There are a lot of common misconceptions surrounding real estate agents and real estate in general. Let us set the record straight by debunking these 7 common real estate myths:
Myth #1 — Agents get incentives to recommend lenders/title companies/inspectors.
This is definitely untrue—against the law, actually—thanks to the 1974 instatement of RESPA: the Real Estate Settlement Procedures Act. This law prevents any type of kickbacks or favors to real estate agents from vendors which means that any recommendation from an agent is typically based on his/her experience with that particular individual. By recommending them, the agent is only trying to make sure you have an efficient process.