With do-it-yourself apps like Zillow, it might feel like buying a house is simpler than ever. However, real estate agents might still twist the truth. Do you know what to expect from your real estate agent?
What are common myths about real estate agents?
Although the process might seem murky, if you can understand your agent’s duties and abilities better, you can help to maintain realistic expectations.
The following are common myths about real estate agents and the truth behind them:
- Your agent will pocket the entire commission. When a seller pays commission, if there are two agents, the agent will split it between themselves and the brokerages.
- You cannot change agents once you begin the selling or buying process. Thankfully, this is not true. While it is easier in the earlier stages, there are usually ways to exit agreements at any point. Some buyers might only pay certain fees after they buy a home, not before.
- You really only need one agent. The seller’s agent will always represent the seller’s interests. If you rely on them, you could leave yourself vulnerable and create a legal conflict of interest.
- Any neighborhood agent will do. An experienced and extremely knowledgeable agent will know the history of individual houses, neighborhoods and markets within city limits. They will advocate for you and look out for common local issues that other agents could miss.
What about legal concerns?
Real estate agents are one member of the home buying team. For your legal concerns over property background, zoning, and other matters, you might have better luck with a real estate attorney. These professionals can handle legal matters and allow your agent to focus on you and the property.
If you can approach the home buying experience with knowledge and fair expectations, you have a better chance of a favorable outcome. While information may be readily available on house-hunting apps, it may take a team of human experts to help you find your home.