According to a recent CNBC article, 33% of homeowners are willing to hire a “questionable” contractor in order to save money, defining it as “someone who isn’t exactly honest with the price, may be overestimating their skills, doesn’t do high quality work, or simply doesn’t show up for the project.”
As you can imagine, doing so comes with the risk of “getting what you pay for” in the form of shoddy work… if the project gets done at all.
While carpenters, plumbers, electricians, and painters are probably the types of contractors that come to mind, this can also apply to anyone trying to save a few bucks when hiring a real estate agent. An agent is technically an independent contractor you’re hiring to help you buy or sell a house, and cheaping out on the one you hire could cost you in the long run.
So here are a few ways those “questionable” qualities listed above may show up in an agent, and you may want to think twice before hiring them to save money:
1) They aren’t exactly honest with the price…
Some agents are eager to make a deal and might bend the truth or tell you what you want to hear.
For instance, they could start by quoting a higher commission rate, and then lower it just to win your business. While commissions are negotiable, an agent should feel comfortable with the commission rate they’re charging. If they’re willing to lower their commission, make sure they give you a confident answer as to why they are willing and able to lower it.
Another way an agent may not be honest with price is by agreeing to list your house for a much higher price than most other agents suggest. They might be doing it in order to secure your listing, only to push for a price reduction later on.
An agent who is straightforward and gives you a realistic price range commission rate—even if it’s not what you’d hoped for—will likely save you frustration (and money) down the line. Look for an agent willing to be honest, even if that means saying something you’d rather not hear.
2) They overestimate their skills…
Whether you’re considering hiring an agent with years of experience, or one who is newer to business, an agent who makes sweeping claims—like guaranteeing you’ll get way above market price or promising they can get your lowball offers accepted by any seller in a tough market—can be a red flag.
Look for an agent who can provide specific examples of their qualifications that back up their promises. An agent willing to discuss both the benefits and limits of their experience will generally serve you better than one who sounds like they’re claiming to be the next best thing since sliced bread.
3) They don’t do high quality work…
High-quality agents put effort into all aspects of their work, from communication to paperwork to marketing your property. Do they have solid marketing materials, or do their photos and listings look a bit sloppy? Are they detail-oriented in their paperwork, or do they miss deadlines and make errors?
Quality can often be seen in an agent’s track record. Ask for references, and see if their previous clients were happy with their attention to detail. Don’t settle for someone who cuts corners or produces lackluster work; the right agent will show care and precision in every aspect of their job.
4) They simply don’t show up for the project…
When you’re buying or selling, you need someone reliable. A trustworthy agent communicates openly, respects your time, and stays responsive throughout the process.
While everyone has off days, consistent no-shows, late responses, or canceled appointments are signs of an agent who may not be reliable when you need them most. If an agent is difficult to reach, cancels appointments, or takes a long time to respond to your messages early on in the process, it’s a good sign they’ll be that way once you actually hire them.