Allow me to debunk some very strange tales you might have heard about Realtors:
#1 Our Commission Is Set in Stone
First of all, if you’re buying a home, you don’t owe your agent any commission. Yep, you read that right. The agent’s fee to buy a home is free for the buyers. This is because the buyers’ agent is paid a percentage of the listing agent’s commission. So, in essence, you only pay your agent a commission when you’re selling a home – not buying. On the seller’s side, you can negotiate the listing agent’s commission up front. But the standard commission rate is usually between 5% – 6%, so plan on budgeting for that amount.
#2 Out Of Town Agents Are Just As Good
Some buyers want to use a family member or friend as their agent. But that’s never a good idea unless they are an area expert. Ultimately, you want an agent who really knows the community and has lived in its vicinity.
#3 Agents Will Say Anything To Close A Deal
A good real estate agent’s success is based upon one thing: their reputation. And their reputation is based on their ability to deliver excellent advice and service to both sellers and buyers. In fact, we have a fiduciary duty to do what’s in the best interest of our clients. So we’re legally bound to tell you the truth. If you’ve hired an agent who’s breaking that promise, run!
#4 You’re Stuck With Your First Choice
Even if you’ve signed an agreement with an agent, they have to release you from that agreement, if you ask them to. Of course, there are rules and legalities around contracts. But most of the local laws favor clients, not agents. So be sure to hold your agent accountable, and if they refuse, leave!
#5 You Should Pick The Busiest Agent In Town
In theory, if they’re busy, they should be the best, right? Not so fast. The busiest agent is just that: Busy. Chances are, they have a long list of clients, which may mean that they can’t give you the personalized attention that you deserve. Instead, choose an agent with the personality that fits yours, is an expert in the community, and has the time to devote to you.
If you’re thinking about making a move (or know someone who is), I can help! Let’s chat!