Top Misleading Myths About Real Estate Agents
Real estate is an industry about which not everyone knows. Thus, there are so many myths and misleading information associated with it. Someone who has invested in real estate about 20 years ago may think that the industry is still the same. However, the real estate industry undergoes constant change.
When you start selling and buying real estate, you may be surprised to find out that so many facts are just myths. Don’t worry! We have debunked some common myths associated with top-rated real estate agents.
Myth 1 - Real Estate Agents Makes Tons Of Money
It is one of the biggest misconceptions people have about top realtors. The dealer pays the relator fees for both the buyer and seller. It is about 6% of the sale. Once the broker takes their fees, this commission is divided between both the real estate realtors. Moreover, sometimes a real estate agent has to pay for the marketing of the property from their pocket.
We agree that there is a potential for unlimited salaries in real estate; however, it depends on how many hours, days, and weeks the agents put into their work.
Myth 2 - A Real Estate Agent Will Even Give False Information To Sell The Property
Many people think that an agent will say anything and bend the truth to make a sale. A real estate agent wants to earn a profit; however, they won’t do it at the chance of cheating their clients, getting sued for it, or losing their license.
The top and successful real estate agencies are honest with their clients. They follow strict ethical codes, rules, and regulations. They strive to meet the requirements of their customers.
Real estate agencies know happy clients mean more referrals and business.
Myth 3 - Real Estate Agent Can Exhibit You Any House
We are sorry to say, but the statement shared above is false. As a home buyer in Chicagoland Area and Surrounding Suburbs, you must be under a contract with the real estate agencies to show you properties. A listing agent for the seller is not obligated to show a listing to the buyer if they are represented by another agent; unless requested by the agent.
Myth 4 - A Buyer Only Gets Pre-Approved If They Find The Home
One of the biggest misconceptions home buyers have is that they will only receive the pre-approval if they have found their dream home. As a buyer, it is recommended that you must get pre-approval before you begin your home search. It will help you decide what you can afford and make a wise decision.
You may short-list a house, write an offer on it, and may then get denied by the mortgage lender. To save yourself from this embarrassment, get pre-approved.
Bottom Line
You might have a misconception that real estate brokers only care about their business. They are your friend who will help you find the home of your dreams or sell your property at a profitable price. KM Realty Group is a team of leading Chicago real estate professionals. They will make your home selling and buying experience pleasant and hassle-free.
