Real estate agents do next to nothing and just collect those big commissions, right? Well, no, that’s pretty far from the truth. But it’s what a lot of people think and is a good illustration of the misconceptions that abound about real estate agents. The fact of the matter is that agents do a ton of work when helping people buy or sell real estate, and they earn every bit of the commission they get. Let’s dig a little deeper and take a look at 5 common misconceptions about real estate agents in Olympia.
1. They’ll Say/Do Anything to Close a Deal
Maybe the top misconception about real estate agents in Olympia is that they are in it only for the commission and so will say or do just about anything to close the deal – and then move on to the next commission-producing client. There may be a few who operate like this, but the vast majority do not. If they did, they wouldn’t be in business long and wouldn’t have a livelihood.
“Any agent worth their salt will be honest with a client. [Agents] are held to a very strict code of ethics, and many rules and regulations. Many people believe this myth because agents don’t get paid until ahome closes, so they assume that the agent will say anything to make the sale happen faster so they can get paid faster.” But the fact is agents “want to do what’s best for [their] client.”
In fact, agents have a legally binding fiduciary duty to their clients – that is, they are required by law to look out for clients’ best financial interests. Besides that, though, most of them are true professionals who take pride in their work, in doing the best job possible. And they also, like any professional service provider, want recommendations from satisfied clients.
2. Their Job Is Easy
A lot of people really believe that real estate agents in Olympia have an easy, cush job – that they spend an hour or two showing a couple of houses and then rake in those hefty commissions. Not by a long shot.
Real estate agents in Olympia and everywhere else across the country have to go through extensive education and training, as well as rigorous testing to be certified. And then there is the multitude of tasks the job requires, many of which have profound legal ramifications.
Just consider: “On a daily basis, real estate agents have to worry about clients backing out, making sure they have enough business to make the rent next month, and paying for out-of-pocket expenses like marketing and travel. The real estate market is always changing and so are buyers and sellers. Unforeseen circumstances like a market crash, environmental disasters, loan rejections, clients changing their mind, and global pandemics . . . make [an agent’s] career stressful and unpredictable.”
Agents also have to deal with difficult clients and ensure that clients are happy. To find out more about all the things an agent can do for you (whether you’re a buyer or seller), contact a Olympia agent (208) 353-3176.
3. They Get Perks/Kickbacks for Recommending Certain Providers
Another common misconception about real estate agents in Olympia is that they receive some kind of perks for guiding you to certain providers within the industry. No, they don’t get anything out of it. It’s just another part of agents looking out for clients’ best interests and ensuring they get the professional assistance they need.
“The belief that [agents] try to push a specific lender, home inspector, or repairman is partly true. But the fact is, it’s perfectly acceptable for professionals to recommend someone they’ve worked with in the past that provided good results. Any good business person would do the same,” especially when striving to ensure clients get the best service possible.
Here’s what industry experts have to say on this: “Buyers need to be aware during the buying process that when their [agent] recommends someone to do business with, it’s because they believe that person will provide quality work at an affordable price. No client is by any means required to work with someone that they don’t feel is a good match for them or won’t be able to provide the best service possible.”
4. Agents Are All the Same
A fairly widespread misconception concerning real estate agents in Olympia and those elsewhere is that they are all pretty much the same, that one is as good as another. But you wouldn’t think that about your doctor or your auto mechanic, would you?
As with the people in any profession, there are good ones and bad ones, experienced and inexperienced, the merely adequate and the superstars. “Every agent brings their expertise, and while some are good at what they do, some can turn out to be really bad at their job. You need to be wary when selecting a real estate agent.”
Ultimately, most agents are good at their jobs, but some stand above the rest. Discover more about who those agents are at (208) 353-3176.
5. You Don’t Need an Agent to Buy/Sell a Home
Many people believe they don’t need an agent to buy or sell a home. They don’t. FSBO deals are done every day across the country. But without an agent, a trained professional who knows the business inside and out, you’re taking a big risk in terms of your money and time.
People choose not to use real estate agents in Olympia because they think the “real estate process may seem simple. Why pay for a service that you can just do yourself? That sounds like a simple answer, but buyers and sellers will quickly find that they’ve bitten off more than they can chew when it comes to the many steps to closing a real estate transaction. Hosting open homes, negotiating closing costs, scheduling viewing appointments, working with a mortgage broker, and so many other factors go into the real estate process. Many of these steps can be made significantly easier with the help of a real estate agent.”
Ultimately, agents are valuable, trained professionals who seek the best for their clients and are definitely worth their commissions. And if you’re buying or selling a home, you likely want the best you can get. For top-notch real estate agents in Olympia, contact us today at (208) 353-3176.