Breaking Down the Common Myths About Real Estate Agents

By Bill Greenly - HousingInfo.com Apr 23,2009

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When a person first considers putting his or her house on the market or buying a home, he or she will often hear many rumors about what to expect from a real estate agent. Here is the truth about what you may have heard about workers in the real estate industry .

Common Myths -- All Real Estate Agents Are the Same

Anyone who is licensed to help you to buy or sell a house can call him or herself a real estate agent, but only Realtors are registered with and licensed by the National Association of Realtors . This means that they have additional training and pledge to uphold higher ethical standards than others do in the real estate business. Realtors also have access to MLS listings, which can make both buying and selling a house quicker, more profitable and more efficient. In general, using a Realtor is preferable to using a real estate agent not affiliated with the National Association of Realtors.

Common Myths About Real Estate Agents -- All Realtors Are the Same

Just because you have identified a Realtor, doesn't necessarily mean you have found the perfect person to buy or sell your home. Some Realtors have more experience or be more successful at meeting your needs. Furthermore, Realtors can have different specializations . One may have additional certification as a buyer representative, another may be a certified specialist in dealing with diversity clients, another may be an expert in working with seniors to buy and sell homes. You should fully investigate when choosing any real estate agent.

Breaking Down Common Myths -- All Real Estate Agents Have Your Best Interests at Heart

Some real estate agents may be operating under their own agendas. They may want to make a sale as quickly as possible. Alternatively, they may avoid sale opportunities that will result in a lower price than they hope to get. Make sure that the real estate agent you use has a very clear understanding of what you need and expect from them. Stay on top of the situation to make sure he or she follows through.

Common Myths -- Real Estate Agents Get Payoffs to Promote Certain Properties

Some people are concerned that real estate agents get money under the table to push certain properties that may not be the best choice from the buyer. While this is possible, the reality is that the Real Estate Settlement Procedures Act of 1974 prohibits such a practice. Any real estate agent caught doing it will lose his or her license and be subject to additional legal penalties. Most reputable real estate agents would not take on such a risk.

Breaking Down Common Myths About Real Estate Agents -- Agents Will Let You Know the Ethnic Breakdown of the Area You Are Considering

In fact, it is against the law for your real estate agent to give you details of the ethnicity of a region, so you shouldn't even ask. Title VIII of the Civil Rights Act of 1968 , the Federal Fair Housing Act, outlaws discrimination based on race, color, sex, religion or disability in all housing related transactions. Inquiring about an area's ethnicity falls under the definition of discrimination. If you have heard something about the real estate trade that you're not sure about, your best defense is to ask. Any reputable real estate agent will be happy to clearly and honestly answer any questions you may have about the industry and what he or she can or cannot do. If you're not satisfied with the answers you receive, don't be afraid to contact another real estate agent for additional opinions.

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Breaking Down the Common Myths About Real Estate Agents


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