The real estate industry can feel confusing to someone who is getting ready to buy a home. Do you have a long list of questions about the purchase and your interactions with a real estate agent? Too often, both buyers and sellers enter the real estate market with misconceptions and common myths about the services that are available. It is important that you learn about your options for working with a real estate agent, so you know what to expect regarding the way things work.
In many situations, there are two real estate agents involved in every transaction: the buyer’s agent and the seller’s agent. Regardless of whether you are buying or selling a home, these are a few common myths that come up:
Myth #1: Real Estate Agents Always Earn 6% Commission
While it is common for 6% in commission fees to be subtracted from the sale of the home, this number isn’t set in stone. A percentage goes to the buyer’s agent and the seller’s agent, and fees also need to be paid for the brokerage commissions. At DUFFY Realty, we are working to keep your costs low, which is why we offer an alternative, affordable commission structure for our clients. You will save thousands of dollars when choosing our team for real estate services.
Myth #2: You Can’t Change Real Estate Agents
Once you’ve signed a contract with a real estate agent, does it mean that you are stuck with them until the end of the transaction? Not necessarily, but it depends on the situation. Most of the time, these contracts cover a term between 6 months and a year. If things aren’t working out before the term comes to an end, then you might be able to talk to the agent about an early release from the agreement.
Myth #3: Real Estate Agents are No Longer Necessary
You can search for real estate listings on your smartphone, so some people assume that they no longer need the services of a real estate agent. The truth is that there is a lot that happens behind the scenes when you engage the services of a real estate expert. Not only will they help you find the right property, but you need someone who can negotiate for your needs and oversee the piles of paperwork that will come through for the transaction.
Myth #4: The Best Way to Save Money is with FSBO
For Sale By Owner (FSBO) can be a headache, often resulting in a mess of paperwork and problems for your transaction. Even though you want to save money on the sale, eliminating the real estate agent’s commissions doesn’t mean that you will be net ahead. A good agent will help to maximize your sale price and speed up the time that it takes to sell your home. Pair these benefits with the reduced commission fees available from DUFFY Realty, and you’ll find that working with an agent offers unanticipated financial benefits.
At DUFFY Realty, we’re here to assist when you are ready to buy or sell a come. Call to learn more: (678) 318-1700