8 Most Mistakes Made When Hiring Estate Agents
The thing about the property is that it needs a lot of management (irrespective of the size and kind of property) and when things aren’t really taken care of it becomes a mess for the property owners and those who are staying there.
Keeping this in mind what you need the most is an estate agent who can with all efficiency provide you with the best services and assistance to make the right decisions when matters concern property. However, the problem again is selecting the right estate agent and mistakes made in the selection process usually lead to the waste of time and effort.
Here are the 8 mistakes made when hiring estate agents
- Not Doing the Necessary Research – The first and the major mistake that most people make is not doing enough research when it comes to choosing one estate agent for property management services. Remember research will help you in understanding the kind of work the agents do and how that can be in a way beneficial to you.
- Ignoring the Comparison Part – The next mistake that is made at most occasions is people not doing enough comparison of one estate agent with another one which in most cases leads to making the wrong deal and technically wasting all your money. Comparison helps in deciding among two or three parties providing similar services, so you can choose the one that best suits your requirements, interests and budget.
- Not Inquiring About the Industry Experience – The right kind of experience is one thing that always plays the role for you when choosing an estate agent – so make sure you’ve got the information of the industry experience and of the number of clients who have been given the service during the years. This is important so make sure you never really ignore this point.
- Not Getting the Queries Answered – Have questions in mind? Make sure you take the answers for each of those from the estate agency. Make it a habit to ask whatever you feel like when it a matter of services that you are opting for, this will save you from making any assumptions and eventually will save your money and time.
- Not Taking the Reviews and Feedback – Reviews and feedbacks form previous clients will have a definite role to play when it concerns property management or hiring any estate agency for the work. For those of you who are confused whether these reviews are 100% true and accurate remember that taking some reviews is any day taking no reviews at all – so make sure you’ve taken just enough of them and have things lined up for you before you make the final decision.
- Not Negotiating the Service Cost – Different estate agents provide their services are different rates and that is where the comparison comes into play. However, apart from the comparison part one thing that comes into play is negotiation and if you can do enough of that remember there is nothing better. Negotiate the service cost and see what additional services you can get included in the same package – remember there is always some scope for negotiation.
- Not Setting a Timeline – One of the biggest mistakes of all time is not giving the estate agents or the agency a timeline; you should at the first instant be very clear about the services you are looking for as well as the timeline within which you’re expecting to receive these services. The timeline is important because this will help you in deciding whether or not the agent is competent enough to provide time-bounded services.
- Ignoring the Importance of Monthly Reports – When hiring the estate agents for any property related services ask the agents whether or not they will provide you monthly or weekly updates of the work that has been done by them. Make it a point to NEVER hire an agent who doesn’t agree and commit to providing the weekly reports. This is important because you should at all times have an update of whatever the work has been achieved so far by the agent and what you should expect in future – this maintains trust and transparency.
Keeping in mind these eight points mentioned above will help people in choosing the right agent for property matters, eventually saving a lot of time and hard-earned money.