Common Real Estate Myths Debunk’d
Myth- Any invented story, idea, or concept
All Real Estate Agents Are The Same
This could not be further from the truth! The general buying and selling process may be the same, but everyone specializes in different aspects. An Agents ability to negotiate, as well as their responsiveness, and flexibility can set them apart from others. The resources they have are different for everyone. It’s a matter of finding the perfect agent that fits what you need. If an agent is seemingly pleasant to work with other agents want to work with them as well, and likely get the job done a lot quicker.
When Selling A Home Price High To Leave Room For Negotiations
Wrong! Over pricing your home can lead to it staying on the market for longer than anticipated. If you work with an agent you can see what other similar homes have sold for in the market to compare. If buyers think the home is overpriced it will sit on the market until adjustments are made. The longer your house sits, the worse it looks.
You Get A Better Deal When Buying A Home Through The Listing Agent
You may think this is the ideal situation, but think again. While the listing agent needs to be honest and fair They still need to represent the sellers best interest. A listing agent will likely not negotiate the price down with the seller they’re representing just for a random buyer they are not representing. Buyers agents represent the buyers best interests.
Agents Can Show You Any House They Want
False. As a buyer you have to be under contract with an agent to have an agent show you homes. Also, a listing agent for a seller isn’t obligated to show a buyer a listing if they’re represented by another agent, unless that agent requests that the listing agent shows the home. If a client has made it clear they are not going to purchase a home and are not under contract, that they just want to look for fun, then you as the agent can politely decline. You are not obligated to show homes to people who are not your clients. You can let them know when they are ready to purchase that you will be more than willing to show them homes that fit their criteria and budget.
Selling A House For Sale By Owner Saves A Lot Of Money
Wrong again! People think selling your home FSBO (for sale by owner) will help them save money the transaction/agent fees. Selling a house isn’t easy. When you have an agent your house could be put on the MLS where everything is up to date where most buyers look, rather than relying on a sign or for word to get around. Theres also a lot of legal work involved with the transaction of real estate, so if you’re unfamiliar with what the contracts are stating it’s always better to work with an agent that can explain everything to you.
Getting Pre-Approved Is Done After Finding Your Perfect Home
False! Getting pre-approved happens before you start your home search. It gives you a clear idea of what your budget is. Many buyers think that getting pre approved comes after you’ve already found your perfect home- which is completely false. A buyer may find the perfect house, write an offer on it, and then get denied by the mortgage lender, missing out on their chance for the house. Also when in a bidding war on a home, having been pre approved already shows that you can afford the house which gives an advantage.