Did you know that most people only buy or sell a house once every 10 years? Most of us don’t have a lot of experience with this milestone of adulthood. We form our opinions by watching T.V. shows or listen to stories from our parents or co-workers recent home buying experiences.
Most Real Estate falsehoods are passed around like chicken pox. They infect nearly everyone they come in contact with. Let us spread some truth around the common Real Estate myths that might leave you scratching your head.
The second common misconception in our 3 post series on Debunking Common Real Estate Myths is…
“You Don’t Need An Agent”
Buying a home can be a very intimidating and confusing process. This is true for veteran home buyers and especially true for first time home buyers. Agents understand the process of buying and selling homes, and will advise you properly on all your purchasing decisions.
Just imagine the kind of service you can get from a real estate agent with 20 years worth of experience. This agent will bring a complete negotiating system to the table to ensure you get the best deal.
But…Won’t I Will Get A Better Deal Working Directly With the Listing Agent?
With so much information available online today, many people think that they don’t need an agent. The role of the buyer’s agent was never solely about accessing listings. A good buyer’s agent has always had their feet on the street and keeps a finger on the market’s pulse. They know the comps and the other agents. They can track the buyer’s process and help uncover some of the unknowns about a particular house, an agent or the market in general so they can add an incredible amount of value simply through sharing their experience and knowledge.
Additionally, the seller is going to pay the commission whether or not there’s a buyer’s agent. There’s rarely any savings by going without an agent for the buyer. Instead, the listing agent simply makes double the commission. There’s no savings to the seller, either, when the buyer doesn’t have an agent.
But…The More You Pay for a House, The More an Agent Makes Right?
“Every dime more you pay for that house makes the agent more money, so don’t trust that agent.” This is a huge misconception. A good Real Estate Agent cares about their clients and wants to get them the best deal possible.
The difference between $300,000 and $310,000 is about $150 to an agent. The Real Estate Industry is based largely on referrals. The Agent would much rather have a satisfied client who will send referrals their way than an extra $150.
But…”For Sale By Owner” Will Save Sellers Money Right?
It is true that you may not have to pay commission. But there is a huge drawback to trying to sell your home yourself. You are probably not as well versed in the current marked as a good Agent. You don’t know the best ways to successfully market and advertise your home and you won’t have access to listings.
If you are able to get your home listed on the MLS and find a buyer, you will have a tough time in negotiations. If your buyer is using a buying Agent you will end up losing the money you wanted to save in the first place.
Buying or selling a home, haircuts, surgery, building a bookshelf from IKEA… there are many things in life that are best left to the experts. An accomplished and experienced Real Estate Agent will get you the best deal and make the process as stress-free as possible.
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