8 signs of a bad property agent that can make you lose money

845 Comments / Agents corner / By Henry Okporozuo

Have an idea what the signs of a bad property agent are? There are numerous real estate agents in Nigeria today. Some of these agents moved into real estate for several different reasons.

Most real estate agents in Nigeria became agents due to unemployment in the labour market; others became agents because of the huge commissions real estate agents make whenever they close any transaction.

However, only a handful of real estate agents became agents based on their passion for the job. This crop of agents has taken time to really learn the profession in order to create value for the clients they serve day by day.

This article highlights some common signs of a bad property agent. So, if you are looking to buy or sell a property and are bothered about how not to make the mistake of picking a bad property agent, keep reading, this article is for you.

1. A bad property agent lacks good communication skill

Every successful transaction begins with communication. Don’t you think an agent that cannot adequately communicate to you in an honest manner should be avoided?

Your agent needs to truthfully communicate to you about the pros and cons of any investment you want to make, even if they won’t make any money from such transaction. Such attitude will increase your level of trust and confidence for them.

2. A bad property agent does not follow up on clients

Many real estate agents are after closing the deal. When the deal is closed and they get paid, it’s “goodbye!” If you are buying a property, does your agent follow up on every inquiry you make and give you feedback?

If you have bought a property with the agent, do they follow up to know if there are issues you have after the purchase? Do they make any effort to see that your issues are resolved or do they just leave you to your plight?

And if you are selling your property with an agent, does the agent follow up on clients who showed interest in the property?

Do they give you any update regarding your property- the price update due to the location? If the answer is yes, congratulations, but if the answer is no, then it is time to re-evaluate your agent.

3. A bad property agent is always pushy

Some real estate agents are overly ambitious. They just want you to pay for a property without letting you properly do your due diligence on the property. This kind of agents don’t tell you the truth because the truth will hurt their chances of making money.

They give you all kinds of false hope about a property just to lure you to part with your money. They won’t tell you something is wrong with electricity in that area, they won’t tell you there is no clean water or adequate security in the area you want to move to.

When it is your property they are renting out, they don’t do adequate profiling of the prospective tenants – which could lead to renting the house to the wrong individuals who either cannot pay the next rent or are fraudsters (yahoo boys).

4. A bad property agent is not patient

When an agent is not patient enough to listen to you tell them exactly what you want, or when they are always insistent about you taking whatever they tell you about what you want – it’s a sign of a bad agent.

When a property agent shows you one or two houses and you reject the houses because they don’t meet your requirement, do they get upset and feel reluctant to get you another property? If the answer is “yes,” ding-dong, ding-dong – that’s a bad agent. Run!

5. Avoid property agents that don’t have online presence

They don’t have online presence in this century? No website, no Instagram account, no Facebook page. It’s either they are “old model” and still operating in the old order, or too lazy to put in the work to grow their business beyond its current state. Please run for your dear life!

See: 10 Ways to Avoid Property Scams in Nigeria

6. Avoid agents that don’t ask questions

When you meet an agent, either to buy or sell your property, they should be able to ask questions in order to understand the state of the property. Imagine hiring an agent to help you sell your property and the agent doesn’t ask relevant questions regarding the property, would you think the agent knows what they are doing?

However, if the agent asks you questions about the history of the property, when it was built, the title on the property, the price you want to sell (and probably advises you on pricing), why you want to sell, and probably shares with you their knowledge about the location, would you not believe that the agent knows what they are doing?

7. Avoid agents that do not take responsibility

Admitting that we are wrong when we are wrong, attracts more trust, respect and goodwill to us than we would otherwise think.

Dealing with any real estate agent who constantly makes excuses when they are wrong and refuses to take responsibility is like sitting on a keg of gunpowder. It’s a mission that is bound to fail – so, avoid such agent.

8. Avoid agents that are too busy for you

Any property agent that is not easily accessible is a “no-no.” You hardly get them on the phone when you call, and when you get them, they tell, “I will call you back.” They take time to respond to your request or they are engrossed with other activities. This is a red flag! Avoid them!

Get another agent that will not be too busy and inaccessible to you. Don’t let anyone waste your time.

Can you trust a real estate agent?

Yes, you can trust a real estate agent! Real estate agents are professionals and many of them take their careers seriously. This is because they understand that most clients who buy or invest in properties are business owners, top executives and wealthy people, and they will have to be on top of their game to be able to interact with these clients.

However, just like in many of life’s endeavours, some real estate agents are not professional enough, and so don’t strive enough to develop themselves accordingly. They are in it just to make money and don’t care about building relationships. This is why you have to be careful when you are picking a real estate agent to work with you.

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