Real estate is a confusing space for most, and what makes it more complicated are the myths that surround the industry. Luckily for you, we’re here to break down the biggest Four Myths about working with buyer and seller agents.
- Agents get a 6% commission, no matter what
Most people assume that their agent is pocketing the entire commission. That would be nice, but it’s just not accurate.
Most of our clients are shocked to find out that our real estate agents don’t pocket the entire commission. The truth is that the seller pays the commission and then gets split four ways which go to the two brokerages and the two agents.
Also, brokerage commission isn’t fixed, sellers can often negotiate how much commission is divvied up. Also, PC275 sells homes for as low as 2.75% total commission which is a great way for you to save more!
- Once you start with an agent, you’re stuck with them
It is true that you do sign a contract with your agent and their brokerage, but such contracts usually have terms that include a certain time period. The industry standard is usually 6 months to 1 year. Depending on your contract you may be stuck with the realtor but often, if you ask your realtor to release you from the agreement early they will be okay with it.
However, buyers are rarely under a contract because buyer’s agents often work for free until their clients find a home. The timeline for when a client finds their dream home varies—and in fact, sometimes they may never find one…which means the agent never gets paid.
It is important for you to do your research before you commit to an agent, read reviews, check their socials and more. You want an agent that gets YOU so that you enjoy the entire process.
- You Can Do It on Your Own
Technology has never been better, and we acknowledge that you can do almost everything from your smartphone. However, we don’t recommend buying or selling your home from your phone. There are a lot of things that can go wrong, including accepting a way lower offer or spending too much on a home. Also, a lot of buyers won’t be brought to your home because often agents don’t like to work with people selling on their own.
- All Agents are Equally as Great
Many people think all agents are the same and that is a huge myth.
Real estate is like anything, just like teachers and doctors, there are good and bad real estate agents. You want to find an agent that connects with you, understands you, and is motivated to save you the most money.
We know how important buying a home is, and we are confident that you will love our team of professional, passionate and friendly realtors.
Please contact us today to learn how you can sell for as low as 2.75% total commission!