Debunking the Top 10 Real Estate Myths

Now you get to deal with an agent, so what now? Do I sit around, do nothing and wait? It’s one of those moments you just wanted to spy on your agent to know what he’s up to and if the money you’ve entrusted really goes to who and what. How about trusting your agent to do what he’s paid to do but still can ward off your anxiety?

For first time homeowners and for sellers who has emotional attachment to their properties, these scenarios might be common, but hey, let alone the agents do their job and trust what they can do. After all, you have chosen them for the task. Here are some of the myths of Real Estate Agents do and we’ll debunk them for you.

They want you to pay higher sales price for higher commission. – False. they can only be paid commissions based on your agreement.

They are always late for appointments. – False. Real Estate agents are professional. They respect their clients and would also wanted to be respected more so be trusted.

They get major kickbacks from lenders, inspectors and title agency. – False. This is against the law and every real estate agent should know about this or lose their license. It is against RESPA – Real Estate Settlement Procedures Act.

The agent’s home inspector will always favor the agent. Good and honest agents care for their clients. They received full disclosure and will fight for rightful repairs in behalf of the buyers or cancel in behalf of buyers.

They made more money than you. False. With less than *$36,000 a year and the reality of closing less than four deals a year, they can barely live on that.

They will say anything just to close a sale. False. For some maybe true, but let’s not take this against everyone. Most agents practice real estate honestly and truthfully. They are very careful not to misrepresent or make false statement that may result losing their professional licenses.

They are all the same. False. Every single agent has their own expertise and may differ from one after the other. Their level of knowledge and tenure also contributes to how well they can easily close a deal.

You can save money by selling your house without an agent. – This might be true to some but only if you have the skills same as the agents do.

They will advise you to renovate your home first for higher value price. – That is only true if that is part of your agreement for a better value but that doesn’t mean the money spent on renovations will come back to you.

Experienced agents are always the best agents. Though the tenure of your agent qualifies him for it, it is not always necessarily true. What matters most for buyers and sellers is that the agent can be trusted, honest, has the initiative and other qualities you preferred to be working with.

*Based on Salary.com

 

 

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