Myths of Real Estate
I don't need a Realtor if I plan to buy new construction from a home builder.
While this is technically true you should absolutely enlist the help of a Realtor for purchasing a new home. The builder's sales associate is representing the seller, you as the buyer need to have a representative as well. We will help you negotiate the price for your home as well as builder credit with your design center. We will also be by your side when you do your walk through. It is very important to do a thorough walkthrough as it is more difficult to have something fixed once you are moved in to your home. You will also need to have at the very least a professional painter and landscaper since the builders do not do these things for you. With our contacts in these industries, you can be confident that you will get high quality work for a fair price.
Upgrades like a kitchen or bathroom remodel will increase the value of my home.
The two most common and also the two most expensive remodel projects for most homes are kitchen and bathroom remodels. Many people believe that these projects will increase the value of their home and while that is indeed true, the whole picture is that on average a kitchen or bathroom remodel will only increase your home value by 90-95% of the cost of the project. If your goal is to remodel for your own enjoyment then go for it. But if you think you need to do some major remodeling before selling your home you might not be satisfied with the final result. Talk with your Realtor as soon as you are considering selling your home and seek their advice on what might be needed to sell your home. A remodel might be a great decision or it could end up costing you dearly.
I can get a better deal on a home purchase if I go straight to the listing agent.
There is a common misconception that if you use the seller's Realtor as your agent you can have them lower their commission if you use them, thus getting a lower price for your home. The reality is that no agent should use their commission as a negotiating tool for the buyer. by doing so, the Realtor then puts himself/herself in the middle of the transaction rather than guiding it. Real estate agents have a fiduciary duty to their clients, which is difficult to maintain if you have two clients that are on opposing sides of a transaction. If you want a great deal on your home, make sure your Realtor can help you negotiate the deal rather than expecting the agent to become part of it.
Realtors are paid a salary by their office in addition to the commission on the transaction.
Realtors are independent contractors that sign an agreement with their office to become representatives of that brokerage. As independent contractors, we are only paid when a transaction is completed. This is why it is important to select a great Realtor you trust. We are going to work very hard for you with the understanding that you will remain loyal to us as clients. Our source of income is only from the commissions we earn but our source of satisfaction is having clients that are so completely satisfied that they refer us to their friends and family.