10 False Assumptions People Make About Real Estate Agents

 I like to share different stories and ideas form many other sources on the internet. This one comes from https://lightersideofrealestate.com/ by Lighter Side Staff. Let's see some of the more interesting assumptions people make about Realtors.

"1. They make “easy money”
HAHAHAHAHAHAHAHAHAH. The only people who could ever possibly make the case that being an agent is an easy way to make money are those who have never done it. It’s hard, uncertain work, with many instances of months wasted on a deal that doesn’t ever close. The only thing easy about it is reading the Lighter Side of Real Estate. "

I can tell you many times I worked for nothing to help get people's real estate problems solved. For example a client that had purchased a property from another agent needed help after it closed. The property's gas got turned off and there were tenants in the building. I personally spent 6 hours getting the utilities on for an international client. It was winter and cold so it needed to be done. I eventually got the gas on and had the building creating income for my client today.  

"3. Zillow is more accurate than they are
It would be wonderful if Zillow (and similar websites) were accurate in their home valuations, but if you compared their results to actual appraised values, in most cases you’d burst out laughing. Real estate agents want you to get as much money as possible for your house, but oftentimes reality gets in the way. Trust your realtor to give you a fair market assessment for your house…at least more than you trust Zillow."

Zillow is not very accurate on home values. Fair market value comes from homes in the area, not all homes like Zillow does. Is the home on a busy street, on the golf course. remodeled?  There is a lot to consider when you are getting a value on a home. A LOT! Agents are trained to understand values and give you the best assessment on what your home is worth. For example in Chagrin Falls I consulted a client to get $9000 higher than he wanted too on his list price . We sold it in 4 days! 

"4. They make huge commissions

The popular real estate flipping shows on cable, and Million Dollar Listing have given everyone the impression that real estate agents are rolling in the dough. Most real estate agents wish that this was true, but reality is much different. The median US existing home sale price in December 2016 was $234,900, which means after splitting the commission and paying their broker, an agent took home about $3500 on the transaction, not including all marketing and related expenses. As a monthly income, this adds up to about $40,000 per year. Not exactly huge."

Totally untrue and the hours that are needed to market and sell are way over 40 hours a week. You also have to give the broker a piece of the pie and you do have a lot of expenses as a Realtor. Even the Million dollar agents spend 5 to 6 figures selling a property in marketing. A great example is your vehicle. You put a lot of miles on them. That means you will have maintenance and go through vehicles pretty quickly. They are not cheap to buy in today's world, and an agent needs good looking vehicles. Dinners and weekends don't get me started.

" 7. They’re uneducated
This misconception really gets under most agents’ skin, because not only do many agents have degrees (and advanced degrees in quite a few cases), but the knowledge required to pass a real estate exam is substantial. There are many people who are unable to get their licensing because of an inability to pass the licensing tests, which makes the concept of an “uneducated” agent laughable."

Wow that is total fiction and we have tons of continuing education in Real Estate and in my case both being a Realtor in two states and marketing. Agents have to keep up with the market trends and why homes are selling or not selling. There are often sessions on how to sell a problem home. For example I market all my homes with my media company. There are many websites, blogs, software and Videos that I have to manage. There is  a lot to being a successful Realtor and it takes a lot of time learning it.

It's all called street smarts and that comes with 23 years experience. With only 10% of Realtors making it after 5 years shows the better agents that last after that. 

These are some of the things I picked up on this awesome article. Need an Agent that wants your business?

Call me (Brett) 216-703-5740 Fathom Realty or Whatsapp me to create the best real estate results for you.


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