Whether you are a buyer or a seller, it is very easy to fall into the trap of myths surrounding real estate agents as you enter the real estate market. It is important to know the ins and outs so that these myths can be put to rest. To start, we’d like to tell you that there are usually two real estate agents in every transaction; one for the buyer and one for the seller. Let’s now take a look at some very common myths and fact-check them!
Agents Receive a 6% Commission, Always
It would be nice, wouldn’t it? Most people just assume that their real estate agent is pocketing the entire commission, but they are not. When the seller pays the commission, it is divided into four parts; and distributed evenly between the two agents and the two brokerages. The sellers can also negotiate this amount at times, so it is never set in stone.
Once Your Agent, Always Your Agent
It’s true that you must sign a contract with every agent, which includes a term ranging anywhere from six months to one year. Once this contract is signed, it is possible you may be stuck with the said agent for the term, but it isn’t always the case. If your current agent is not working out for you, you can always ask the agent or the brokerage to let you out of the contract earlier than decided.
Buyer’s agents work a bit differently and are rarely under a contractual agreement with their agents. These agents often work for free until the client has found a home. It can take anywhere from a month to a year or more.
Buyers Can Use The Selling Agent As Well
This isn’t true. The seller’s agent’s fiduciary duty is to ensure they score the best value for their client, and a buyer using them could cause a conflict of interest. It is always advisable to go with your own real estate agent, so you know you can trust them.
One Agent, or The Rest: They’re Just as Good
Contrary to popular belief, all agents are not created equal. Having access to a great local agent can help make an incredible difference when you are trying to buy or sell a home, so don’t ever settle for less! With the right agent, you will save on time and money. What’s more, is that they will go out of their way to keep you out of any loopholes.
It is very easy to get lost in a sea of real estate agents that won’t help you the way you want them to. And as such, putting your trust in your friends at AlpharettaZen might just be the right thing for you to do. Give us a call at 404-806-5353, so we can discuss your property needs at the earliest opportunity.