There are many horror stories surrounding real estate agents and the process of purchasing a home. As such, it is no wonder why some people are afraid to start looking! Fortunately, most of the stories that are circulating about the process of purchasing a home are nothing more than myths. Agio Patio Furniture . Here’s a look at some of the most popular myths and the truth behind them.
Myth #1: Real Estate Agents are Always Late to Appointments
While there are certainly a few agents out there who seem to think their time is more important than yours, this isn’t the case with all agents. In fact, if you have an agent who can’t seem to make it to your appointments on time, it is time for you to look for someone who can. Don’t listen to excuses. Demand the respect you are owed.
Myth #2: Agents Have to Show You Homes on Demand
If you have a signed contract with a buyer’s agent or if the agent you have contacted represents the seller of the home, he or she will certainly show you the home you have requested to see. Otherwise, the agent is under no obligation to show you anything. After all, agents can’t be expected to work for free and taking you to see a home without any contract from you or a possibility of earning a commission simply isn’t good business.
Myth #3: Agents Get Kickbacks from Lenders, Inspectors and Title Companies
Put simply, receiving kickbacks from a real estate vendor is against the law. Since 1974, the Real Estate Settlement Procedures Act, or RESPA, has made this process illegal. Bathroom remodeling Allentown Pa . North Carolina foundation repair companies . While there may be some unscrupulous agents who still take kickbacks, most would not risk losing their license for a little extra money.
Myth #3: Home Inspectors Recommended by the Agent will Always Favor the Agent
While your agent would certainly like to see the home come through with a favorable inspection, no reputable agent will want the inspector to put a stamp of approval on a home that doesn’t deserve it. First of all, most agents want what is best for their clients. After all, a happy client is a client who will give a good recommendation to other buyers and sellers. Second, real estate agents don’t want to risk being sued by a client who believes material facts were not disclosed as required by the law. Simply put, real estate agents know it is best to fully disclose all of the details to a buyer and a good agent will work on your behalf to make certain all of the necessary repairs are made before the transaction is completed.
Myth #4: Agents Need to Tell Clients About the Ethnic Make-Up and Crime Statistics of a Neighborhood
While it may seem reasonable to ask your agent certain details about the neighborhood you are considering, keep in mind that Federal Fair Housing laws prevent agents from discussing certain details. More specifically, any information that can be considered discriminatory cannot be discussed. Even if you are asking about details for good reasons, such as wanting to live in a Jewish community so you can be surrounded by others of the same faith, your agent cannot provide you with information regarding the ethnic make-up of the community. The same is true when it comes to providing information regarding school statistics and crime rates. A reputable agent can, however, point you in the right direction so you can obtain this information for yourself.
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