Top Myths About Real Estate Agents


Top Myths About Real Estate Agents

A number of misconceptions are floating around out there about real estate agents - how they work, how the entire process works and how they justify their commissions. The lines that we hear most often are that the agents cannot be trusted and that they are out there to take your money. However, experts say that you must check the facts before you start believing everything you hear.

Let's have a look at few common myths about real estate agents and debunk them to give realistic picture to the buyers and sellers both.

Agents Try to Grab Maximum Commission, No Matter What

Most of the people think that their agent tries to pocket as much commission as possible. It would be great, but it is not accurate. In Pakistan, real estate commissions are not regulated but on average, agents usually take 1% of the sale price. Few agents may reveal that they work on more commission but being a client, you can always negotiate. Also keep in mind that if you go for an agent who is ready to work on low commission to save money, you may likely to receive substandard services. Other agents may seem you costly but they will definitely work harder to get you a higher price for your property.

Real estate agents sell their own home for more money

Agents do not have so much time to waste, when all they want to do is sell their own homes. If they want to sell their own home, they can sell it right away without letting any seller know. After all, they understand the market better than any average home seller (who is in the market just to sell his one property). If your home is not being sold within a reasonable period of time after putting it on the market, it means it is priced higher compared to the value it offers.

Moreover, if they want to sell their own property, they can give the buyer a better deal than a buyer can get for any other property. After all, the person likely to be persuaded by a sales pitch, is a person who sells for living

Agents can say anything to close the deal

You may have met some agents, who lied to you. Take agent as a generic term but it does not mean that all agents are equal. Remember, a great agent can make an incredible difference to the deal, so never settle for anything less than that. They would not do anything that will hurt their reputation in the market and prefer practicing real estate honestly. They are very careful when it comes to client's trust and do not dissipate wrong information about the property.