We all know at least one Real estate agent whom we have used for buying or selling 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 and we shall do this in course of this article.
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 for a project that may never materialize.
Myth # 2- Magicbricks or 99acres is more reliable than them
With the plethora of websites offering quick, easy and hassle-free property transactions, many of us feel they are better placed in terms of valuation and availability of property. Since he always has his ear to the ground, your realtor will give you are far better market assessment of the property in question.
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.
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 bought a lot of respect and built the customer’s confidence too.
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 proper education or do not have any other career option. However, with growing awareness, realtors are now into full-time business and acquire the necessary educational degrees and certificates. 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 any one 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 life-time 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?