6 Myths about Real Estate Agents

Dated: 07/03/2019

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Real estate agents are everywhere. There are almost as many agents as there are attorneys in the local directories. 

Contrary to what some think is an easy job the hard working people in this industry deserve the respect they enjoy today. While you might know at least one realtor® in your life right now, you might be familiar with the many misconceptions about how agents work. At some point, you might have believed them too.

If you’re about to work with a local agent, it’s best to know the truth behind the following 6 most common myths about these hard-working professionals:

1.    Being a successful real estate agent comes easy

While anyone can get their real estate license, not everyone can become a successful one. Like any other profession, you need the drive and determination to push through. Real estate is a unique and interesting business. If a licensed real estate agent not genuinely all in, it will show in in the agent’s performance. 

Doing it only for the money will not see you through. Long hours of hard work will show in every deal you are trying to close. There’s lots to do behind the scenes before meeting your clients. 

Being a real estate agent means you have the power to help your client get the best out of their property or money. To become a real estate agent is to be ready to give a 100% effort and no less.

2.    Real estate agents barely do any work.

What do real estate agents do? Your realtor acts like your trusted advisor, sales, and marketing professional. They also act as a negotiator, walking Rolodex of vendors and professionals, and at times, therapist. 

All of these jobs with no guarantee of ever receiving payment. Each real estate agent runs his/her real estate business. Being in real estate business means saying yes to juggling all the responsibilities is part of the business. 

If you’re lucky enough to find a competent local buyer’s agent, you can trust that he/she will cover everything necessary for your best interest. These agents must have likely been inside and know the history of the homes nearby. They know the best inspectors, architects, attorneys, and lenders. 

Their deep connection to the community is your ace-in-the-hole. Try working with those top selling realtors and you’ll be amazed at how much they can achieve and how well they can protect your interests.

3.    Real estate agents get to set their own schedule.

While it’s true that local real estate agents don’t need to work the typical 9-5 schedule, it doesn’t mean they can work whenever they want. Realtors® have to work around the schedule of their clients. If the client works all day, that means the agent needs to make time in the evening. Because of this setup, agents also tend to work more hours during the weekend.

4.    One agent is just as good as the next

Lots of people tend to think that ‘agent’ is a generic term and that all of them are the same. Nope. There’s a big division between a great local agent and someone who slacks. 

The best real estate agents can help you save loads of time and money. Never settle for the first one you find on any realtor directory. While it’s nice if you find an agent that’s a member of the National Association of REALTORS®, you also need to consider an agent who aims to keep you out of trouble and protect you. Check out the reviews online. Read them. 

5.    You can save money by not hiring an agent.

When you’re looking into the commission cost, you might think that not hiring an agents and brokers will save you money. At first sight, this might be true, but not altogether. You can actually save time and money when you find a competent agent.

Your agent is there to make sure that your house is priced properly. Without the right knowledge from your real estate broker, you could list your house way above or below its true value. By using the leverage your agent offers, you can maximize your chance in capitalizing on your investment. 

Real estate agents can also help you get the paperwork filled out properly. Without one, buyers and sellers can end up in a situation you didn’t sign up for. Doing real estate transactions with an agent who aims for the best results will save you priceless amount of time.

6.    Agents get huge commissions

As much as realtors want to believe this myth too, real estate isn’t an easy way to get rich. Most people assume that agents pocket the entire commission. Nope, that’s not true. 

Know that the seller pays for the commission. The commission is split into four: Two agents and two brokerages. The brokerage commission isn’t set in stone because sellers can negotiate the rate. 

Also, you need to note that there’s no such thing as a real estate agent salary. They are paid in a commission when they sell a property. 

 

BOTTOMLINE

Realtors® are in a high-risk and high-reward kind of industry. Sometimes they lose big, sometimes, they win big. As there are no salaries in real estate, it means that an agent has no guarantee to be paid. 

All of those times send searching for homes, driving to showings and attending meetings can be good for nothing. Having a real estate agent career also means that your earnings heavily rely on the current market conditions. 

These 6 most common myths about real estate agents are just some of the countless misconceptions about them. If you know an agent or two, it pays to keep in mind that these professionals represent their clients with the best interest--- even without a sure win. That’s real dedication.

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John Cunningham

I'm Phoenix real estate jedi-master Johnn Cunningham with eXp Realty. I'm helpful, eXperienced, and totally on it when it comes to online digital real estate marketing. I'm also a husband, dad, backpa....

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