You may have heard horror stories about REALTORS® but do not believe everything you hear, in most cases it turns out to be nothing but a myth. Your REALTOR® is hired by you with a signed representation agreement which states fiduciary duties, obligations, and rights for each party.
A professional REALTOR® seeks to perform at the highest ethical standards in order to gain a client for life, not a transaction. Here are some common myths that need to be addressed about our San Antonio REALTORS®
Myth: REALTORS® are never on time for appointments.
Truth: REALTORS® are professionals and always schedule client meetings in order to dedicate their time for each client. We do not rush our clients when we meet with them and care in scheduling is always taken into consideration.
Myth: REALTORS® don't like to show homes they have listed for sale.
Fact: A REALTOR® has a fiduciary duty to their clients, which includes buyer and seller representation.Even if you are not represented by a REALTOR®, the listing agent should be happy to show you this specific property since they are doing what is best for their client, the seller.
Myth: Your real estate agent will do anything you ask of them, especially if it involves commission.
Fact: REALTORS® are bound by a Code of Ethics and are subject to penalties, fines, and even legal consequences that may include suspension or revocation of license, even jail or prison convictions. If it is illegal or unethical, a professional REALTOR® should decline and even terminate the business relationship.
Myth: REALTORS® make a lot of money from commission.
Truth: The majority of REALTOR®/BROKER relationships require that the broker take a certain percentage of the agent's commission since the broker is sponsoring the agent's license.Do not assume that the REALTOR® keeps 100% of the commission, in fact, errors and omissions insurance is often paid to the broker along with the agreed broker's cut.