You may believe or have heard myths about real estate agents over the years. Real Estate Ink, a premier, full-service brokerage in Melbourne, FL, clears up any confusion with the following information:
Agents Are Obligated To Show Homes
No, an agent you call isn’t required to show you a home unless the agent represents the seller or you signed a contract with the agent. Demanding service isn’t the way to go. Don’t waste an agent’s time and be straightforward when you call if you are not already planning to write an offer on a house. Likewise, the listing agent is also not obligated to show a listing if you’re already represented by another realtor, without that realtor’s request to the listing agent.
They’re Always Late
Real estate agents are not always showing up late to (or missing) appointments. Professionals like Real Estate Ink agents make it a point to honor their promises and regularly be on time, displaying respect to their client.
Paying Less Commission Means More Money for You When Selling
This is a myth, and the truth is that excellent real estate agents do not discount services. Full-service agents, like Real Estate Ink agents, usually draw higher offers than the agents who aren’t full-service. The non-full-service agents can’t afford full market exposure like full-service agents can.
They Sell Their Own Homes for More Than Yours
Untrue. Top agents are busy and can’t waste time when selling their own home; they also better understand the market than the average seller, so if a home isn’t selling within a sensible timeframe, that means it’s priced too high.
Agents Need to Disclose Crime Rates, Neighborhood Ethnicity, and School Stats
This is actually false, because the Federal Fair Housing laws block an agent from discriminating against protected classes (prohibiting them from saying anything even related to the protected classes). If you need this type of information, agents can point you toward where to find it instead.
They’ll Tell You Anything for a Sale
No. Top agents who have solid, reputable history in the community and who work honestly understand the importance of truthful relationships with their clients. There are the other types of agents out there who lie, but remember that it’s against the law for agents to make false statements and misrepresentations. Real estate agents who don’t disclose material facts, or who break fiduciary relationships, are open to prosecution and loss of their license to sell.
Agents Make More When You Pay More for a House
This is false, and leads to seller mistrust of agents. Here’s an example: the commission difference for an agent is only about $150 when comparing $300,000 and $310,000 houses. Buyers don’t have to pay for services or representation; the seller typically pays all commissions.
The Agent’s Home Inspector Favors the Agent
Agents want disclosure just as much as the buyers does, because they want the best for their clients, and they also don’t want to be sued! Agents must disclose material facts, and reputable agents help their clients as much as possible.