Whether you’re buying a Boston condo in Back Bay or selling a condo in Beacon Hill, you should carefully consider the real estate agent you choose. Along with an agent’s specialties, recognition, and how well you get along, you may want to consider how much experience the agent has. Without much experience, new agents can be prone to making mistakes that may cost you.
1. Using Ineffective Marketing Strategies
Boston condo agents develop a winning marketing strategy after years of experience selling homes. If you hire an agent without much hands-on experience, he or she may not use the marketing budget as effectively as possible. It’s common for new agents to put too much effort into print marketing for visibility, although these traditional channels offer a low return on investment today.
A solid marketing strategy considers not only the sources most likely to generate leads, but also the market conditions. As the market changes from a seller’s market to a buyer’s market, agents need to adapt to put more effort and money into marketing homes. In general, experienced agents are better able to recognize these signs and know where to appeal to potential buyers.
2. Overloading Their Schedule
New agents are more likely to take on too many clients too soon or take on too much without hiring an assistant, and they may spend too much time prospecting and doing office tasks, which can make it harder to put an offer in on the home you want, sell your home faster, or close on time. An experienced real estate agent is typically surrounded by a team of experts with more time to devote to clients.
3. Failing to Anticipate What Can Go Wrong
Buyers and sellers are both anxious to close as soon as possible, but there are many things that can come up to delay closing. All it takes is one title report issue, mortgage issue, or low appraisal value to derail the time schedule. Seasoned Boston condo agents can see these issues coming and reduce delays in closing. The ability to anticipate obstacles comes from years of experience.
4. Not Developing Good Negotiation Skills
One of the most important reasons buyers and sellers hire agents is for their negotiation skills. Unlike most sellers and buyers, agents have no emotions involved in the transaction. A good agent is more than just a messenger who passes information from one party to another. A seasoned agent has perfected his or her negotiation tactics to present the client’s case and look after the client’s best interests.
5. Failing to Communicate Well
While this is a mistake even seasoned agents can make, new real estate agents are more likely to underestimate the importance of communicating with clients. Buyers and sellers both want frequent updates about what their agent is doing for them, whether it’s showing the home or answering questions from potential buyers. When your agent fails to stay in touch, you may feel forgotten and that he or she isn’t working in your best interests.
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