3 Common Misconceptions About Real Estate Agents

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3 Common Misconceptions About Real Estate Agents






A colleague of mine was watching a video on YouTube and I asked her what she was watching. She showed me this episode of "Actor & Actor Answer The Web's Most Searched Questions" and out of curiosity, I googled what people have been asking about real estate agents and questions such as "Why are real estate agents so rich?" and "What real estate agents do?" and "When real estate agents lie?" came up.


I wasn't really taken aback because these are questions I've been asked before by people who's had a bad experience with a different agent before or by someone who just didn't know any better. I see these questions as opportunities to educate clients, friends, family and everybody else on what it is I do and address some misconceptions about agents. So, in today's blog, I want to discuss three common misconceptions about real estate agents. 


#1. Real Estate Agents Make Lots of Money



Now, let's talk about agents making lot of money. The brokerage, not the agent, gets the commission unless the agent is its own broker which most agents are not, by the way. You have to hang your license under a broker if you are to work as a real estate professional in the state of California.  Depending on their contract, the agent gets a split of the commission. Most new agents I know of, started at 50/50. That immediately takes away half of the commission. The broker gets paid because they are taking a lot of risk and liabilities. So, agent gets half of the commission minus and other fees they have to pay for every transaction. Some agents I know pay for fees I've never heard off but it is the cost of doing business. Below are some of the most common ones. 

Broker fee
transaction coordinators fee
franchise fee
office fee
tech fee
E/O insurance fee

The list above does not include what they paid for advertising the property, for photography, videos, for brochures, for their gas etc. Whatever is left is what they're paid for their time. It really isn't that much if you divide it with the amount of time spent on the clients as well as the transaction. Most agents are not listing or buying million dollar homes like they do on HGTV. 


#2. Real Estate Agents Are All The Same


I've heard of people's horror stories when purchasing or selling  their home. I've had someone vent to me at an open house about how they have the worst experience because their agent do not answer their phone, have horrible customer service and that they took care of everything themselves. People have said that agents lie all the time. Just like in every other profession, there are some bad apples in the industry but majority of the us are good agents, excellent agents even. We have different experiences. The seasoned agents will know more than the part-time newer agent. I know some "kill them with kindness" negotiators and some aggressive ones. We market our listings differently. Some take the photos with their phone and some use professional photography and videos. Some work on their customer service and some focus more on the process. You have to interview agents (with an s) so you can find someone that you would be comfortable working with because agents are not all the same. In the future, it's best to set your expectation with the agent from the get go so you're both on the same page. 


#3. Real Estate Agents Do Nothing



As an agent, it is our job to make the transaction go as smoothly as possible and stress-free or at the very least, less stressful for you. What makes selling or buying a house complex is the many people involved in one single transaction. You have the brokers, the real estate agents, the transaction coordinators, the sellers, the buyers, the home inspectors, the escrow officers, the loan officers, the loan assistants, the appraisers, the underwriters, the lenders, the title company along with the county working together to close this deal. In some instances, there would be more people involved. It is a lot of work. A capable agent will make it look like he or she has done nothing. Putting a house on the market or getting an offer accepted is the easy part. Keeping the transaction from falling apart is the real hard work. There's so many things happening behind the scene that you do not know about. We do all the worrying for you so you do not have to. Clients not getting stressed and closing escrow is the goal. 


Note:

If you or someone you know is looking to own, sell or invest in real estate in Canyon Lake - Menifee area and the surrounding cities, I'd love to help! 


Angela Carpio, Realtor

6192285034

AngelaCarpioRealtor@gmail.com

http://www.angelacarpiorealtor.com/

#angelacarpiorealtor















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