Things People Assume About Real Estate Agents That Aren’t True
There is a general perception about real estate – it is a profitable profession. Real estate agents are handy. Many individuals know a real estate agent close by or are probably related tone through a few distances of separation.
But there is a general view people both on media and pop culture have about real estate agents. Many assumptions have been adopted by the general public about real estate agents.
While these assumptions may be widely acclaimed, they are absolutely wrong.
In this write-up, we shall be looking at some of the things that people hold strongly about real estate agents that are not true.
Zillow seems better and accurate than they are.
Zillow gives an evaluation on properties but falsely. If Zillow gives correct and precise evaluations, it would have been much better and profitable.
A comparison with Zillow’s and other similar websites’ valuation real values, you will end up laughing out loud as the results will be so ridiculous and nothing to write home about. The truth most people fail to acknowledge is that real estate agents want to give you real values for your investments.
Then reality comes in and it looks as if it’s the opposite you are getting.
Always have confidence in your real estate agents in giving you an accurate evaluation of your properties. Do that more than do you with Zillow. Give them all your trust.
They get large commissions
The famous and widely watched shows about estate flipping and the Million Dollar listing have all succeeded in creating a wrong lasting impression in the minds of individuals that real estate agents are making a great amount of money. It’s unfortunate this is not true as reality shows.
Even real estate agents wish this was the situation.
A good case is the sale of the US media existing home which was put at a price of N234, 900 in December 2016. After the deal and the commission were split, the agent went home with N3500, excluding advertisement and other allied expenses.
This isn’t huge.
The deal is all they want.
This is wrong as real estate agents want business and seek to be your friendly estate advisor for life.
They want repeat businesses from you by providing advice and answers to your real estate questions and needs. They want you to have memorable and pleasurable experiences with them for a very long time.
They make more money by asking you to pay more for houses.
This is another wrong perception.
But if you actually find out the real amounts real estate agents real estate commissions, you will retract this false notion.
An agent will barely make N150 as a commission from an N10, 000 estate deal, which will not cover the gas expense in meeting appointments. It’s absolutely not true that an agent wants you to pay more for a house.
They easily make money
Many individuals for a very long time have always believed that real estate agents and easy money are synonymous. They hold on strongly to the opinion that real estate agents make easy money.
But in reality, it is not true. The only sets of persons that will hold on to such a belief are probably folks who have not tried their hands in real estate business.
Real estate agents practice the kind of work that is pretty difficult and unpredictable.
As a matter of fact, real estate business is uncertain as cases abound on time, sometimes running into several months, on a prospective deal that never materialized. The only aspect of this business that is easy is the reading of the softer side of it, which the general public does.
They are immoral
It is unfortunate that real estate agents have joined the class of individuals whom the public have wrong assumptions and questions about their honesty such as the lawyers, salespeople, and politicians.
The 2018 financial downturn escalated this wrong perception.
But the sweeping correction that occurred in the market saw the end of most untrustworthy agents in the business. What the public has failed to see in real estate agents is their true picture.
Actually, real estate agents are diligent, sincere and are just out there like other professionals to make a living legitimately. Like other professions, there are few bad eggs among them that destroy the positive image of the good ones.
Real estate is an unnecessary danger
Many have this notion that real estate agents are not needed and are a just only distraction to a better and more efficient system of sale of real estate.
But this is not true. To ascertain this, just trying selling your house by yourself and then you will discover the reality.
They are bored housewives or part-time workers.
Generally, people believe that real estate agents are bored housewives off who are trying to ease off the boredom for the female folk and part-timers for the male folk.
But the truth is that there are hundreds of thousands of male agents who are full-timers and diligent female agents who act as breadwinners for their families.
They are expected to show you houses when you are yet to be confirmed.
Yes, this is possible as there are few agents that will go ahead to show houses to prospects even before being confirmed and approved.
So, you can have access to a house pending your qualification.
This is not an ethical practice as a real estate agent is not expected to try this to any extent. Of course, professional real estate agents will never do this.
Ideally, you are to be qualified for the financing of a housing project as your ability to walk tall to the financial demands of the house will determine the possibility of the deal for you.
Agents who practice this ethical act are trying to save you time so that there won’t be cases of disappointment.
They are illiterates
There is a wide misconception about real estate agents that they are not educated.
This wrong notion usually gets on the nerves of real estate agents as they seem as derogatory. More so, it is not enough to say that many real estate agents have college degrees, some have even gone beyond that level by acquiring advanced degrees and they have adequate knowledge in being successful in the real estate exam.
The idea of an uneducated agent is funny as almost all real estate agents are educated but few are yet to get their licenses as a result of an inability to pass licensing tests.
Real estate portals are better than them
Many people think that real estate portals are better and more reliable than real estate agents. No thanks to the increase of available websites that offer wide ranges of listings. So, they believe they can save all the money by going with real estate portals.
But they never consider the hassle and stress involved in such a tedious action.
Also, such portals give wrong data which mislead the sellers. Real estate agents who are more informed give you real assessment for the property, thereby offering you true value for your decisions and investments.
One can do without real estate agents.
Many people believe that they can manage property easily without hiring the services of real estate agents.
They can do away with them, thereby saving a huge chunk of money in their pockets.
But they never consider the hassle and stress involved in such a tedious action. In reality, real estate agents are aware of the pros and cons of a deal and go into legal agreement with ease.