Common myths about real estate agents

Many people have misconceptions when it comes to working with real estate agents. When venturing into a real estate transaction and selecting an agent, it all comes down to building relationships.

As with differing transactions, agents are often diverse and may excel in varying aspects of the real estate process. From strong negotiating skills to excelling in advanced technology, realtors are professionals with a common goal, which is to guide you through the process with ease and professionalism.

Here are a few common myths that people harbor about real estate agents:

Myth No. 1: The “local neighborhood” agent is always best.

In today’s world of advanced technology, local marketing has been usurped by the prevalence of ubiquitous Web sites. If selling a home, your agent should have the ability to market to a wide audience. Increasing the buyer pool may conversely diminish the overall market time. Interview agents from varying areas and discuss their methods of marketing, their experience and areas of expertise.

Myth No. 2: I should hire the agent who quotes the highest list price for my home.

Your home may be worth every penny that is quoted, however this should not be the primary criterion in which you hire an agent to represent you. Market knowledge, experience, and establishing a connection will most likely provide you with better results. When selling a home, a knowledgeable realtor will research the market and examine comparable sales, providing a range of realistic values. Keep in mind that this value is an estimate.

Myth No. 3: Working with numerous real estate agents will increase my odds.

Establishing a good working relationship with one realtor exclusively may actually increase your chances of your real estate expectations being met, enabling the agent to better understand your needs. Agents are typically playing with the same deck of cards when it comes to inventory. Unless you have signed a buyer-broker agreement with an agent, you are not required to utilize one agent exclusively. However, working with a single agent is the best way to establish the trust and respect that is so important.

Myth No. 4: Realtors don’t do anything I can’t do on my own.

While it is possible to buy or sell a home on your own, the truth is that the business of real estate can be complicated as well as time consuming. With real estate laws and regulations constantly changing, realtors are trained and are required to complete continuing education hours in order to be well-versed in a field that is constantly shifting.

Agents have far more knowledge regarding market trends, contracts, and the overall process and are in place to provide direction and protection. Home inspections and surveys can be done on your own, as well as negotiating a deal to buy or sell a home. However, realtors are skilled to do this and offer experience-based expertise. As a result utilizing a realtor may save you time and money and make your life less complicated throughout the process.

Myth No. 5: Nationally known offices offer superior service than smaller boutique offices.

Many people believe that selecting a larger nationally recognized office will ensure a great service. There may be some legitimacy to this; however, the smaller offices may offer a heightened level of service and agent accessibility. In general, finding a successful agent isn’t all in a company name, it is the professionalism, service and experience the agent has to offer.

Until next time … capture your dream!

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619-990-4631 or at ronmetro@cox.net. DRE License No. 01865841.