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.
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:
- You’re stuck with your first choice
- You don’t need a real estate agent
- Agents get the whole commission from a sale
- 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.