It’s  really amazing how much wrong information consumers have about  Realtors, and buying or selling a home.  That’s why I’m going to help  you cut through the fiction to find out the real facts, to debunk  Realtor myths!

1.  Working with a Realtor will cost me money:  While many brokers  impose transaction fees ranging from $95 to $495 at closing which are  ultimately a part of your closing costs, it really does not cost you any  money to work with Realtors.  The fees actually go to the broker to  cover their transactional costs.  Working with a Realtor will actually  save you time and probably money too if they negotiate hard for you.  A  good Realtor will help you every step of the way from negotiating price  and terms that favor you, to helping you find potential issues with a  property that you may be interested in.  If you are a Buyer, your  Realtor’s commission will be paid by the Seller, so essentially working  with a Realtor is free! 

2. If I use the listing agent who’s name is on the sign, I’ll get the  best deal:  When a Realtor is the Listing Agent for a property, they  are duty bound to represent the Seller’s best interest at all times.   Often times you might be passed off to a team member who is working with  the Listing Agent, but ultimately, they may receive an extra percentage  of the commission if they or their team member represents you.  Every  Realtor is duty bound to represent their client’s best interest, but if  you have a Realtor unrelated to the sale of a certain property, than you  can be quite sure that they are looking out for you and only you!  Now  it is legal in Virginia and DC to handle both sides of a transaction  (both Buyer and Seller) as long as you disclose this fact to all parties  of the transaction.   I personally have represented both parties  (disclosed dual agency) on many occasions, and both the Buyer and Seller  were happy with my service, so it certainly can be done fairly, but you  have to be very comfortable with your Realtor!  As a side note, in a  bidding war, it may help to be represented by the listing agent as they  do have an inside track on what is really going on in the multiple offer  scenario, but remember, it is there job to keep the Seller happy!

3.  Only certain Realtors can show certain properties:  This is a  total myth!  As a licensed agent, with access to the MLS, and of course  any properties that they may know of that are not yet on the market, a  Licensed Realtor can help you with anything on the market, from any  broker even if it is not theirs! 

4.  It’s best if I just surf the web to find what I want, then  contact a Realtor:  This is a myth, especially if you value your own  time!  Surfing Trulia or Redfin or any other site might be good to get  an idea of what’s out there, but Realtors can do extremely specific  searches catered to your list of “must haves”.  Want a 2 bedroom condo  with a balcony and garage parking that is dog friendly?  No problem!   Want a house that has at least 3 acres and perhaps horse stables too?   No problem.  A good Realtor will get your list of “must haves” from you,  and plug them into a search that they can automatically deliver to you  every day, the moment a property that meets the criteria is put on the  market, or even weekly.  A good Realtor will listen to you and help you  find the perfect home for you at the perfect price!  Why waste your time  on endless searches! 

5.  If a Realtor specializes in a certain neighborhood or building,  you should only use them:  This is a myth!  While it is good to know the  ins and outs of certain communities, any Realtor can study the recent  sales and market trends in any neighborhood or building and give you  expert advice on pricing and amenities that pertain to that specific  property.  Experts also usually have teams of people working with them,  and you might very well be passed off to a team member.  I handle every  aspect of a Real Estate Transaction personally for my clients!  

6.  I don’t have to sign a Buyer Broker Agreement to Work with a  Realtor:  While each state has their own laws concerning Agency, in  Virginia, you now do have to sign a Buyer Broker Agreement to see a  house with a Realtor.  It would be illegal for me as a Realtor to show  you a home without a signed Buyer Broker Agreement.  This became law  July 1, 2012.  It was implemented so that Buyers know who is  representing them in a Real Estate transaction.  It is there to protect  both the Buyer, the Realtor, and the Broker from any misunderstandings.   It covers the length of the agreement, the amount the broker will be  paid when you purchase your home, and also many other areas of the real  estate transaction.

