Top 4 Myths About Realtors®
Finding the right Realtor® to sell your home can be a challenge. When you begin your search, these Top Myths about Realtors® are important to keep in mind.
“All Realtors® are the same.”
This is one of the largest myths in the Real Estate industry that we come across often. Not all Realtors are the same. Not all Realtors are the same. Not all Realtors are the same. We have to repeat it just so that you are aware how crucial this statement is when selling your home. A good, respectable Realtor will be there to answer your questions, walk you through selling or buying your home, explain the process, and communicate with you at appropriate times. In your search for the right Realtor, you’ll come across several different types. There are the hands-on real estate agents, the disappearing agents, the discount brokers, and agents who wine-and-dine you just until you sign a contract. Each agent works in his or her own way, and that’s good, but you should always know you are being taken care of, your concerns and comments are being addressed, and that your agent is fighting for you, with your best interest at heart – not just the money in his or her pocket. It's also important to know that a real estate agent is not a substitute for a Realtor. A Realtor is a member of the National Association of Realtors®. Realtors adhere to a strict code of ethics, and it's important to know who is a real estate practitioner and who is a member of the Association of Realtors®.
“We just have to wait for the right buyer!”
Pricing a home correctly is one of the most important parts of selling your home quickly and affordably. If you have a Realtor that’s in it to line his or her pockets, they will be more likely to price your home incorrectly. It’s understandable that you want the most money for your home: there are emotions and memories involved that might cloud your judgment and what you value the home to have. An intelligent Realtor will have comps available, be able to assess the value of your home-based on location, condition, and work that still needs to be done (if any). Waiting for the “right buyer” to see the value in your home that you do might take a while, which is why we recommend pricing properly at first. When a home is priced properly, you’re more likely to get above asking (if the market is good), because more offers will come in and see the value. Remember what Warren Buffett said - Price is what you pay, Value is what you get.
“You don’t even do anything!”
Where do we even begin with this one? We had someone call into the office the other day and speak to one of our agents, and her mind was set on the fact that agents don’t do anything more than place a sign in the yard and answer phone calls. This is huge! While the sign in the yard and answering phone calls are important, quality Realtors will do much more than that. They’ll be in your corner during negotiations. They will price your home properly to sell for top dollar. They will teach you about the selling and/or buying process. They will complete all paperwork necessary (which can get dicey, as if they miss something, it could leave them – and you – liable). They will market your property – meaning, they will go the extra mile, and instead of posting on the MLS and leaving it, they will think creatively and innovatively in order to give your home maximum exposure.
“The broker down the street will give me ____, why won’t you?”
The discount broker. The same woman who called to say that Realtors don’t do anything also mentioned that she met with a Realtor who was willing to give her a discount on his commission. This is what sparked her tirade – we aren’t the type of group to give discounts on commission or otherwise (there are situations that call for it, of course) because we feel that we do the best job possible. What we end up telling clients is, if you approach an agent and ask for a break on commission and they give it to you immediately, what will they do when your house goes under contract? Will they say “yes, that works” to a low offer? An agent who takes discounts might not fight for you in the negotiation stage of your house and that’s a problem. Agents are supposed to get you the most bang for your buck, so to speak, and fight to help you get the money you deserve for your home. It’s a large investment and it should be treated as such. We typically don’t give discounts because we work hard to help you walk away with a larger net value.
These are the top 4 myths that we run into in the real estate industry regarding Realtors®. The bottom line is that we want you to find an agent that will be an agent for you. We want you to have a great experience selling your home. It's stressful enough, wouldn't you like an agent who will try to ease the amount of stress you feel? It’s your equity. It’s your money. Do you want someone who isn’t going to treat you with respect every step of the way?
Feeling stressed? It's time to call the Realtor!