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                                       REAL ESTATE MYTHS 

      Real Estate Professionals  are often misunderstood roles. Not only does the public misunderstand what the roles of a Real Estate Agent are they misunderstand how these professionals earn a living. I believe that lots of myths are simply a  lack of understanding or simply a misunderstanding.

     Many times when I am out showing property to a client or a potential client I find them hesitant to answer questions that I ask them. I am asking questions so that I can serve my clients to the best of my ability. I need to know what they like and don't like about a property so that I can find them what they want. When I find a couple 'withdrawing' from me it is for one of two reasons: 1)they don't trust confiding in me because the listing we are looking at is my listing and they don't realize that I can be a Dual Agent and actually represent them, which means I am required to look out for their best interest ,too. This will cause people to keep information from me thinking that I am only wanting a 'sale' or that I am ONLY working for  the Seller. They will not allow me to know they are interested in the property and only put it down while we are looking - when the truth is they LOVE the property and think their withholding information or complaining about the property will get them a better price for it. Myth Busted!

Dual Agency is something that every office does not do. The Law requires that Dual Agency be disclosed and agreed upon. When a Seller signs the Contract to list their property with a Real Estate office, they get the option of allowing that particular Agent to be Dual Agent.( At least a Realtor will give them that option. Some Agents are NOT Realtors.) Myth Busted ! When an Agent lists a property they are representing the Seller. When they show that property to an individual they are allowed to represent that Buyer, as well, which makes them a Dual Agent. Now, the Buyer is actually represented and doesn't have to worry about the Agent only looking out for the Seller's best interest. A Dual Agent will look out for that Buyer's best interest too. Myth Busted!  If you are working with an office that does not choose to do Dual Agency, they will ONLY be looking out for the interest of the Seller. You may 'assume' they are looking out for you as a Buyer, but they are NOT and you are on your own to decide what to do, when, and if you need inspections done on that property. If they are a Dual Agent the Agent would have you sign a document that states that. If no document is given to you to sign - you are NOT being represented. Myth Busted!  ASK QUESTIONS BUYERS! You have a right to be represented.  If an office doesn't do Dual Agency, you have  the right to ask another Agent from another office to represent you. That's Illinois License Law. You will NOT have to pay that Agent. That Agent gets paid from the Listing office. The agreed upon commission that office listed the property for will be split in some fashion with that Buyer Agent. It will not cost you to be represented! Myth Busted! Just because a name is on a yard sign does NOT mean they are the only one who can show you that property. Illinois License Law looks out for the Buyers rights by allowing you to choose who represents you in Buying property. Don't think that you will get a better price for the property by dealing with the Agents name on the sign! That is not the case! Some Agents will not answer ANY questions you ask about a property even if they are the Listing Agent - why - because they are working ONLY for the Seller or because they lack the desire to give you Top Notch Customer Service. Myth Busted!

2) The couple is already working with their own Real Estate Professional but didn't want to 'bother' them to show this particular property so they refuse to communicate with me. I never did understand this, but it happens more often than you would think. If a couple is working with a Professional why would they NOT want that person to be with them looking at property? I can tell you that the Professional they are working with doesn't want them talking to another Professional let alone look at a property with one. Why? Because Real Estate Professionals don't get paid until the day the sale closes. Myth Busted!  To allow your clients to look at property with another Professional is taking a chance that your clients will like the other Professional better and decide to use them to write up the contract - which means the first Professional will not get a pay day! 

Another thing I have seen happen all too often is people looking at the property I have listed for sale and contacting the Seller on their own thinking they will side step the process of the Agent being involved and get the property for a less price. When a person signs a Contract to List their property with a Professional that contract is binding to the degree that IF it is sold by the owner without the Professional, the owner still owes the Professional a commission. Contracts are enforceable in the courts and the Agent will collect their commission. Unfortunately, I have had Sellers try to get Buyers on their own while I have their property listed. They have gone behind my back for various reasons. It is NEVER wise for a Seller and a Buyer to even talk during a transaction. A Seller can 'think' they are being helpful and go into a detailed, emotionally attached statement about their property Making statements that Illinois License Law does not require as a disclosure. The Buyer realizes a week after they have closed and lived in the property that something that Seller said wasn't a true as they made it seem. That 'new' appliance was new to the seller but it was actually 10 years old! The next thing you know a  lawsuit is filed. You REALLY do need represented and you REALLY do need to let the Professional you hired do their job - they REALLY are protecting you! Myth Busted! 

Real Estate Professionals work very hard for the money we make - at least the Agents in my office do! We have to know how to present property within License Law, present a contract so a Buyer knows what they are signing, negotiate it with the Seller and then bring that agreement to a closing. All contracts written do not make it to a closing for various reasons. Our office helps with financing and filling out loan docs, if needed. We look out for inspections being done and making sure time lines are met. Missing time lines can mean loosing a deal. We make sure the Appraisal process is on time and doesn't involve a conflict of interest. When a contact falls through and it doesn't make it through the closing - that means I don't get paid! I went through all the time and effort with no pay day. We don't get paid a salary - we ONLY get paid when we do a closing. So, all the time spent showing property, writing contracts, negotiating, getting financing, ordering title work, deeds, etc. is lost time for us. Nothing is more frustrating than to show someone house after house, get them pre-approved and then have them go to an Open House or with another agent to look at property and NOT use YOU to purchase the property they find or buy a For Sale By Owner property. Money doesn't fall out of the sky for Real Estate Professionals - we have to work hard, dedicated and smart to take care of our clients. We appreciate loyalty from Buyers - that means we work together better, the Buyer is happier AND  we get a pay day! So many times people think that Real Estate Professionals get rich quick by putting a sign up and collecting a check. Myth Busted!

With all the economic problems we are experiencing as a Nation, we have all been hit one way or another by higher prices. I know my groceries sure have gone up - along with gas, electric and general life's necessities. As Real Estate Professionals our biggest expenses are GAS and ADVERTISING - and yet people will ask us to cut our commission back to get their property listing.  We have bills to pay monthly whether we have a closing or not.  When we list a property to sell, sometimes we unfortunately don't get it sold, but the expense of listing that property is still there. When we have a closing and see a payday we have to spend that money wisely, just like everyone else does. Myth Busted!

 Real Estate Professionals - we are a misunderstood breed, nevertheless, I love my job. I love helping people find a home that fits their needs and budget. I love helping a family downsize or upsize. I love explaining the process, teaching my Agents, and seeing lives changed. I have been able to help first time home buyers get out of a rental; help a divorced person make an adjustment; help a widow sell while grieving; help investors make a good choice for resale value; help people coming in from out of the area not be taken advantage of; help doctors, lawyers and well paid professionals get a bargain when sellers think they have money to spare. Some myths might be out there - buy by counseling my clients I find most people are willing to listen. I do have a trail of satisfied clients and THAT.... is a blessing.

~ Brenda