Nine Popular Myths About Real Estate Agents That Aren’t True

We all know at least one RealEstate Agent whom we have used for buying, selling or renting a property. Our perception about the stereo-typed Realtor is probably because of this interaction or probably due to the depiction of one in television serials or movies. However, these assumptions are not always as real as they seem and are far from reality. It’s time to clear the air about these myths that have been around for years......

Myth # 1- Realtors earn money the easy way

This is completely untrue as there is nothing like easy money to be earned in any profession and definitely not real estate. This is a perception created by people who haven’t seen the hard work that goes into earning income as a realtor. There are times when a real estate professional has to face uncertain times, spending time on a project that may never materialize. They don't get paid for showing properties - they get paid only when a deal gets done

Myth # 2- Magicbricks or 99acres is more reliable than them

With the plethora of websites offering quick, easy and hassle-free property listings, many of us feel they are better placed in terms of valuation and availability of the property. However, most of these data end up confusing the customer and the reliability of these listings is a big question mark. Since he always has his ear to the ground, your realtor will give you are a far better market assessment of the property in question or even deliver the best valuation for your sale.

Myth # 3- Realtors are privy to massive commissions

Realtors are seen as individuals who are rolling in money due to the huge commissions they earn after every property deals. Even though this may be true to a certain extent in a few cases, there are large overheads and expenses to be taken care of and this eats away a huge chunk of the moderate commissions they earn. Real Estate is just as real as any business and in inflationary times like now, its expensive to live.

Myth # 4- One can manage property transactions without realtors

A large section of buyers and sellers feel that they can do away with the services of a realtor and save a large chunk of money for themselves. Imagine yourself running around looking for available property, searching for property online, meeting the owners, negotiating the price, checking the neighbourhood etc. The realtor is aware of all the advantages and disadvantages of a particular property and dabbles in legal terms with ease. 

Myth # 5- Realtors cannot be trusted

Unfortunately, realtors have been grouped along with other unscrupulous “businesses” and this has tarnished their image to a large extent. The unorganized section of the real estate business has also contributed to this but there are many professional and trustworthy realtors who run their business in a transparent and ethical manner. This balances the scene a lot and has brought a lot of respect and built the customer’s confidence too. Real Estate Associations like The Association of Real Estate Agents (AREA) are powerhouse of ethical & knowledgeable Real Estate Consultants who can deliver the best services and ensure peace of mind for your complex realty deal.

Myth # 6- Real estate agents are an uneducated lot

Due to the unorganized manner in which real estate business is largely conducted, it is perceived to be filled with individuals who have failed to secure a proper education or do not have any other career option. However, with growing awareness, realtors are now into a full-time business and acquire the necessary educational degrees and certificates. Constant training programs coupled with ongoing classroom education at The Association of Real Estate Agents (AREA) ensures that your Realtor is really equipped to do your deal. The concept of an uneducated agent is proving to be an exception nowadays than the rule, which augurs well for the industry and its customers.

Myth # 7- The more you pay, the more a realtor earns for himself

A realtor is only interested in ensuring his customer gets a home of his choice or is able to sell his home for a realistic price. It is a myth that real estate agents push for higher priced homes so that their commissions go up correspondingly and they earn more. Any sensible realtor will want to facilitate a transaction than a so-called ‘high-value’ transaction. His commissions will not improve dramatically if he gets his customers to pay a couple of lakhs more than the actual market value.

Myth # 8- Realtors are part-timers who cannot get a proper job

Ask anyone to describe a real estate agent and they will paint the quintessential image of a part-time operator or a bored-to-death housewife or a loser who hasn’t managed a job for himself. However, this is absolutely false as the business is full of qualified, full-time realtors who take their profession as seriously as any doctor, lawyer or chartered accountant would. Realtors are responsible family bread-winners, both male and female, and have given a lot of respect and professionalism to this line of work

Myth # 9- Realtors just want to cut the deal and vanish

Of course, it’s true that realtors want your business but which true-blue businessman doesn’t? A professional realtor aims for a lifetime relationship and is keen to forge ties forever. All that they want is the assurance that whenever a customer needs property related service, they should think of him and no-one else. That does not seem too much, does it?

It all boils down to selecting the right person for the right job and pay the right fees. So always select your Realtor and don't be afraid to ask him his credentials, his market expertise and speak to his past clients. Choose Wisely and thou shall get an easy walkthrough of your transaction.

After all, a Realtor dons many hats - MatchMaker, Wedding Planner and .......