Written by Tyler Brown   |   Posted on   |   215 views

Let’s debunk these common Real Estate myths that you might not know about!

Whether you’ve bought and sold multiple houses, or even if it’s your first time diving into the real estate market, there are probably some falsehoods you’ve heard that are absolutely untrue!  So we wanted to sort out the facts from the fiction of REALTORS®, real estate, and what it takes to make a successful home purchase or sale.

Myth #1: You’ll never be approved for a mortgage.

We see it more often than you’d think.  A person is looking to rent a home because they didn’t realize they would be approved for a mortgage.  But you never know unless you ask!

As mentioned in our blog, To Buy or Rent? Important Advice For Home Renters, mortgage brokers have access to many, many lenders that you may not have heard of.  The big banks aren’t your only option!  By gathering up your pertinent financial paperwork and talking to a mortgage broker, they could tell you what amount you would be approved for, and what your monthly payments would be. 

You never know!  Home ownership might be closer than you think!  

Related: The Basic Steps To Getting Pre-Approved For a Mortgage


Myth #3: All REALTORS® are the same.

When choosing a real estate agent, consider what they bring to the table.  Do they have plenty of 5-star reviews and testimonials from past clients?  What do they do to market your listing?  Where are they searching for homes that you’d be interested in buying?  Who looks after you if your agent goes on vacation?

We believe in the TEAM approach at The Kate Broddick Team.  We put 110% into marketing our listings to one of the largest social media audiences in the area. We advertise constantly, everywhere from billboards to movie theatres to television stations – because we believe in driving traffic to your listing.  We have a HUGE network of buyers, sellers, and agents that we share with, so we’re always up to date on what properties are in demand.  And between our large support staff of Client Care & Concierge, Deal Administrators and a whole Marketing department, plus a team of competent professional agents, you’ll always have the answers you need in a timely manner.

Don’t choose someone who is just going to throw a For Sale sign on your lawn and call it a day.  You deserve more than one real estate agent; you deserve a TEAM.

Myth #6:  REALTORS® make (a lot of) Easy Money

We hear this one a lot.  “Real Estate Agents are just trying to cash in… real estate agents make money for doing nothing.”

Honestly, it’s disheartening.  REALTORS® do a LOT of work that you may not even know about, beyond taking clients to view a few homes and putting a house on the MLS®.  In order to receive (and maintain) a real estate license, agents are required to continually update their courses and do ongoing training so they’re always at the forefront of the real estate market.

Then, when they do list a home, they cover all the marketing costs for your property.  Professional photography, video tours, staging, cleaning, social media ads, billboards, commercials and more cost a LOT for a listing that hasn’t even sold yet.  Those are out-of-pocket expenses that they cover as part of their contract to work for you.  Not to mention the hours they’ll spend reverse-prospecting potential buyers, collecting feedback and analytics from showings and negotiating with buyers, all before ever seeing a dime. 

When working with buyers, they spend countless hours, seven days a week researching potential properties that may be of interest, then travelling to those homes to show without being paid for their time & travel.  Sometimes those buyers walk away without ever purchasing a home.  Would you work that much for your job without any guarantee you’ll be paid?

Even in the event of a successful sale, an agent’s commission can depend on current market conditions.  Then that commission is often split with the cooperating real estate agent and both of their brokerages.  

We encourage our clients to ask us about our competitive commissions and how that money is spent to give you the best real estate experience possible.  

*All information provided by the Brantford Regional Real Estate Association (BRREA) and ITSO for the highest sales volume and highest number of completed transactions since January 1, 2015. All Brantford MLS® House Listings come from the various systems operated by Real Estate Boards and Associations across Canada. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used underlicense. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.



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