Wanting to Work With Multiple Agents
We often hear that folks want to work with more than one agent at a time. This sounds like a good idea, but great buyer's agents are working with multiple buyers at once - they know the market extremely well, and only use their valuable time to work with buyers that have committed to working with them. You can either be at the top of one agent's list or at the bottom of many.
Attempting to work with several agents at the same time won't allow you to create a relationship with one agent. Remember this agent will be negotiating on your behalf for likely one of your largest purchases and most valuable assets.
Not Understanding The Value of a Buyer Representation Agreement
In the state of Idaho, you're not considered a "client" until you enter into a written Buyer Representation Agreement with your agent. That means you're merely a "customer" and not entitled to client-level representation. Two key ingredients missing from a customer-level relationship are confidentiality and representation. Confidentiality keeps your information private, and the agent is now allowed to reveal your max price, motivation, or any other information without your permission. Representation means it is the agent's legal and ethical obligation to do whatever is in your best interest above their own and anyone else's. Also, we're required to show homes first to those we have a client relationship with - very important right now with few homes on the market.
In order for an agent to devote countless hours finding you the best home that meets your criteria in the least amount of time and at the best price, there needs to be a level of commitment on both sides. We call this our 'loyalty agreement', where we agree to work together in order to help you achieve your goal.
Not Using An Experienced Real Estate Professional
There are around 5,000 real estate agents in our local MLS. Many of these agents are inexperienced and work part-time in the real estate industry.
Real estate is a full-time job. When full-time agents are not with clients, they are educating themselves on an ever-changing market. Don't leave the purchase of your most valuable asset up to someone who does not dedicate themselves full-time to representing your best interests.
