Common Misconceptions About Working With Real Estate Agents from Theresa Hus's blog

When buying or selling a house (or apartment, for that matter), folks have all sorts of (ill-conceived) ideas about working with real estate agents. Some believe going the DIY route with "for sale by owner" will save them substantial money, i.e., the agent's commission. Others swear by online resources. These inventive people will think they can outfox an experienced agent. Then there are tales about online property listings and home renovations guaranteeing a dollar-for-dollar comeback. 

Do you consider yourself prone to believe such half-truths? Then, let's unpack some of these enduring myths, shall we?

We won't try to convince you of the countless benefits of working with an agent or realtor. Suffice it to say that these experts are still working in the industry for a reason. With numerous years of experience behind them, they have served their clients well, addressing their (sometimes uncommon) housing needs. 

It's a sink-or-swim world, and failure to deliver on client expectations will inevitably result in giving up the profession. Members of the real estate agents directoryknow the local market, can negotiate prices, and guide customers through the maze of intricate real estate transactions.

First, let’s discuss "for sale by owner" (FSBO). Some folks are dead set on skipping the real estate agent to bypass that 5-6 percent real estate agent's commission fee. Sounds enticing, doesn't it? Well, hold your horses! Selling a house is different from doing business with lemonade on the street. Agents bring know-how, market insight, and expert negotiation skills to the table. They help set the right price, market the place, and handle the paperwork hustle. In other words, they save you time and money by undertaking the transaction's lion's share. Plus, you won't have to endure the stress of selling or buying a property. 

Going solo might mean missing outon potential buyers and possibly ending up with a lower selling price. Would you enter a boxing ring blindfolded? You could swing, but chances are you'll miss your target. The harsh reality is that without an agent, buyers might also spend more.

Next up is all the online resources stuff and nonsense. If you browse how to sell alone online, you'll see the web is chock-full of property listings and DIY guides. But now comes the kicker. Online research can only get you so far. Agents aren't just door openers! They're genuine deal-makers. They're your trustworthy guide, ensuring you don't get lost in the labyrinth of legal jargon and shady deals. 

Online sites, platforms, forums, and social media ads will not reveal what's waiting for you on location. How could they? This is where tangible neighborhood practical knowledge clashes with dry theory. Expert agents know the neighborhoods like the back of their hands. Plus, they can access off-market gems. As a result, they can spot a deal from a dud. Then, they alert buyers about red flags when they want to purchase a potential money pit.

Trusting Uncle Google over a seasoned agent is like trying to perform surgery after watching a few YouTube videos—not the most brilliant move.

Now, let's bust the myth about online properties. Ever discovered a dream home online, only to hear it's already snatched? In other cases, shiny (probably photoshopped, virtually staged, or otherwise tampered with) pictures and videos will try to convince you that this property is the next best thing.

Yes, that happens. Not all properties you see online are up for grabs. Some listings are as real as a unicorn. In reality, they might be outdated, already sold, or a scam waiting for an unknowing buyer. Real estate agents have the skinny on what's legit and what's an illusion. They can hook you up with fresh listings, sneak peeks, and even off-market assets you won't find online. And don't get us started on iBuyers (online platforms working without realtors), which offer sellers instant sales at the expense of reasonable revenue. 

Relying solely on internet listings is like assuming all that glitters is gold—you might end up empty-handed.

Some people reject the idea of agents pocketing a chunk of that sweet income. But here's the scoop! Agents don't just walk away with your hard-earned money. They earn their keep by busting their chops day in and day out. Do you believe that agents' commissions only cover the manual labor of putting up a "For Sale" sign? Wrong! 

The commission is the price for expertise, experience, and peace of mind. These pros do the legwork, market your property, negotiate like champs, and ensure the deal goes smoothly from A to Z. You might see that commission cut as a loss, but it's an investment in a hassle-free home sale. 

At the same time, buyers can only benefit from their agent's input. How? A buyer's agent empowers you by saving money on home purchases, establishing the property's fair market value, and negotiating the initial price. They also access listings faster and assist in finalizing the paperwork. Finally, sellers pay for the commission of the buyer's agent.

Last but not least, let's explore the myth about home renovations being a surefire way to double your revenue. It's true - giving your home a facelift can increase its value. Yet, only some remodels are a winning ticket. Some upgrades bring a solid return on investment, while others tank fast. 

Real estate agents can determine which improvements will strengthen your home's price tag. They know what buyers dig, where to invest, and where to cut corners. Most importantly, they won't convince you about futile expenses to make the sale happen faster.

Going all-in without a pro's advice is like betting the farm by spending all of it on lottery tickets. You might hit the jackpot, but the odds are you'll end up with empty pockets.

So, there you have the top five common misconceptions about working with real estate agents debunked. A real estate transaction isn't just about buying and selling. It's about having a savvy sidekick in your corner. Under such circumstances, they're worth every penny for their input. Moreover, their practical knowledge beats infinite online resources. 

Make no mistake, though! Real estate agents are by no means wizards! Still, they make the house-hunting and property-selling journey smoother and (financially) sweeter. So, next time you're eyeing that 'For Sale' sign or scrolling through property listings, remember: sometimes, you must trust the pros to make the magic happen.