3 Red Flags to Be On the Lookout For When Seeking a Real Estate Broker

Finding the right real estate broker to sell off your San Diego property can make all the difference. Today’s economy has fully recovered from the housing bubble recession that saw aftershocks well into 2013. Today the housing market, not only in San Diego, but the rest of the US is booming, and sellers can look forward to seeing massive returns on their homes in San Diego and the Bay Area. While this is cause for optimism, it is also all the more reason to find the best real estate broker you can. A bad broker can end up costing you time and money. Here’s what to look out for.

#1. They Suggest a Price Higher Than the Fair Market Value

If a broker does this, and sometimes it makes sense, they’re anticipating that your home is going to be on the market for a very long time. If anything, most savvy brokers will underprice a home in the hopes of creating a bidding war among interested buyers. It is hardly ever a wise strategy to overprice a home, and in a real estate market like San Diego, it simply doesn’t make sense. Not only is it likely to sell for less than the sticker price, but it’s also going to take significantly more time to sell than a home that has attracted a number of interested buyers.

#2. Real Estate Agents Should Have Intimate Knowledge of the Neighborhood

If your broker doesn’t have a keen knowledge of the neighborhood they’re dealing with, they could be missing out on opportunities that would benefit you. There are a couple of reasons why this is important. Firstly, school districts, crime rates, and other things that raise or lower the value of a property are going to be a major selling point for your home. Another reason: real estate brokers that specialize in certain areas, likely know a number of interested buyers already and can have folks lined up for you almost immediately.

#3. The Agent is Unaccustomed to Working with Buyers in Your Price Range

In today’s market, it’s common for a real estate listing to last about a week or two on the market before it a deal is closed. This is because inventory is so low, and interest is so high, that homes simply don’t last very long before an interested and prepared buyer comes along and snatches it up. But the fact is that this is most true of homes in the midrange variety. For San Diego that means homes that are between $300,000 and $600,000. If the agent is used to dealing with $1 million dollar homes, they’re likely to be focusing more on higher end clients and that means they’re missing opportunities for you.

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