Myths About Real Estate Agents

It’s easy to fall for myths that are portrayed as fact, especially when it comes to real estate agents. As buying a house or renting a property isn’t something you do on a weekly or monthly basis, you don’t get to spend much time with various agents to determine what’s real and what’s fiction. To make sure you’re prepared to work with a realtor, here are a few common myths that we’ve debunked just for you.

They’re always late

This depends on the individual real estate agent rather than all agents as a whole. While no professional should make a habit of being late when meeting clients, there’s always a possibility of tardiness. However, that’s not to say that all agents around the world are always late to an appointment. If you find that to be an issue, then it’s time to find a new realtor.

The bigger the price tag, the more your agent makes

This is false. An agent’s commission doesn’t increase by thousands of dollars if you sell your home for more money than you originally intended. The difference between selling a home for $410,000 rather than $390,00 is a couple of hundred dollars at the most.

They’ll show you houses on demand

A real estate agent doesn’t have to show you any properties if you haven’t signed a contract with them. As agents don’t work for free, you can’t demand free services. If you don’t plan on signing with a specific agent, tell them up-front, as they need to know if their services will be paid for before agreeing to work with you.

They get kickbacks from lenders and inspectors

Real estate agents have been prevented from taking kickbacks of any kind since 1974, thanks to the Real Estate Settlement Procedures Act. Ignoring these guidelines can result in a loss of their license, something most agents don’t want to risk.

They make a lot of money

Even though there’s commission involved in the real estate game, the average agent will make around $36,000 per year. Many don’t take into consideration fees that need to be paid, like office fees, MLS fees, lockbox fees and more.

They’ll sell their home for more than yours

Agents who are busy selling other people’s houses don’t have the luxury to spend weeks or months trying to sell their our homes. As real estate agents understand the market better than most, they can do what needs to be done to sell their home quickly, whether that means lowering the price dramatically or making a deal with potential buyers.

They’ll say anything to make a sale

While some agents might lie to you to get the sale, you can’t judge every real estate agent based on a few bad apples. Many agents take their client’s trust seriously, working hard to get them the best offer possible or finding homes based on very narrow parameters.

At The 222, we offer luxury condos for sale and brand new homes for sale in Maple Ridge, British Columbia. For more information, floor plan visuals and more, be sure to visit our website at http://the222.ca/.