When it comes to the real estate industry, there are a lot of misconceptions floating in the market about real estate agents. Many home buyers and sellers doubt their work and consider that they can’t be trusted.
Just because you came across a negative comment about a real estate agent on the internet does not mean that it is true. Therefore, it is crucial to debunk all the myths and misconceptions people hold about real estate agents and their work.
The following are the myths that are commonly heard, and you should not trust them in any way.
- Real estate agents earn a lot of money quickly – It is not at all true. Many, who know the truth will laugh on hearing this myth. Agents rely on commissions and only an experienced agent earn large commissions during a market boom. Still, they have to save for other days when the market will be down.
Few real estate agents certainly make a nice income only because they put in a considerable amount of time, money and effort.
- The job of real estate agents is easy – Do you think that selling or buying a home is an easy task? If yes, then you need to think again. Being a real estate agent is quite a challenging task. He/she has to be a lawyer, marketing expert, salesperson, financial adviser and sometimes a therapist. However, it is not guaranteed that he/she will be paid or not. Therefore, it is no way an easy job.
- Real estate agents say or do anything to sell the house – There is a strict code of ethics that a real estate agent is supposed to follow. They cannot say anything for the sake of selling a house. No doubt, there are some agents who do anything to make a sale, but a majority of real estate agents who are true to their professional never do or say something tricky to make a sale.
Most of the business of real estate agents is dependent on referrals and words of mouth. It is up to you, whom you select for selling or buying the house. I highly recommend doing thorough research before hiring any professional.
- Real estate agents hide important information about the house to make a sale – It is compulsory for real estate agents to disclose all the issues about a home before making a sale. In case they don’t do so, then they had to face legal problems. They can be driven to court, and the higher authorities can cancel their professional license.
A well-educated real estate agent knows all the rules and follows them strictly.
- Money can be saved by not hiring a real estate agent – Because of the commission cost that real estate agents get; you may think that money can be saved by not hiring the real estate agent. This may be true to some extent but hiring a professional can be helpful in a number of ways and your time as well as money can be saved.
The agent you hire, assure that the house you want to buy, or sell is priced appropriately. Without the help of a professional, you may list your home way over or way under the real value. This could waste your substantial time and money.
Further, agents can help with your paperwork. They make sure that all the papers are filled out correctly, and nothing is missing. Moreover, they prevent you from making any bad or less-favorable deals.