Hi Lew Corcoran 

     I see six (6) question marks.  Let me take them one at a time.

Common misconception:   The National Association of Realtors has the best interests of the Members at heart.  NAR has done and will do wonderful things for us.  

Myths about the ease of closing deals:  Just sign here, and within a few days you the Buyer will have a house, the Seller will have their equity money, and I the Realtor will have a big fat commission check.

All Clients are informed Buyers:  The internet has made geniuses out of everybody.  "I googled it; that's how I know!"

Market trends are uniform everywhere:   Whatever USA Today, Wall Street Journal, and Zillow say is gospel; it applies to every market including mine - you can take it to the bank!

Mistakes made by believing in these misconceptions?   Make sure your E&O is paid up.  And make sure you have either money in the bank, or another stream of income.  You will NOT make any money; you may find yourself facing angry customers and clients (in Court or elsewhere).

Continuous learning:   back to the NAR example.  We once had an MLS with an announced "split", and clear cooperation.   Not anymore!

That what it takes to succeed in real estate is "liking working with people." That all we do is ride around all day looking at "pretty houses." You can't imagine how often someone tells me they are thinking about becoming an agent and when I ask them why those are their answers.

Also, that real estate school teaches you real estate... it does nothing of the sort... it just teaches us how to stay out of real estate jail.

There are so many misconceptions, but I think that you already nailed the biggest one since it is not as easy as we make it look, haha.

A common misconception is that this job is easy and is a fast way to easy money.

When I first got my license, I knew that I still had a lot to learn. My broker offered a program with a teacher/mentor that provided information that I needed, including information that I did not even know that I needed. I am forever grateful for that experience.

Lew Corcoran

Without that 'fire in the belly' excitement, this will be a hard, if not impossible, first year or two.

Hello Lew Corcoran an easy job and make lots of money is the common misconception for new real estate agents about real estate industry.

Lew Corcoran - One common misconception about the real estate industry is if you pass the Tests you are licensed. Most do not know they need to choose a Broker, pay Broker fees to join the brokerage, pay fees to join the Board, Pay fees to join the Association, pay NAR fees, Pay MLS Fees, buy lock boxes, pay other fees including all their own expenses, and the most important misconception about all these misconceptions is whatever they knew on the test doesn't teach them how to sell real estate. They need to get trained and take a lot more classes! Oh, I almost forgot, buyers don't just stroll in or call for any realtor, nor does the Broker hand a new Agent clients, you have work to get your own buyers and sellers!

All good points within your question Lew Corcoran . I will share the lure of the money from agents believing all they have to do is rope a buyer or seller & ouila! payday! Once more, the belief that you have a license to make money is only half true. The how is missing. Lastly & unfortunately, newbie or inexperienced or negligent unprofessional agents practice on real live people leaving them, in some cases worse-off for the transaction & poison the Real Estate well & perpetuate bad word of mouth. Who knows Lou, maybe A.I. will humble them some

Many people perceive real estate as a job, but the moment you obtain your license, you are actually investing in your own business—something that only you initially know you opened. To succeed, you must proactively create awareness and communicate your value, or you'll risk becoming part of the 80% of agents who fail to renew their licenses. Real estate is not a solo venture; it thrives on RELATIONSHIPS: networking, coaching, partnerships, and teamwork. It’s a contact sport, requiring you to connect with others face-to-face, engage in meaningful conversations, and build relationships—through many, many handshakes and friendly hugs. You're 1099 now baby, lose the W-2 mentality and embrace entrepreneurship! It's a Good Life!

New agents should be aware the the general public has the misconception that you know all there is to know about Real Estate. They often assume you went to college for four years to earn the title Realtor. The New agent mistake is to play along and "wing it" when asked questions they do not know Lew Corcoran 

Real Estate is a simple business, but it is not easy. One must be actively engaged in all aspects of Real Estate to broaden one's knowledge. It's moew than showing, listing properties, and collecting a check.

The most common misconception is how easy the business is and how much money you can make. New agents don't know what they don't know and likely close to 90% don't last two tears. 

