{"id":56,"date":"2018-12-21T21:38:51","date_gmt":"2018-12-21T21:38:51","guid":{"rendered":"http:\/\/theheartofarizona.com\/?p=56"},"modified":"2018-12-21T21:44:35","modified_gmt":"2018-12-21T21:44:35","slug":"dont-believe-these-5-myths-about-real-estate-agents","status":"publish","type":"post","link":"https:\/\/theheartofarizona.com\/?p=56","title":{"rendered":"Don’t Believe These 5 Myths About Real Estate Agents"},"content":{"rendered":"\n\n[et_pb_section fb_built=\u201d1\u2033 _builder_version=\u201d3.11.1\u2033 background_image=\u201dhttp:\/\/theheartofarizona.com\/wp-content\/uploads\/2018\/12\/Screen-Shot-2018-08-06-at-2.28.26-PM.png\u201d custom_padding=\u201d171px|0px|171px|0px|true|false\u201d][et_pb_row _builder_version=\u201d3.11.1\u2033][et_pb_column type=\u201d4_4\u2033 _builder_version=\u201d3.0.47\u2033 parallax=\u201doff\u201d parallax_method=\u201don\u201d][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=\u201d1\u2033 _builder_version=\u201d3.0.47\u2033][et_pb_row use_custom_width=\u201don\u201d custom_width_px=\u201d919px\u201d _builder_version=\u201d3.11.1\u2033 background_size=\u201dinitial\u201d background_position=\u201dtop_left\u201d background_repeat=\u201drepeat\u201d][et_pb_column type=\u201d4_4\u2033 _builder_version=\u201d3.0.47\u2033 parallax=\u201doff\u201d parallax_method=\u201don\u201d][et_pb_text _builder_version=\u201d3.11.1\u2033 header_font=\u201dNeue|700|||||||\u201d header_font_size=\u201d47px\u201d header_line_height=\u201d1.4em\u201d]

Don\u2019t Believe These 5 Myths About Real Estate Agents<\/h1>\n

Do you need one? Do they pocket the whole commission? Let\u2019s set the facts straight.<\/p>\nBuyers and sellers often enter the market with misconceptions about real estate agents \u2014 how we work, how the process works and what the agency relationship is all about.\n\nIt\u2019s helpful to point out, without getting too far into the weeds, that in any one real estate transaction, there are most likely two agents: one for the buyer and one for the seller.\n\nHere are five myths (and five truths) about working with both buyer\u2019s and seller\u2019s agents.\n

1. Agents get a 6 percent commission, no matter what<\/h2>\nMost people assume that their agent is pocketing the entire\u00a0commission<\/a>. That would be nice, but it\u2019s just not accurate.\n

Truth<\/h3>\nFirst, it\u2019s helpful to know that the seller pays the commission, and they split it four ways: between the two brokerages and the two agents.\n\nFinally, the brokerage commission isn\u2019t fixed or set in stone, and sellers can sometimes negotiate it.\n

2. Once you start with an agent, you\u2019re stuck with them<\/h2>\nIf you\u2019re a seller, you sign a contract with the real estate agent and their brokerage. That contract includes a term \u2014 typically six months to a year. Once you sign the agreement, you could, in fact, be \u201cstuck\u201d with their agent through the term. But that\u2019s not always the case.\n

Truth<\/h3>\nIf things aren\u2019t working out, it\u2019s possible to ask the agent or the brokerage manager to release you from the agreement early.\n\nBuyers are rarely under a contract. In fact, buyer\u2019s agents work for free until their clients find a home. It can be as quick as a month, or it can take up to a year or more. And sometimes a buyer never purchases a house, and the agent doesn\u2019t get paid.\n\nBefore jumping into an agent\u2019s car and asking them to play tour guide, consider a sit-down consultation or a call, and read their online reviews to see if they\u2019re the right fit.\n\nOtherwise, start slow, and if you don\u2019t feel comfortable, let them know early on \u2014 it\u2019s more difficult to break up with your agent if too much time passes.\n

3. It\u2019s OK for buyers to use the home\u2019s selling agent<\/h2>\nToday\u2019s buyers get most things on demand, from food to a ride to the airport. When it comes to real estate, buyers now assume they need only their smartphone to purchase a home, since most property listings live online.\n

Truth<\/h3>\nFirst-time buyers or buyers new to an area don\u2019t know what they don\u2019t know, and they need an advocate.\n\nThe listing agent represents the seller\u2019s interests and has a fiduciary responsibility to negotiate the best price and terms for the seller. So, working directly with the selling agent presents a conflict of interest \u2014 in favor of the seller.\n\nAn excellent buyer\u2019s agent lives and breathes their local market. They\u2019ve likely been inside and know the history of dozens of homes nearby. They\u2019re connected to the community, and they know the best inspectors, lenders, architects and attorneys.\n\nThey\u2019ve facilitated many transactions, which means they know all the\u00a0red flags<\/a>and can tell you when to run away from (or toward) a home.\n

4. One agent is just as good as the next<\/h2>\nMany people think of \u201cagent\u201d as a generic term and that all agents are created equal.\n

Truth<\/h3>\nA great local agent can make an incredible difference, so never settle. The right agent can save you time and money, keep you out of trouble and protect you.\n\nConsider an agent who has lived and worked in the same town for ten years. They know the streets like the back of their hand. They have deep relationships with the other local agents. They have the inside track on upcoming deals and past transactions that can\u2019t be explained by looking at data online.\n\nCompare that agent to one who\u2019s visiting an area for the first time and needs their GPS to get around. Some agents aren\u2019t forthright and might be more interested in making a sale. Many others care more about building a long-term relationship with you, because their business is based off referrals.\n

5. You can\u2019t buy a for sale by owner (FSBO) home if you have an agent<\/h2>\nIn a previous generation, sellers who wouldn\u2019t deal with any agents tried to sell their home directly to a buyer to save the commission.\n

Truth<\/h3>\nSmart sellers understand that real estate is complicated and that most buyers have separate representation. And many\u00a0FSBO<\/a>\u00a0sellers will offer payment to a buyer\u2019s agent as an incentive to bring their buyer clients to the home.\n\nIf you see an FSBO, don\u2019t be afraid to ask your agent to step in. Most of the time the seller will compensate them, and you can benefit from their knowledge and experience.[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n\n<\/body>","protected":false},"excerpt":{"rendered":"

Don’t Believe These 5 Myths About Real Estate Agents Do you need one? Do they pocket the whole commission? Let\u2019s set the facts straight. Buyers and sellers often enter the market with misconceptions about real estate agents \u2014 how we work, how the process works and what the agency relationship is all about. It\u2019s helpful […]<\/p>\n","protected":false},"author":1,"featured_media":58,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-56","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hannah-lusk","category-uncategorized"],"yoast_head":"\nDon't Believe These 5 Myths About Real Estate Agents - Hannah Lusk - The Heart of Arizona<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theheartofarizona.com\/?p=56\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don't Believe These 5 Myths About Real Estate Agents - Hannah Lusk - The Heart of Arizona\" \/>\n<meta property=\"og:description\" content=\"Don't Believe These 5 Myths About Real Estate Agents Do you need one? Do they pocket the whole commission? Let\u2019s set the facts straight. Buyers and sellers often enter the market with misconceptions about real estate agents \u2014 how we work, how the process works and what the agency relationship is all about. 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