FUN FACTS—The questions you always wanted to ask but didn’t want to offend anyone!
Myth: Using a Realtor® is expensive which is why I am going to find a property on own and negotiate my own deal.
FACT: Sellers actually pay for the buyers to use a Realtor®, it is figured in the sale price of their home and shows on the HUD as a debit from the seller. Buyers do not pay commission so our expert services are complimentary for buyers!
Myth: I’m going to find a property on my own and just call the listing agent to save money.
FACT: Whether you use your own Realtor® or the listing Realtor® the commission in the listing agreement is usually the same. It does not save the buyer money. Plus you cannot be assured that the listing agent is always acting in the best interest of both parties.
Myth: I’m going to find a For Sale by Owner (FSBO) property to purchase rather than using a Realtor® because it will be less expensive since there isn’t commission to pay.
FACT: Typically FSBO properties are overpriced to begin with resulting in the buyer actually paying more. The job of a Realtor® doesn’t end when the contract is signed, it actually is just beginning. Typically there are several inspections to take place, escrow accounts, inspection negotiations and more that have to be handled legally and contractually. Plus there is a lot less inventory of FSBOs to choose from and they can be difficult to find.
Myth: I’m going to use several Realtors® to see who comes up with the best property for me and then buy my property with that Realtor®. I will have access to more properties that way.
FACT: All Realtors® have access to the same MLS systems and therefore access to the same MLS listed properties. If you use 1 expert Realtor®, you will get much better professional service rather than using several. Besides, if you are working with a lot of Realtors®, they all usually find out. Remember, no one likes to waste time.