Let us tell you how things work for the realtors!
The Cayman Islands is a rapidly growing economy. Along with the locals, it is also attracting the foreigners who are investing in the Cayman Islands properties either to get commercial returns or to permanently settle in the region! If you are someone looking for a property to buy or rent in the Cayman Islands, you can take help from the Cayman Islands real estate agents. But before you head out for “home shopping”, we shall tell you a few widespread myths about the Cayman Islands real estate companies and their agents. This will ease your house search as you’d be able to build credibility with your estate agents and know the true story! So let us destroy a few realtor myths for you!
That it is an easy job: When people talk about agents, they think that all the agents are making a wonderful fortune and driving in expensive cars; but in reality, it is only the niche of 15% who are doing that exceptionally well. Everyone begins to earn well over the period of time, but for those who get into real estate with the view of making good money quickly – they should know that the industry pays well, but you need to invest two things: TIME and EFFORT!
It is pure business and no personal association: People think that the estate agents are in it only for the money, but in reality, they work with some clients for years and then the client makes a move, all the work is left unpaid and they may not even make a commission out of it – EVER!
It is not the case to just list down the desired price range, number of bedrooms required, the areas preferred – we need the reasons behind it! You can only extract the reasons if you foster a relationship with your clients!
Real Estate Agents are never punctual: Not being on time is something not associated with any type of profession – be it a doctor, lawyer or a realtor! Everyone deserves to be known for the work they do. Yes, we do agree that there may be some realtors who don’t arrive on the prescribed time but there are others who would arrive before their clients actually do. Never let a few bad apples give you a false perception of the entire industry.
Didn’t you ever rush for a dentist’s appointment and find that the dentist himself hasn’t even arrived and patients who booked an appointment before your slot?
Agents should tell you about the social conditions of the area you are planning to settle in: In most cases, the laws in any city prevent the realtors to discriminate areas against any of its social conditions and stigmas associated to them. This will automatically prohibit the agent from disclosing facts about the crime rates, schools, neighborhood and ethnic makeup of any area and its catchments.
Those who tell you otherwise are certainly misinformed! You cannot blame your estate agents if they do not disclose these (area facts) information regarding an area. You are going to live in that area and you will have to do research about it. The estate agent has to get you only a desirable house, and it should be considered a well-done job!
Real Estate agents would hide serious facts about a home to make a sale: As a realtor, one is legally required to disclose issues about a property to all its potential buyers before it is sold. They cannot do it, because hiding serious information regarding the property can land them into lawsuits and make them liable to heavy financial penalties and damage their reputation for a lifetime! This may even cost them their professional licenses thus, any experienced realtor won’t make such a mistake. Here goes another myth, down the drain!
Most people believe that anyone can be an estate agent. Most agents stop pursuing the real estate agents’ career after a few years of hard work! The vast majority of agents are not very successful and don’t make a lump-sum despite working days and evenings throughout the week. It takes talent, intelligence, competency and time to become a realtor and flourish as one!