we’d priced it wrong. My husband and I counted on her expertise, and the asking price was precisely what she suggested. I understand lowering the price on a property that’s becoming a stale listing. What’s more challenging to understand is dropping a price before the first full wave of potential buyers makes their way through.

If you feel you’re being played by a real estate professional who wants to make a quick sale, you know you chose the wrong person.

3. They juggle more than they can handle

If you’ve ever been to a hairdresser who juggles you and two or three other “important” clients, you know how frustrating the experience can be. By the same token, if your agent is so busy juggling clients that they don’t answer your calls (or at least get back to you), that’s not a great sign.

I’ve discovered that some agents can easily juggle a ridiculous workload and still be organized and efficient, but that’s not always the case.

You deserve someone who’s fully engaged, particularly when you’re taking so much money out of your bank account to make a home purchase.

4. They push you to make a poor decision

There’s no denying that a potential home buyer cannot dilly-dally in this market, but that doesn’t mean you can’t take a little time to decide. Here are some of the less-than-stellar decisions we’ve been encouraged to make and how they were presented to us:

“The homeowners have several other showings this afternoon. If you want this property, you will have to act fast. If you want to do it now, there are contracts in my car.” They tell you that overpaying for a property is the only way you’ll be able to buy a home. They suggest you contact your mortgage lender to ask if the loan amount you’ve been approved for can be increased. “Omit all contingencies. No homeowner will accept your offer if you demand a home inspection.” “The first offer you receive on your home is always the best. You should accept it even if it’s not what you want.”

Is it possible that a homeowner will reject an offer that includes contingencies or that your first offer on your home will be the best? Absolutely. But there’s a difference between an agent who educates you, providing evidence to back up what they say, and an agent who pushes you to close a deal.

5. They become angry when you’re honest

Unless you’ve signed a contract, no law says you must continue to work with an agent who’s not right for you. Once, when we were buying a home and realized that we were doing all the work, we told the agent that it wasn’t working out for us. We had just moved to a new city and needed more direction than he was willing to provide. We didn’t feel good about dropping him, but we knew he didn’t fit our needs.

What we got in response was an insulting letter telling us what a waste of time we were. That might have made sense if he’d spent more than an hour with us, but we were just beginning the house hunt.

Like any other professional, an excellent real estate agent knows how to handle people and certainly knows better than to insult those he comes in contact with.

The agent who sold our home last summer and the agent who helped us find a new one in another state were both fantastic. We may have gotten lucky, but I’d like to believe we’ve learned something from past mistakes.

Before you buy or sell property, interview several potential agents. Ask tough questions, and then do a gut check. Is this someone you trust to partner with you as you make one of the most significant financial decisions of your life? If so, you know you’ve found the right real estate agent.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Dana George has no position in any of the stocks mentioned. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

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