5 Myths Your Clients Believe About Real Estate Agents
You know it’s coming. You can feel them thinking it.
There will always be the myths and misconceptions that follow real estate agents. Below are some of the most common, but please comment what you hear the most of. (Could be cathartic, right?)
Myth: Real estate agents will say anything to make the sale.
Unfortunately, we can’t say that no real estate agents lie. The ones that have lied, have given a bad rap to the rest of us. Real estate agents have way more riding on their word than just that single sale, or not. For one, real estate agents get a majority of their clients from referrals. Lying to clients would certainly not end up with happy clients, and would not lead to great (or any!) referrals down the road. Second, making misrepresentations or false statements are against the law and could land agents in court. For a real estate agent to break this law means they could easily lose their license in the process.
Myth: The more you pay for a house, the more the agent makes.
Each property and set up is different, and the commission can always be negotiated. Depending on what parties are involved, what commission rate is negotiated by the seller, and the payment structure between buying agent, selling agent and brokers - that original percentage is completely sliced and diced. This means, a $10,000 difference for a client could dwindle to a $150 difference for an agent. Needless to say, agents don’t have the time or energy to base a house’s selling price off of a potential hundred extra bucks!
Myth: All the expenses are reimbursed.
Between printing signs and postcards, social media ads, filling up gas like your job depends on it (oh wait …), photographers, and that car you essentially work out of, the expenses really add up. Many people don’t understand that anything extra you put into marketing their home, or going out of your way (literally and metaphorically), are coming out of your own pocket.
Myth: All real estate agents are the same.
We may be bias, but this one truly makes no sense. Real estate agents are as different, as one homeowner is to another. Real estate agents may have similar goals, but we’d hope they do! We want to give clients that best experience possible! Our best advice to clients is to interview several real estate agents, and between understanding their personality, workflow, and track record, make a decision they feel best about.
Myth: It’s cheaper to buy a house without an agent on your side.
If someone without an agent goes into a house, decides they want to buy, and everything works out smoothly - then yes, they could save a little. However, the process of buying a house is just that, a process, and there are many twists and turns where having a knowledgeable agent could be extremely helpful. Without the expertise of an agent, what’s more likely to happen is that you go into the process blind and don’t end up with the results that you were hoping for. (Or if nothing else, spending more time and money on the process than you were planning on).