Real estate isn’t a perfect industry and many people dish out all kinds of opinions about real estate agents, brokerage firms, and the industry in general. It is precisely these opinions that lead to many myths and misconceptions about real estate professionals, making people doubt the value of their work and criticizing their profession. Many of these opinions, however, should be taken with a grain of salt and taking care to distinguish between opinionated judgment and fact will help you gain a better perception of the industry and the people in it. Whether you are thinking of buying or selling a property and considering the aid of a real estate brokerage firm, the following will help you know the truth about myths and misconceptions surrounding real estate agents and companies in the Philippines:
- You will find all you need online—you don’t need a real estate agent. The age of technology has given birth to many self-taught experts in different fields. While it is true that it is easy to find answers about anything and everything you want to know about making a sale or finding a property with just a click, internet knowledge simply cannot compensate for the expertise and real-world experience of brokerage agents and firms. These professionals can and will help you through the entire process unscathed by avoiding rookie mistakes and common pitfalls.
- The more that you pay, the more that the agent gets. Properties don’t get expensive because of huge commissions. In fact, agents get fixed amounts per sale and they don’t get extra payments or kickbacks from inspectors, titles, and lenders—this is against their code of ethics. Even when agents get undue amounts, they will have to face the penalties of the Real Estate Settlement Procedures Act.
- Real estate agents are only in to make money. On the contrary, real estate agents are compassionate professionals who truly want to help their clients sell their home or find their dream home in the most favorable terms.
