Buying and selling real estate is a risky endeavour, more so since normal people like us do it once in many years and in some cases it’s also a once-in-lifetime frequency. The irony is that this frequency has no correlation whatsoever when it comes to thinking that we have all the knowledge in the world regarding real estate. Most of this so-called knowledge is the result of experiences that our friends or family members had or through the internet.
Based on this half-baked knowledge that is collected from here and there over time, we form our own opinions and start sharing it in our circles of influence. Here, we’ve debunked some common myths that are related to the real estate agents:
1. There is a strong myth that if you do the real estate transaction through a real estate you will end up paying higher. Now, this is a completely false assumption because if the house is listed with any real estate agent then the commission part of the agent is inbuilt in it. Thus, if you don’t buy through an agent the seller’s agent will get the entire share.
2. You can definitely sell a house yourself, but believe me without an agent it’s an uphill task. Suppose you are staying in the Calgary area and you have not listed with say TSW Real Estate Group or any other agency working in that area. Then to list your home online, negotiating with prospective buyers, getting into the nitty-gritty of the contract, dealing with issues that can crop up anytime during inspection or during the loan application phases will just suck your time and energy.
3. If you have an agent then too thinking that your listed property will show online is not always true. Most of the reputed builders will never falter on this, but it’s always better to be sure than sorry. So, verify once if your property is showing up or not.
4. The agent you chose for either buying or selling a property may or may not have a fiduciary duty towards you. Thus, before signing him or her, do some research and find out if he or she represents interest or is just a transaction broker.
At times, these myths can hurt the chances of people buying or selling a property, so beware of it.