Top Real Estate Agent Myths - Realtor Misconceptions

Top Real Estate Agent Myths - To Protect and Serve (and Save)

Oftentimes, we are taught the same values of our predecessors, family and friends. Their experiences have more of an impact on our perception than we would like to admit, and in many cases we let a sour turn of events impact not only our perception of that person, but that location, that company and that field of practice. Real Estate Agents have a bad rap, yes. But if you take the time to read this post, you'll learn quite the contrary about Real Estate Agents and our field of expertise. Let's debunk the Top Real Estate Agent Myths.

1. Real Estate Agents are always late for appointments - No. No matter what the profession, being late is not acceptable. We don't appreciate lawyers, inspectors, Cable Reps or clients being late, so why would we practice habitual tardiness? Unless an unexpected mishap crosses my path, I am early to appointments and take my time through presentations, questions and closings.

2. The more you pay for a house the more the Real Estate Agent makes - Not really. Whether a client pays $135,000 for a property or $138,000 for a property impacts my purse by a mere $45 after splits and E&O contribution. I could care less about what I walk away with at a closing. My goal is to attain a happy Buyer that spreads their good experience with other fence-sitters.

3. The less commission you pay as a Seller, the more you make in your sale - Nope. You'll walk away with a different number... and a headache. Discount brokerages offer their services to a very select group of people that would ideally have a very specific situation in terms of their Selling needs. Many times these brokerages do not carry as much exposure for their listings as full service brokerages and you may find that the listing process can be a bit drawn out with some.

4. Agents must show you homes on demand - Wrong again. We're not for free, and unless we're under a signed contract, we're not likely to drop our daily tasks to pick you up and cart you around town without meeting previously. Let's work something out - if you're looking, I'll help. But calling about another offices listing to demand service isn't the right foot to start off on.

5. Real Estate Agents get kickbacks - False. This is against the law. We take tests and have mandatory education regularly, part of which highlights RESPA or the Real Estate Settlement Procedures Act outlawing kickbacks since 1974. Nice try, though.

6. Real Estate Agents are favored by their Inspector - Negative. Some Real Estate Agents are comfortable with a lowly inspector doing minimal work and having minimal interaction with their Buyer. But let's take this seriously - Agents and their Brokerages can be held liable. I insist on a thorough inspection and go over the terms of an inspection report and what that would mean to my new homeowners. After all, why would you NOT want to know?

7. Real Estate Agents make too much money - Quite the contrary. The average income for a Real Estate Agent sits at $37,000. When you take into account all of the fees that are associated with the business, you'll think twice. I'm talking office fees, MLS fees, Membership dues to NAR, TAR and MetroTex (Dallas County), lockbox and sign fees, supplies, insurance, etc. It's a much less "fruitful" field than some might think!

8. Agents sell their own homes for more money than yours - Not even. We plead with Sellers to understand our reasoning for a lower listing price than what they expected - emotional ties and personal pride in a property interfere with ones ability to see the market like we do. And with this, we practice what we preach. Why would we want to waste the time and effort of overpricing our home, if we're busy with your needs?

9. Real Estate Agents should tell Buyers about ethnic makeup, crime and schools in a neighborhood - Ain't so! Enter in the law, again. Protected classes (race, color, sex, etc.) are covered in the Federal Fair Housing laws and are not to be discussed. My best advice to a Buyer? Visit the property at all hours - try 8:00 AM Monday, 11:00 Saturday and all hours in between. You'll get the feel for your neighborhood and whether it suits you or not.

10. Agents will say anything to make a sale - Absolutely not! Misrepresentation is a no-no. As with Myth #2, my goal is to create a happy experience and smooth transaction for you the Buyer, and all of your friends and family. Honesty is integrity and a policy of many Real Estate Agents.

I conduct my business in honesty, and hope that you would give the thought of a Real Estate Agent another chance - we're not half bad if you think about it! We've all made mistakes and all had the learning curve of experience in our careers, but the services that we offer are vital for a smooth transaction. Thanks for riding along as discussed the Top Real Estate Agent Myths!