The internet is a great source of information, but regrettably it’s also a major source for misinformation. Lots of claims about real estate agents can be found bouncing around the less scrupulous sites, but what is true, and what isn’t? Plenty of realtors make occasional mistakes, but often no successful realtor will jeopardize their reputation by lying to a client or breaking the law.
As an experienced realtor in Tallahassee Fl, a realtors reputation is worth more than any commission, but there’s an even more important point: the feeling one gets when helping a client sell or buy their home – and seeing the look on their face. There’s nothing better about being an agent than that! With that, here are three common and ridiculous myths about real estate agents that shouldn’t give you anxiety about hiring a realtor.
Real Estate Agents Make Big Bucks
This is a common myth, but the truth is that few agents would do it just for the income. It’s much more about helping people achieve their dreams than the money itself. Most agents make less than $36,000 per year, and around half the agents close no more than 4 deals in a year. Sadly, after paying all their own expenses, many realtors are lucky to break even.
Discounted Commissions Save You Money
If you pay less commission, that’s more money in your pocket, right? That’s not how it works in reality! The best agents don’t offer discounts – they are realistic about their expenses and spend what it takes to properly market your property. Poorly advertised real estate tends to have the final selling price substantially reduced, so a couple of percentage points in “discounted” commission is wiped out. Market exposure and familiarity with the local market is much more important than a small savings in commission.
Agents Get Kickbacks to Undercut Your Interests
This is one of the most absurd myths; since 1974, it’s been illegal to accept any kickbacks from anyone involved in the process. No real estate agent would put their license and reputation at risk for this, much less face the inevitable lawsuit.
