Barrington Real Estate Agent Myth Busters

Fortunately, some of the most dedicated, trustworthy and experienced real estate agents work and live in Barrington, Illinois.

We call them the Barrington Real Estate Agent "Myth Busters"!

However, if you are unfortunate enought to be living in another area of the state, or country, you may not be so fortunate as us here in Barrington to have such great real estate agents.

If you are in the market for a real estate agent, anywhere in the U.S., you may have thought you discovered everything you need to know about the "dirty, little secrets real estate agents deny, and naysayers and the misinformed shout about, but here's what you really need to know:

Here's the top 10 real estate agent MYTHS:

Real Estate Agents Make Too Much Money

False. An agent's average annual salary is less than $36,000 a year. About half the agents in any large brokerage close less than four deals a year. Nobody can live on that. Not once office fees are paid, MLS fees and lockbox fees are deducted, overhead and expenses for the agent are deducted, errors & omissions insurance and office supplies are paid.

Real Estate Agents are Habitually Late

False. There is no excuse for this habit among professionals. None. Whether it's your co-workers, your repairman or your real estate agent.

Agents Should Tell You About Crime, Schools & Neighborhood Statistics

False. Federal Fair Housing laws real estate agents from discriminating against a number of protected classes, which automatically prohibits an agent from disclosing anything remotely relating to those classes.

Agents Will Say Anything to Make the Sale

False. Although it is true that some real estate agents will lie to you, it's unfair to paint all agents with such a broad brush. Top producing agents, are very careful to uphold a client's trust.

The More You Pay for a House, The More a Real Estate Agent Makes

False. Ever hear someone say this: "Every dime more you pay for that house makes the agent more money, so don't trust that agent." That's a MYTH. The difference between $200,000 and $210,000 is about $150 to an agent. Do you really think the agent pays any attention to the commission difference of a $10,000 spread?

The Less Commission You Pay to Sell, The More you Make

False. Discount brokers are notorious for supporting this MYTH. They claim to save sellers money by charging less. The truth is real estate agents who are big money makers and excel in sales, do not discount services. Why? Because they don't have to.

Real Estate Agents Must Show You Homes On Demand

False. Unless you have a signed contract with an agent or that agent represents the seller, that agent you call doesn't have to show you anything. You can't call a local real estate office and demand service or demand to be shown homes, because agents don't work for free.

Real Estate Agents Get Kickbacks

False. Since 1974, real estate agents have been prevented from receiving any kind of kickback or favor from real estate vendors. It's against the law. It's against RESPA: the Real Estate Settlement Procedures Act. Most real estate agents have heard of RESPA and would not jeopardize their license.

An Agent's Home Inspector Will Always Favor the Agent

Any agent worth his/her salt wants disclosure. Why? Because he/she wants what is best for his/her client but also, and this is not to be taken lightly, because he/she does not want to be sued.

Agents Sell Their Own Homes for More Money

False. Busy agents and top producers don't have time to waste when selling their own home. They also understand the market better than your average home seller, which means if a home isn't selling within a reasonable period of time, it means it is priced too high. They are also less likely to be emotionally attached to their homes, as they tend to buy and sell quite frequently.

Maybe it's time you considered Barrington, IL, where the real estate agents are friendly, dependable, and successful.