Busted! Don’t Believe These Real Estate Myths!

Author: John Moniz | | Categories: Property Listings , Real Estate Investing , Selling Home

Busted! Don’t Believe These Real Estate Myths!

Whether you’re buying or selling a house, there is always a considerable amount of stress that is associated with completing the process. Often, adding to the pressure are the old wives’ tales and misconceptions about real estate that are doing the rounds. However, when a person keeps hearing the same story over and over again, they start to believe it themselves.

To stop the spread of these misconceptions, we’ve debunked a few of the most common myths in the real estate sphere.

Myth 1: Buying privately saves money.

This myth exists because home buyers are under the impression that the seller will sell for cheaper because they don't have to pay an agent. This isn’t always the case, and I usually tell my buyer clients the same. We have seen sales in the past where buyers paid more than the house worth because they rushed to make a deal privately.

A buyer should be extra cautious when buying directly from the seller and should always obtain a buyer agent before making an offer. The agent will have the right tools to make sure the house is not over priced. In some cases, the agent can negotiate a better price for the buyer.

Myth 2: Selling a home privately is safe and will save you money.

Private sellers think that they always save money on the commission when they sell privately. This isn’t entirely true. Also, homeowners should be aware of who they let in their home. There is a possibility that someone with bad intentions comes knocking on your door. And the problem is that the homeowner lets them in and in most cases they let a complete stranger into their home while their family is home, putting everyone at risk.

The first thing I ask my seller clients to do when I have a potential buyer who wants to see their house is to leave the house during the showing. Safety has no price, so why put your life and your family's life at risk to save a few thousand dollars?

Myth 3: All Real Estate Agents are the same.

I hear this very often. This myth can lead to buyers and seller making a terrible mistake in selecting an agent to represent them. There are agents with different levels of experience and skills.

An agent that has only been in the business for a couple of years does not have the same degree of expertise as someone that has been selling for twenty years or more. The same goes when it comes to the different fields in real estate. An agent that usually sells commercial properties may not be the best choice when it comes to selling a single family home and vice-versa.

Being a real estate agent is not a piece of cake, however, if you’re looking for an agent to make buying or selling your home a cake walk, get in touch with John Moniz. If you have any questions about how I can help you, I’d love to hear from you. Contact me here.