You may think you’ve gotten the real estate market figured out, but Lake Homes Realty’s CEO, Glenn Phillips, has 6 surprises you probably didn’t know about.
- Not All are a Realtor ®: There’s a difference between being a real estate agent and being a realtor. Real estate agents must become a member of The National Association of Realtors to achieve the status.
- What Their Training Includes: Most of their mandatory training involves learning the legal aspects of real estate such as contracts and state-specific laws. It doesn’t include soft skills like negotiation and real estate marketing.
- Less than Half are Full-Time: Because the threshold to obtaining a real estate license is lower than other forms of education, this is a part-time commitment for most agents.
- 1 Out of 70 Adults: There is a large number of people that hold an active real estate license, meaning a lot of people, with varying skill levels, can represent someone in a transaction.
- Top 5% Land 10% More $: The top 5% of agents alone are able to make drastic amounts more for their clients because they have more experience in their market and have been trained to become a well-rounded agent.
- May Not Be Representing You: A Buyers Agency Agreement is a secure way to ensure the agent you are communicating with is working in your best interest. Before making this commitment, however, it’s crucial you research the agent thoroughly.
Real estate can be tricky when you don’t know what to expect. Keeping these tips in mind before beginning your home search will help you navigate the market with ease.