That there is more to being a Real Estate Agent than posting Tik Tok videos.

The greatest mistake most make it that they think the licensing training actually prepared them to sell real estate.

I think most agents think that it is easy.  Patience is a must virtue to have in dealing with clients.  Agwnts hould develop skills to make them an "expert" in a certain niche. Continuos learning is a must as the game keeps changing.  Fundamentals may remain rather static, but nuance and tweeking of the game and rules requires constant learning.

New agents don't KNOW what they don't know.    I had one the other day, one year in the business, and she was demanding and very pushy.   THAT attitude in this industry won't work.   

Hi Lew - I just read Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP post as inspiration to this question!  Good one!

Let's not forget that real estate agents drive around in expensive cars!!

I rarely read answers before submitting my own but, I'm so late to the party, I couldn't resist! I have to say, Fred Griffin Florida Real Estate & Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP & Patricia Feager all hit the proverbial nails on the head! 💯

As so many others have stated, real estate is easy and easy money. 

Real Estate is not a job - it is a business. Most new agents don't understand that. 

Real estate schools are a joke, and so is the continuing education. We learn from mentorships and being in the trenches with boots on the ground. 

The misconceptions abound and that surprises me. One would think that everyone would be as smart as we are by now.

After all, they have Zillow . . . 

M: We are millionaires after a year or so of 'practicing' and I mean PRACTICING.

M: A few years in (single digits) and we 'know it all' or are expected to or SAY WE DO. That M goes in all directions!

M: (this is a recent one) We are ALL out to screw the consumer bc a couple of assholes and a lawsuit said so.

M: At the end of a deal we are suntanned and rested with a fat check. 

M: That no matter what happens we make as much money as a doctor or lawyer. 

M: That we can give legal/financial advice. And that we are expected to.

M: That WE DO ALL and the consumer does NOTHING but bring money to escrow. 

M: We don't all know each other and talk to each other esp in small localities. LOL

M: WE ARE OBLIGATED TO WORK WITH YOU REGARDLESS OF HOW RIDICULOUS YOUR DEMANDS ARE. In caps for emphasis. 

You have a license, you don't know how to fly. No experience, no DB supervising you and whoa. Watch out. The mistakes in learning the businesses are expensive and hope you have savings, a partner who has an income starting out Lew Corcoran.

They believe that they will do lots of business right away.  They need to have money to market up front.

The #1 misconception I see and hear still to this day is that it is "easy money" or something someone can have as a "side gig/job" and do well at it.

I think it is a misconception that Realtors compete with each other when in fact we work together the majority of the time.

From a Notary Loan Signing Agent perspective, one common misconception I often see among new real estate agents is the belief that once the deal is cleared for closing the transaction is done and on auto pilot.  I’m at the table for that final, critical step, and I can tell you firsthand that this stage is anything but simple or guaranteed. Many agents assume that once a buyer or seller has signed their respective agreements, the rest is just paperwork to be signed. In reality, the signing process can be full of last-minute surprises, confusion over loan terms, commissions and sometimes deal breaking misunderstandings.

Yes, believing that all clients are informed and understand what they’re signing is indeed a widespread myth. In my experience some borrowers are overwhelmed by the volume and complexity of loan documents, commission calculations and who's responsible for what. That’s where my role becomes vital ensuring they feel confident, informed, and comfortable before signing. If a real estate agent assumes their client fully understands everything without checking in or preparing them, it can cause major delays or even result in a rescinded deal.

I often do closings for transactions in multiple states, and I see how local factors like tax differences, resident/non -resident tax responsibility, or even HOA rules can influence a signing. Agents who don’t stay current or adapt their approach to each area risk giving poor guidance or missing key details that comes alive at the closing table.

Continuous learning isn’t just helpful in real estate, it’s essential. Regulations change, lender requirements shift, and technology is constantly evolving. For Notary Signing Agents and real estate professionals alike, staying informed is the only way to truly serve clients well and protect the integrity of the transaction.