5 Myths of Real Estate Agents

Do you need one? Do they keep the whole commission? Let’s set the facts straight.

Buyers and sellers often enter the market with misconceptions about real estate agents – how they work, how the process works, and what the relationship is all about.


You Need a Real Estate Agent

The truth is, you can actually sell your home yourself, with no agent. You may be excited to save the commission money but selling your property on your own can be extremely challenging. Hiring an agent will save you a lot of hassle, stress, and give you piece of mind. They’ll easily be able to distinguish legitimate buyers, negotiate on your behalf, and sift through all the legal jargon that comes with this type of transaction. You’ll feel very confident when selling your home, knowing your agent has had countless successful sales, is available to answer any intimidating questions, and will look over all the final details.

They Only Care About Selling You A Home

When you hire a real estate agent, they go above and beyond selling you a home. They will also ask you about your long-term goals and help you find the ideal type of neighbourhood you want to live in. Do you enjoy living in the suburbs, with green space and a family community? Would you prefer living in the heart of the city, close to transit lines and a gorgeous skyline view? Or would you like a combination of both? A real estate agent is extremely knowledgeable on different neighbourhoods and will work with you to find the perfect home to suit your lifestyle.


Real Estate Agents Make a Lot of Money

This is one of the most common myths, that just because they sold an expensive home, real estate agents made a huge commission. What most people don’t know is that agents split the commission with the buyer’s agent. After this, the brokerage may also take a cut depending on the arrangement they have with the real estate agent. Not to mention, agents pay for their own marketing expenses. Video tours of the property, social media, websites, digital marketing, print materials, and open house events are all their responsibility. At the end of the day, real estate agents are left with a fair commission.

Real Estate Agents Will Do Anything To Make A Sale

Real estate agents tend to have a bad reputation for saying or doing anything to make a sale because only then do they receive their commission. While there are a few agents who may demonstrate this kind of behaviour, most agents are incentivized to hold themselves to a code of ethics with their clientele. Why? Because real estate relies on referrals, and no client wants to send their friends and family to a pushy salesperson who will manipulate them to make a sale. Whenlooking for a real estate agent, it’s crucial to find a person who’s trusting and has your best interest at heart. Majority of the time, you will have an enjoyable working relationship with your real estate agent.

All Real Estate Agents Are the Same

Just as with any sales job, no two real estate agents are the same. They may work for the same brokerage, discuss the properties they’ve sold, and deliberate over the housing market; however, these agents are completely different. They have distinctive presentation styles, sales approaches, and creative abilities. One agent may focus more on staging the property while another puts more energy into their social media presence and marketing materials. Like any industry, you want to find the perfect agent when you are buying or selling your home, one that you feel comfortable with, and who understands exactly what you’re looking for