REALTORS^® and Buyers – Myths vs. Facts

Myth: You hire a REALTOR^® to find you a home.

Fact:  Yes, but that’s only a fraction of what a REALTOR^® does. Quite often you may know the exact neighborhood or home you want to buy. You may see a sign five minutes after it goes on the market or a friend let’s you know about something coming up. You hire us to get you a home at the best value – to manage the entire process so you don’t have to.

Myth: I don’t need to hire a REALTOR^® to find a home.

Fact: Did you know that in the current market only 5% of the homes available for sale ever get advertised or marketed directly to the public?* Without a REALTOR^® you miss 95% of the homes that might work for you. If your strategy is to visit open houses, we will have information on these properties days ahead of the open. We can often  show you the home before the hordes of buyers descend on the open house that also had the same strategy you did (Fact: 150 people at our last open house). If it’s not already on the market, our marketing department will find it for you before anyone else does.

*Based on 2004 NAR data.

Myth: We will use the listing agent or buy directly from the builder.

Fact: The seller or builder is not going to sell you a home for any less because you are NOT using a REALTOR^®, so why not have representation throughout the process? It is a little known fact that listing agents and builder representatives are legally and ethically obligated to serve the seller’s best interests. This means when assisting you, they are still completely obligated to do what’s 100% best for the seller. Another little known fact…they almost always make more money when you are not represented. Protect your interests and get the best value; hire EYA Urban to represent you in your home search.

Myth: You don’t need to talk with a REALTOR^® until you are ready to buy.

Fact: Would you wait until the day you are ready to retire before talking to a financial planner? Probably not. Making what, for most people, is the largest purchase of your life requires a well-executed plan. At EYA Urban, we work with you as long as it takes to find you a home. Buying a home is a process; the earlier we start working together, the more we can help.

Myth: I can find a home on my own by searching on the Internet.

Fact: There has never been a better tool than the Internet for consumers to view properties, gather data and learn the market. The technology has exposed our homes to millions of people. Unfortunately, the Internet has not proven to be timely or accurate. In most cases, by the time the property is placed on the web it has already been sold. Another problem is that consumers can get so much information; they have a hard time determining what is important. At EYA Urban we work in “real time.” As soon as we have  new information, we pass it along to you exactly the way you want it.

Myth: High producing “mega agents” selling 100 homes a year are the ones to use because they obviously know what they are doing.

Fact: High producing agents do sell a lot of homes. Does it stand to reason that makes them the best? Good question. One person can only be in so many places at a time. Therefore, the “mega agent” hires multiple assistants to allow them to work with many clients at once. This means you will have limited time with the agent and most of your time will be spent with the assistants; not the person you hired. At EYA Urban, our structure is just the opposite. We have specialists supporting you and your agent at every stage. As a result, our agent’s ONLY job is to spend time with you. We are high producing and high service.

REALTORS^® and Sellers – Myths vs. Facts      

Myth: You hire a REALTOR^® to sell your home.

Fact: You, as the owner, sell your home. You hire us to provide marketing, sales and administrative services – to handle the entire process so you don’t have to. The result, more money for you.

Myth:  Any real estate agent can sell my house.

Fact:  As long as a REALTOR^® is licensed in your state, they can legally sell your home. A traditional real estate company encourages their REALTORS^® to work in large geographic regions, requiring the REALTOR^® to be familiar with all of those areas. While this may sound good on the surface, the reality is that nobody can be an expert in such a large territory. Remember that a “Jack-of-all-trades” is a master of none. At EYA Urban, we ONLY sell properties in urban locations. We do not sell homes in areas where we are not the experts. Now that’s different.

Myth:  I will save money if I sell my home myself.

Fact: By selling your home without a REALTOR^®, you will not pay real estate commissions. This does not necessarily mean you save money, however. Purchasers tend to negotiate more when a real estate agent is not involved.  Price your home too high and it sits on the market unsold. Price it too low and you lose the money you think you may be saving. And most important, what is the value of all the time you will need to spend on the transaction? Your time is valuable. The more time you spend on your real estate transaction reduces the amount of money you have saved by not hiring a REALTOR^®. At EYA Urban, we maximize your transaction value by getting you the highest price possible with the least amount of headaches. It’s pretty simple – homes with the greatest amount of exposure, are seen by the greatest number of interested buyers, therefore they sell for the highest price.

Myth: It’s a hot market; the REALTORS^® job is easy.

Fact: Are you comfortable with your understanding of all the real estate laws in your areas? What if you receive multiple offers with escalation clauses and different levels of contingencies? Are you able to analyze your potential purchasers financial statements and determine how qualified they are to purchase your home? Contrary to popular belief, a significant portion of what a REALTOR^® does occurs after a sales contract arrives.

Myth: All Real Estate companies are the same.

Fact:  Frankly, there isn’t a need in the marketplace for another “regular company with regular agents”. We opened EYA Urban because there is a need for an effective, creative real estate company. Our innovative programs from our marketing and transaction support departments have had amazing results (did we mention that other REALTORS^® and companies don’t even have these departments?). Our concept of assigning specialists to support your REALTOR^® at each stage of the process has been particularly successful. All Real Estate companies large, medium and small use basic customary tools. And it can’t be denied that the multiple listing service (MLS) is a powerful tool amongst REALTORS^® to market properties. But, it takes more than the common, basic tools for sellers to realize the highest market value and have a satisfactory transaction.

Myth: Getting a lower fee from an agent will save me money.

Fact: The old saying “you get what you pay for…” is true. Saving money by paying a discounted real estate commission does not necessarily equate to the highest value. Companies and agents that discount fees offset that reduction with a lower level of service and attention. The result is more time on the market for your property, greater stress on you and a lower market price when your home finally does sell. Saving money and creating value are two different things. Value is the amount of time saved, stress reduction we can offer and dollars received. By having our team manage the entire process, you get the most money for your home.