4 Common Myths About Real Estate Agents

If you’re shopping for a new property, chances are that you’ll spend at least some time talking with a real estate agent. But do you really understand what they’re there to help you with? Real estate agent myths are remarkably common and confusing to anyone just trying to figure things out. Start your real estate hunt by informing yourself about your agent’s job.

What do you really know about your real estate agent’s job? Learn the most common myths about their work and the truth.

Misconceptions About Agents

A real estate agent’s job is often rather different from what potential buyers think. While there are a variety of different misconceptions about the real estate industry as a whole, several of the more common myths specifically about agents include:

  1. You’re stuck with your first choice
  2. You don’t need a real estate agent
  3. Agents get the whole commission from a sale
  4. One agent is as good as another

1) You’re Stuck with Your First Choice

As a buyer, you may have to sign a contract with a particular real estate agent. While this may in fact mean you’re committed to them for the entire process, this is very rarely the case. More often than not, you can choose to opt for a different agent and continue the process elsewhere. If you feel like your agent isn’t a good fit for you and what you’re looking for, be honest about it and see if you have the option to switch.

2) You Don’t Need a Real Estate Agent

This is only true if you know the neighborhood and local property values inside and out–and let’s face it, most people moving to a new location don’t know that much about it. Having a competent agent helping you search and find a home can be a lifesaver when you’re in unfamiliar territory. Let them help you with your search.

3) Agents Get the Whole Commission from a Sale

While real estate agents get a commission payment from a sale–it’s their salary, after all–the amount and percentage they receive are rarely set in stone. Sellers and other involved parties usually negotiate the total amount. While your agent is ultimately working this job to earn a salary, don’t assume they’re just trying to sell you a really nice house because they want a big commission check. They may not have a guarantee of how much they’ll make off the sale.

Pro Tip: Real estate agents make a commission off their sales, but don’t assume they’re in it for the money. They just want to help you find your dream house.

4) One Agent is as Good as Another

Like any business, not all real estate agents are created equal. An agent who has lived and worked in the area for years will be much more helpful to you than someone who just moved there themselves. Additionally, some agents will be more professional and easier to work with than others. Don’t be discouraged from finding a good agent just because your first attempt didn’t work out. Keep looking! The right agent for your situation is out there.

Learn What Your Real Estate Agent Really Does

These common real estate agent myths ultimately help no one. While your agent is hoping to earn something–it’s their job, after all–their primary concern is helping you find the perfect property to call your own. Don’t let these misconceptions get in the way of a fruitful relationship and successful property purchase.

Connect with us to learn more about what a real estate agent can do for you.

What your Property Management Company Should Know About Commercial Properties

Commercial property management typically involves more interactive details than other types of property management, and thus requires a very knowledgeable handler. Leave your commercial real estate management should to experienced and educated professionals who can best represent your needs.

Commercial property management requires an educated team to handle all the intricate details. Here’s what your property management company should know about commercial properties. Click To Tweet

What to Ensure Your PMC Knows About Commercial Properties?

Your property management company should know the ins and outs of who you will be working with and the insurance that will be needed.  A reliable property management company will assist you every step of the way in answering your questions and providing helpful insights toward your commercial property.

Who Will be Renting the Space?

Depending on where your property is located, your property manager should be able to roughly predict what clients you may end up with. For instance, a building in the shopping district will probably end up housing gift shops, fast food joints, or similar businesses. This information will then help you determine how much rent these businesses will likely pay you and how much you will make off of renting to them.

What About Insurance?

In addition to their other services, a property management company should know how to help you with insurance against damages or bounced rent checks. Ask about your management company’s insurance coverage to ensure that they are knowledgeable about loss prevention and risk management. Your property management company should have no conflicts of interest that will affect you in getting the best value.

Pro Tip: Find an accredited property management company with a professionally trained staff. They’re more likely to know exactly what they’re doing when it comes to commercial property.

Do They Show Diligence When Working with You?

Lazy employees can make or break a property management group. Do you suspect that your critical documents just collect dust in their office? Follow up with them to make sure they’re informed about your questions and concerns. If they seem to be blowing you off or indicating they aren’t even checking your communications with them, it’s time to start looking for someone else.

Do They Have Good Ideas?

A property management company works to support your rental business and keep your properties valuable. Since both you and the company ultimately benefit from a successful rental, it’s important for the company to be invested in helping you. If they suggest ways to increase your property’s value, listen and consider your options. A helpful management group can only benefit you in the long run.

Conclusion

A commercial property management company should be providing you with the answers to your questions every step of the way. Everyone should be on the same track when discussing the commercial rental property at hand. Be sure that your property management company are willing to communicate effectively and do their best to efficiently retrieve results.

Connect with us to learn more about our property management team.