MYTH: List with a large company because all their agents will work to sell my property.
FACT: The “bigger is better” myth has been around since the beginning of time, but few agents will do a disservice to their buyers by showing only their company listings. Many real estate companies today are franchise operations that pay a fat fee for name use. These include Coldwell Banker, Century21, ReMax, Better Homes, Help-You-Sell, etc. Because of these fees, fancy offices and generally high overhead, you will pay higher commissions to sell or purchase a property. Your transaction and selling experience, as well as your dollar savings is only as good as the agent that represents you-no matter what the name of the company.
MYTH: Slick advertising will sell my home.
FACT: Price, location and amenities will sell your house. Sellers like to see their property advertised, and buyers like to look at ads, but the buyer’s agents will show properties that fit the criteria of their buyers, not criteria based on slick advertising. Real Estate companies advertise to make the phone ring to pick up new buyers. Newspaper advertising has steadily fallen more out of favor, as direct mail and the internet have risen in use by the public.
MYTH: Fancy real estate offices and fixtures impress me, and help sell my house.
FACT: Fancy real estate offices, fixtures and high rent locations are impressive, but they are paid for strictly by commissions generated by the agents for the company. Many buyers and sellers don’t see the inside of a real estate office during a transaction, but it is a nice working and social environment for the agents.
MYTH: An agent stated that they had a buyer for my house.
FACT: Most real estate associations and government departments believe that this is an unethical and illegal approach to securing a listing, unless the agent actually has a bona fide purchase offer for the property. Sometimes an agent will have a buyer that might be interested in a property, but to state that their buyer (who has never seen the property) will buy that particular property borders on fraud. Additionally, would you want an agent who knows what their buyer is willing to pay for a property to split their loyalties between the seller and the buyer? As a seller, wouldn’t you rather have your interests fully represented by your agent?
MYTH: Open houses sell properties.
FACT: It is true that Broker’s open houses on tour day introduce the new property to agents in the area. This is an important part of the marketing process. However, a general public open house usually attracts curious neighbors who may be looking for a friend or relative, and possibly those interested in decorating ideas. While buyers will sometimes buy at an open house, the percentage of this type of occurrence is statistically quite low. This myth may not cost you money, only one day of your valuable weekend.
MYTH: Pets love strangers and won’t bite anyone.
FACT: Everyone loves their own pets, but the pets of strangers may present a problem to buyers and to their agents. Barking dogs and runaway cats are a definite distraction in the home hunting experience. Some agents won’t even show a house if a dog is barking inside. Many agents who have been in the business for some time are leery of having their buyers jumped, bitten, chased or prodded by curious or amorous pets. It is a good idea to have pets sequestered in the garage, a bedroom, or in a dog run when the buyer visits with their agent. The buying party will feel more relaxed in taking in the floor plan and amenities of the property than in trying to keep pets at bay. Signs on a garage or bedroom door warning of pets help put buyers and their agents at ease.
