Like all professions, there are a number of misconceptions about real estate agents, some of which are unflattering. In fact, some people have a negative perception of real estate agents due to these beliefs. Here are four of the most common misconceptions about real estate agents and why believing in them can hurt your ability to buy or sell a home:
Real estate agents are obsolete since all listings are online
You can do a lot of research on homes that are for sale by looking online because most listings are online. However, finding houses that are for sale isn’t all a real estate agent does. An agent has a much better grasp of the local real estate market than you’ll ever have, even if you can get a decent idea of what it is by comparing all the listings in an area. An agent can use their resources to help you find properties that fit exactly what you’re looking for and that are within your budget, and notify you immediately as soon as properties such as these are listed. Not only will they help guide you through the entire process of buying a home, including negotiating prices and terms, but they will hold your hand through the closing process.
Real estate agents are dishonest
This is a common misconception shared among numerous professions, from used car salespersons to injury lawyers. There may be a few bad apples out there, but this doesn’t mean every agent is willing to lie to close a sale. Agents are legally bound to represent their clients to the best of their abilities. If they are caught doing otherwise, they could be forced to pay hefty fines and even lose their license to sell real estate. Exactly how can you tell an honest agent from a dishonest one? Easy — just do a little research on their reputation. You shouldn’t have much trouble finding reviews from former clients online, and most agents will be willing to provide you with references.
It’s easier to work with a listing agent — Working with the agent to buy the house that they have listed may seem like an easy route to take. After all, wouldn’t this help ensure that the buying process goes as smoothly as possible? While it is possible to work with the listing agent, you need to keep in mind that they have the seller’s best interests in mind, not yours. It’s a better idea to have your own representation separate from the seller’s so you know that your agent has your best interests in mind.
You can save money if you work with a low-commission agent
Since when has the cheaper option been the better option? The amount of commission an agent charges is often related to their quality — you get what you pay for, after all. If you do decide to use a low-commission agent, then make sure you know exactly what kind of services they are going to provide you upfront. Will the agent hold multiple open houses? Will the agent help you to negotiate with buyers? Or will your agent simply throw your listing up online and hope that someone bites? A poor agent can result in your home never getting off the market. Paying a higher commission for a quality agent is often well worth the investment.
Real estate agents are incredibly important to both the home-buying and home-selling process. Without them, you’re going to have a much more difficult time finding a home or selling your property. These are four misconceptions about real estate agents that you should be sure to ignore.
When you decide to speak with a real estate agent, please consider a Ballen Network Agent. Our agents are skilled, trained, and experts in their field. Connect with a Ballen Network Agent today.