7.  I should just look at homes to see which ones I like and then  I’ll get pre-approved for a loan from my bank when I’m ready to write a  contract:  This is definitely a myth.  Since the housing crisis, lending  has become very strict.  While restrictions are easing a bit lately, it  is still tough to get a loan these days unless you are very qualified  for it.  If you think you can afford a $500,000 home, you might be  surprised to find that you might be pre-approved for significantly less.   This is why it is important to get your pre-approval before you go  house hunting.  You don’t want to waste your time and certainly Realtors  don’t want to waste their time working with clients who aren’t taking  the home buying process seriously.  Get pre-approved as soon as you know  you want to buy a home.  The pre-approval should be good for about 3  months, unless your financial situation changes.  Also, never make a  major purchase, like a car, when you are in the process of buying a  home.  This might void your pre-approval!  

8.  The home buying and selling process is quite difficult and  stressful:  While of course making the largest purchase or sale of your  life causes stress in many people, if you are working with a Realtor who  knows the process, and is helping you every step of the way, than you  will be able to anticipate any problems, and have a clear understanding  of what is happening at all times.  Communication is the key.  I have  worked with many emotional clients who really thought they would never  be able to handle it.  As a Realtor you have to be part therapist,  accountant, friend, and adviser all at the same time.  I enjoy this  aspect of the job, and I love meeting new people and helping them  through the process ensuring their happiness along the way.  It is  always a huge complement to receive a referral from a past client!  

9.  The most recognized names in Real Estate are the best Realtors to  work with.  This is a myth!  The public mostly perceives this to be  true and therefore those agents whose names are all over your shopping  carts and bus stops on signs are always quite busy.  They might very  well be too busy for you and pass you off to their team member.  Whether  I am working with just you, or a few clients at a time, you will never  know.  I strive to work on my client’s schedule, and also to be there  when you call or email with questions!  Why not work with someone who  has time for you and can work with you on a one on one basis! 

I hope this cleared up some of your misconceptions about how the Real  Estate world really works!  Whether buying or selling, be sure to work  with a Realtor who will be there for you, and look out for your best  interests every step of the way! 

Ivan Katz is a licensed Realtor in DC and Virginia. You can reach him at inkrealtor@gmail.com

**Realtors are not accountants, lenders, or lawyers so if you need  legal or financial advice, you should seek out a professional.**

 IVAN's REVIEWS FROM CLIENTS

• Douglas McCauley reviewed Ivan Katz
• 04/02/2016
• Helped me buy a home
• I have worked with Ivan for four years.  He has helped me buy 2  houses and sell one.  I can honestly say working with him is more like  having a friend by your side than an agent just trying to make a sale.   As my Great Aunt Nannie Burroughs would say-- "A friend in need is a  friend indeed."
     
•                         
• Ronisgirl1026 reviewed Ivan Katz
• 09/18/2013
• Helped me buy a home
• Ivan also helped us purchase a condo in Washington DC while he was  selling our condo in Alexandria VA. He never wavered about dragging me  ALL over DC no matter what time of day it was! We settled on a condo in  Chinatown and love it!!! Ivan took care of everything....all I needed to  do was come to the closing. He's a remarkable realtor!!!
     
•                         
• ctshen1000 reviewed Ivan Katz
• 09/15/2013
• Helped me sell a home
• When we decided to sell our residence at 3816 Colonel Ellis Avenue,  Alexandria, Virginia in the summer of 2011, Mr. Ivan Katz was our  listing agent. He had helped us prepare the sales contract, negotiate  with buyers, and lease the property back for us. Because of his  expertise in the field of real estate, we were able to get the highest  selling price at a depressed market. He had also helped us resolve an  issue regarding air conditioning with the buyer; an old system could  have cost us big bucks to repair if Mr. Katz had not otherwise convinced  the other party. In truth, we really appreciated what he had done for  us. His professionalism will speak for itself when it comes to the real  estate transactions. It is our pleasure to do business with him in the  future. He is the real estate agent we would highly recommend if any one  needs help for real estate transactions in the northern Virginia.
  Chung T. & Fei C. Shen
  Irvine, CA
     
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• Justin.Stieler reviewed Ivan Katz
• 09/12/2013
• Helped me buy a home
• Ivan was a fantastic agent. I knew very little about Arlington when I  began the process, and he helped me develop an understanding of the  neighborhood & found numerous properties that suited my needs. He  dealt effectively with the seller's agent, and negotiated an excellent  deal. I would definitely use him again if I was to sell my condo and/or  purchase another residence.