More common myths of buying and selling real estate

By
Real Estate Agent with Keller Williams Success Realty BK3128229

As I continue my series, on common myths and misconceptions regarding the buying and selling of real estate I'm please to present another set of myths and conceptions.

Here then are the next 4 common misconceptions about buying and selling real estate my customers have presented me…

  1. Buyers have to pay a real estate agent

This misconception is quite common in today’s market.  Many buyers believe when they work with a real estate agent, it will cost them money.

Actually, in many areas real estate agents work with buyers for free.  The agents fee is paid by the seller when the property is sold and closed.

  1. Going directly to the listing agent will save money

Often, a buyer will want to go directly to the listing agent in the hopes of saving money by negotiating or asking them to lower their commission.

Having your own buyer’s agent represent you helps when purchasing a property by having an experienced negotiator guide you on what items are negotiable, price and other ways to save you money.

  1. Working with more than 1 agent is ok

This extremely common misconception is one of the most wasteful of all. When working with an agent as your representative, it is vital that you work with just that one agent.

Most real estate agents work very hard for their clients.  Their expenses tend to be quite high just getting clients: website fees, administrative fees etc are just a few of the costs real estate agents incur in their business.

If your agent is unavailable for any unacceptable reason, rather than contact another agent to show you a few homes, perhaps instead you should be contacting an agent who will work for you when you need them.

  1. Listing with a friend/relative will save me money

This misconception can be quite damaging to a relationship.  First off, if the agent is a friend and have agreed to reduce their commission, are you certain they are still able to market your property correctly?

Also, an interesting issue that often arises when working with friends or relatives – if your property does not sell and you believe you are not being represented appropriately, will you be able to fire them and hire an agent who will?

You can always ask your licensed friend to help you find an agent so they can receive a referral fee.

Summary

As you can see there are many misconceptions about buying and selling real estate, working with an agent as well as the procedures involved.

When you’re looking to purchase or sell a property, get as many facts and information from licensed sources. This will ensure you not only have accurate information, but also can make an educated decision on your next property purchase.

Don't be afraid to contact several agents before making up your mind which you prefer to work with, they are there to answer questions and guide you the best they can

If you'd like to read the original article, you can read more about Common misconceptions about buying and selling real estate


 

List your home with the Panama City Realty Group

 

If you're interested in purchasing or selling a home or condo in Panama City or Panama City Beach contact Jennifer today!. Directly: (850 ) 774-6582.


panama city beach realtor

Welcome to our Panama City Beach real estate blog. Please share your thoughts and opinions as comments are always welcome, whether you are a consumer, journalist or another real estate professional.

Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additional information on any of our topics, please contact me directly and I will be glad to assist you.

Post 12
Posted by

Jennifer Mackay in Panama City

Jennifer Mackay
Panama City Realty Group
850-774-6582 Cell
PanamaCityRealtyGroup.com
Keller Williams Success Realty
309 Richard Jackson Blvd., Suite 200
Panama City Beach, Florida 32407

 

 

 

 

Jennifer Mackay on YouTube | Panama City Realty GroupJennifer Mackay on Facebook | Panama City Realty Group Jennifer Mackay on google plus | Panama City Realty Group Jennifer Mackay on Twitter| Panama City Realty Group Jennifer Mackay on LinkedIn | Panama City Realty Group Jennifer Mackay on Pinterest | Panama City Realty Group

close

Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Jessie Cochran 09/13/2016 01:05 AM
  2. Will Nesbitt 09/13/2016 01:33 AM
Topic:
Real Estate General Information

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,884,057
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Jennifer Mackay,

I like your series on common myths and misconceptions regarding the buying and selling of real estate! Another great set of tips to help the consumer understand the process.  

Sep 08, 2016 10:04 PM #1
Rainmaker
1,740,819
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Jennifer these are very good ideas and thank you so much for sharing them with us. 

Sep 08, 2016 10:19 PM #2
Rainmaker
2,110,920
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

#3 and #4 are usually expensive lessons for people who waste time and money trying them Jennifer Mackay 

Sep 08, 2016 10:47 PM #3
Rainmaker
1,143,939
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Jennifer - this is an excellent post.  You addressed the  big four misconceptions heard over and over again.

Sep 09, 2016 12:34 AM #4
Rainmaker
1,166,320
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Jennifer Mackay, this is a MUST read post by all home buyers. Great advice!

Sep 09, 2016 01:06 AM #5
Rainmaker
2,355,893
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Keep them coming Jennifer, this is valuable information to both Buyers and Sellers.

Sep 09, 2016 11:57 AM #6
Rainmaker
2,128,039
Lisa Von Domek
Lisa Von Domek & Associates LLC Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

And this is why anyone interested in buying or selling real estate needs a licensed professional by their side Jennifer Mackay

Sep 09, 2016 01:48 PM #7
Rainmaker
1,977,614
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Jennifer.  The last one is still why we still have family and friends, won't touch it..

Sep 09, 2016 08:30 PM #8
Rainmaker
3,351,577
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I love your post. There are many buyers who think they can save money by going directly to the listing agent.

Sep 09, 2016 10:03 PM #9
Rainmaker
1,662,408
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Jennifer Mackay ,  A very nice blog and a good choice for a series.  Have a nice weekend.

Sep 10, 2016 12:37 PM #10
Ambassador
1,161,174
Gayle Rich-Boxman Fishhawk Lake Real Estate
Vernonia Realty - Vernonia, OR
"Your Gateway to the Lake" 503-755-2905

I just stumbled upon this--what a great and ongoing set of blogposts! Real estate certainly offers us much fodder for blogging material. 

Thankfully, most of these misconceptions aren't common in my work today. Whew!

Sep 23, 2016 06:59 AM #11
Ambassador
1,416,634
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Wow! We've all been in one of the situations on your list at one time or another. Some buyers don't get that I won't work with them if they're not loyal...and using another agent as well.

Rich

Sep 23, 2016 09:58 PM #12
Rainmaker
538,800
David Baker Laveen Realtor & South Phoenix Realtor
HomeSmart - Laveen, AZ
Your local Expert

I like this post, has some really good stuff.  LOL listing with relative will save you money...haha

Oct 06, 2016 10:41 AM #13
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
583,627

Jennifer Mackay

Your Bay County Florida Realtor 850.774.6582
List with me today!
*
*
*
*
Spam prevention

Additional Information