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Today I wanted to publish Victoria’s reasons for not hiring a realtor when selling your property in Costa Rica. We should always give you the good and the bad about everything, the reason for publishing these comments. We already know that there are people who think there is no value in hiring a realtor, which is not always true.
Here is what Victoria (Editor’s Note: Fictitious name to protect her real one) wrote:
Ivo, I appreciate what you do and how you do it in the Costa Rican real estate market. Your article on 10 reasons to hire a realtor is well done.
I’m wondering if you may consider a follow on with a title like 11 reasons not to hire the realtor you are interviewing to list your property.
Having been in and around the local real estate market for 20 years, I’d like to offer some real “tells” about which realtor not to hire to help sell your property:
1. Refuses to work with a nonexclusive listing or will only work if you agree to a 1-year listing with an automatic re-list requiring you to send correspondence to cancel the renewal,
2. Is not a registered Realtor (editor: real estate license is not mandatory),
3. Does not speak your native language fluently,
4. Does not live close to your area or in your town,
5. Has never sold a property in your city/town,
6. Does not have a qualified backup (a number 2) in their organization,
7. Is “hung up” and pushy on using the “standard listing contract,” ignoring most or all of your proposed changes,
8. Tells you (s)he will do things outside the terms of or ignore sections in the listing agreement, and they will cancel the agreement if you want to during its term,
9. Overestimates your property’s listing price to get you to sign a listing agreement… (you should know what a reasonable price range is!)
10. Does not provide complete copies of the listing agreement before meeting for your comments and then does not provide a complete copy with all agreed modifications initialed at signing,
11. The realtor insists you utilize his attorney for the closing process,
Finding a hard-working, honest, and truthful real estate agent in Costa Rica is very tough. You are an exception, and I am thankful we found you several years ago! Thank you! As always, good luck, and I wish you and your business much success.
Thanks, Victoria, for your effort to give us the view of a seller on listing with an agent and share the 11 Reasons for NOT hiring a realtor when selling property. I’m sure many readers will now use your guidelines when planning to put their property on the market.