Real Estate Myth #2: Realtors Are LIARS and CROOKS!?! Is this how you really view real estate professionals? Do I look like a sleazy, greasy, leisure suit wearing, rejected used car salesman? When are we going to get past this stigma?
Perception is reality to the perceiver. Unfortunately there have been SOME "professionals" from the real estate industry that caused this stigma . Notice the emphasis on some. The North Carolina Real Estate Commission lists the various infractions that have resulted in the suspension/revocation of licenses for North Carolina REALTORS®. I know that everyone is not lily-white. But I also know that there are plenty of real estate agents which do care about doing a great job for their clients.
I have used 5 diferent real estate agents in 3 seperate states for personal transactions before becoming an agent. I can honestly say that I would only use 1 of these individuals ever again! Don't get me wrong, I learned a lot from the other 4 agents. But the lessons learned were what NOT to do in order to provide excellent service and support to my clients!
Realtors are licensed professionals that act as limited legal agents for their clients. We are not just good ole Uncle Billy who sells cars down at "Cheatham, Dewy, and How" auto salvage. Don't get me wrong these salespeople do provide a service. But they are not held to the strict licensing standards, legal considerations or education requirements that a real estate professional must maintain in order to serve the public.
We are required by law to tell the public who we are representing in a real estate transaction. We can not personally represent and sell property that we own or have any ownership rights without making the public aware. We can not reveal confidential information (this includes offer prices, conditions of contracts, motivations for buying or selling, etc.) about our clients or their transactions. A real estate professional can not do anything that would give someone the upper hand in a transaction.
As real estate professionals we are required to complete pre-licensing courses, licensing exams, post-licensing courses, and yearly continuing education courses. This is all designed to make us knowledgeable and keep us up to date on changing laws and requirements. We must understand these items in order to protect our clients from legal and financial risks.
There are federal laws which we must abide by in all real estate transactions. If a real estate professional violates one of these laws they can be found guilty in a court of law. This could result in fines, imprisonment, license suspension, and / or revocation.
Each state has its own regulatory commission that monitors licensed real estate professionals. The North Carolina Real Estate Commission regulates and issues licenses to North Carolina REALTORS®. The commission also sets yearly update training; monitors continuing education; and reviews transactions and complaints to ensure the public is not harmed. This group is non-biased and is in place for the consumer. If there is ever an issue or complaint with an agent then the commission can suspend or revoke their license.
REALTORS® are also members of The National Association of REALTORS®. This body has a Code of Ethics that we are bound to uphold. The Code sets obligations and responsibilities which may be higher than what is mandated by law. This Code has been adopted in order to raise the bar for service to the public.
Real estate professionals are also members of local associations which monitor our actions within the local markets that we service.
Real Estate Myth #2: Realtors Are LIARS and CROOKS!?! There are plenty of layers that have been put in place to safeguard the public. There will always be a few bad apples in every industry. It is up to each real estate professional to make this perception go away. I work hard everyday to make sure that everyone can relax and enjoy their dream of home-ownership.
(Donnie Worley is a licensed REALTOR® with RE/MAX Real Estate Service. He is a husband and father living in Sanford, NC and serves Lee, Harnett, Chatham and Moore counties. If you have any questions or comments send them to donnieworley@ymail.com or call/text 919-478-4967)
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