There is a lot of misinformation out there when it comes to real estate and how a Realtor operates. We’re here to clear the air.
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The world of real estate is full of misunderstandings and misconceptions. Today we are debunking some of the most common real estate myths we hear from clients regularly. Here they are:
- Agents want you to pay a higher sale price so they can get a higher commission. Realtors are professionals, so when they ask you to pay close to, at, or even above list price, it’s because they know the property is worth that much. In today’s market that has such low inventory, some homes are only on the market for a few days. A lot of times, these homes will sell over asking price if they are receiving multiple offers. Give your professional trust and know they are going to do their part.
A strong agent is worth their commission.
- Listing my home at a lower commission will increase the profits from my sale. Like many things in life, you get what you pay for with a Realtor. When you hire a professional, don’t focus on their commission first.You want to hire someone for the experience they bring to the table, the negotiation skills they have, and their track record of helping people sell homes. Top agents don’t discount their commission for a simple reason. If they are willing to discount themselves, how willing are they going to be to discount your asking price? A strong agent that knows how to market your home has confidence in themselves and their abilities. You don’t necessarily make more money with a lower commission because you’re getting a worse agent most of the time.
- Realtors get kickbacks from lenders and inspectors. Not only is this not true, in some cases it is illegal. In certain states, it’s against the law for lenders, inspectors, or other individuals to give kickbacks to Realtors. When you get a recommendation from your Realtor, it’s likely they have already worked with, had success with, and established a working relationship with your Realtor.
These are just a few of the myths we hear all the time. Next time, we’ll be back to cover even more of them. Until then, if you have any questions for me at all, don’t hesitate to give me a call or send me an email. I look forward to hearing from you!