Myths about Real Estate

Have you had someone tell you something they believe was a fact about buying or selling a home, only to find out it wasn’t true?  Agents combat this quite often, so here are a few of those myths we would like to debunk.

1. You should apply for a mortgage after you find your dream home. 

We encourage buyers to get preapproved so you know exactly what you can afford.  It also makes the seller a bit easier knowing you have a preapproval when making an offer on their home.

2.  When you are making an offer on a home, you should always start low.

Not necessarily.  Starting low can actually make you lose the property if there are other offers on the table and it could cause “insult” to the homeowner so that they flat out reject your offer.  It is a good suggestion to stay at or near market value with your offer.

3.  Getting a real estate license means you will make a lot of money very fast.

Not true at all.  In fact, we tell agents you should have 3-6 months of income in the bank if you plan to do real estate full time.  Real estate agents invest a lot of their time and own money into their business and even when they do make a sale, they only get a percentage of the commission.

4.  Selling your home on your own can save you money.

Not always true.  A good real estate agent has the knowledge and experience that can get you more money and bring a larger portfolio of clients to your home.  They also will expose it to other agents and all their clients making the chances of an offer much better. 

5.  It is always best to sell your home in the Spring.

It would seem that spring is the best season to sell your home, but the truth of the matter is that homebuyers are out all year round, even in the winter.

Though these are not all the myths of real estate, it is a good example of a few.  If you hear of any out there and have questions, please give one of our fine agents a call and let them tell you the truth and not a myth.