The 7 Most Misunderstood Facts about Real Estate Agents
The real estate agents manage millions of properties all over the world. These are the people who let you buy or sell your homes. When it comes to buying or selling a property both commercial and residential, the real estate agents are expert. Many people think that without these letting agents, property buying and selling might not be possible, but there are a few things which are misunderstood. Here is a list of seven most misunderstood facts about the real estate agents.
- The Real estate agent is late for the inspection
It is not true at all. Despite the fact that many people think these agents are always late for meetings or inspections, it is important for them to be on time. A good reputable real estate agent is always on time. The agent knows that if he is late, he may not get the deal. Punctuality is essential for these agents. A successful agent is always on time, not only for meetings but also for inspecting the property. The agents know the importance of getting the deal. They know how to make sure their reputation is not damaged. It is why they are always on time. The estate agents Hampstead understand the importance of the relationship between them and the client.
- The agent will make more money if you sell at a higher rate
It is another great misconception about the real estate agents. Many people think that if they take help from the real estate agents to sell a property, the profit margin for the agent depends on the amount of property. Many people think that if they sell the property for a $100,000 the agent will make a $1000; if they sell the property for $200,000 the agent will make double the profit. It is wrong. No matter for what price you sell your property, it will not affect the profit for the agent. His paycheck will remain same; whatever you sell or buy for a million dollar or ten.
- You will get more profit if you pay your real estate agent a low commission
It is also false. If you find an agent who tells you that you will make more money because he offers cheap rates, he is lying. He only says that he may not get enough business.
- The agents hide information from their clients
It is not true at all. An expert real estate agent never hides any information from its customers. An agent knows that if he protects the information it will not be good for his reputation. For the agents, it is vital to disclose any information about the property. Hiding information is illegal. The agent can face the court if he hides the information illegally.
- All real estate agents earn huge salaries
Although the real estate business is fruitful, it doesn’t mean that each and every agent you come across makes millions. It is one of the most common misconceptions about these agents. Many people think that it is only the profit they make, whereas there are costs for running a real estate business. These expenses include insurance, marketing costs, the rental of an office space, supplies, etc.
- Agents show you the home immediately after you request
It is not true at all. The real estate agents are not free all the time. If you ask to see a property, they will schedule a meeting and then let you visit the property. Many people think that if the agent doesn’t take them to the property straight away, he is not a good agent; they are wrong.
- Agents receive bonuses
Many people think that the inspectors, the affiliated people or any other associates give the agents bonuses. It is not true. They don’t receive any gifts or vouchers from anywhere at all.
These are the seven most misunderstood facts about the real estate agents. The real estate agents obey the same rules and regulations to run the business just like any other business person. There are no extra perks for the real estate agents. Their job is more hectic than many other highly paid jobs. Still many people think a lot of things which are false.