Don’t believe these six myths about Real Estate Agents!
Everyone knows a real estate agent, whether it’s your uncle, neighbor, or step-cousin-in-law’s nephew. But do you actually know what they do? Here are 6 myths about real estate agents and why they are completely false.
Anyone can be a real estate agent.
Well, technically, this is true. Anyone can get their real estate license if they take the proper classes. BUT, not everyone can be a successful real estate agent. “You need to have drive and determination as well as a love for this business to succeed,” says REALTOR® Kristina Fernandez. “If you don’t have a love for real estate and are only doing it for the money, then you will crash and burn really quickly.”
Being a real estate agent is hard work. If you aren’t willing to put in the long hours and hard work, this probably isn’t the career for you.
Real estate agents barely do any work.
Think selling a house is easy work? Think again.
Your real estate agent does it all. “Real estate agents are part lawyer, part sales professional, part marketing professional, part financial adviser, part therapist (at times), part interior designer, and have no guarantee of ever being paid,” says REALTOR® Tom Zahalka. Each agent runs their own real estate business, which means that it is their responsibility to cover all aspects of that business.
Real estate agents get to set their own schedule.
It’s true that most real estate agents aren’t required to work your typical 9-5 hours, but this does not mean that they can “work whenever they want”. REALTOR® Mindi Kessenich says “ If someone is buying a house, that means they have a job to pay for that house. We have to work around their schedule.” If their client works all day, then the agent has to make time to meet them in the evening. This also means that most agents put in several hours over the weekend. Ask any agent when they’re done with work and their answer will likely be “never”.
All real estate agents are the same.
If you’re looking for an agent, don’t just pick the first one you find on Google. Real estate agents all have the same rules to follow, but they all have their own styles of getting the job done. It can be hard to tell an outgoing and ambitious agent from a lazy one based off of their profile picture. Take your time to sit down with a few different agents to see if you connect well and can see yourself working well with them. A good agent will make you their priority and will work hard to make you happy, so it’s very important to find someone you trust.
You can save money by not hiring an agent.
When looking at commission costs, it seems like you’d save a lot of money by not hiring an agent to help buy or sell your home. On the surface, this may be true, but there are a lot of ways that hiring an agent can actually save you time and money.
You agent makes sure that your house is priced appropriately. Without the access to extensive data and knowledge from your agent, you could list your house way under or way over the true value, which would waste a lot of time and money. According to REALTOR® Tom Zahalka, “ By utilizing the leverage of an agent, you’re maximizing your ability to capitalize on your investment.” Agents also help make sure that all of your paperwork is filled out properly. Even better, they can help you avoid and get out of bad deals. Without an agent, you could end up in a less-than-favorable situation and not even realize it.
Real estate is an easy way to get rich fast.
A career in real estate is what you make out of it. It’s a high-risk high-reward type of industry. What this ultimately means is that there are some people who win big and some people who lose big. The rest of the agents are sitting somewhere in between.
There aren’t salaries in real estate. In most cases, it’s a 100% commission based salary. If an agent is working with a buyer, they aren’t guaranteed to get paid. This means that all of their time spent searching for houses, driving to showings, and sitting in meetings could all be for nothing if the buyer decides to not buy a house. An agent’s earnings are also heavily reliant on the market conditions. Some years may be crazy busy for an agent while it may be a struggle to close 5 deals in the next. If you put in the work, a career in real estate can pay off very well for you, but it will not be “easy” in any way.