Real Estate Misconceptions: 5 Things You Might Think Are True, But Actually Aren’t

Real Estate Misconceptions: 5 Things You Might Think Are True, But Actually Aren’t

It’s easy to assume everything you hear about the real estate industry is true. Honestly, it’s not your job to know, it’s ours. As real estate agents, it’s our job to inform you and guide you through the process of selling or buying a home. That’s why we have compiled a list of common misconceptions in our industry that just aren’t true.

The appraiser is always right
When selling a home, it’s easy to assume that the appraisal is correct and that’s exactly what your home’s value is. That’s just not true, your home’s value is whatever buyers and sellers are able to agree on. However, you don’t want to be too prideful when putting a price tag on your home, if an appraiser estimates your home’s value at $200,000, you can’t list it at $1 million.

Spring is always the best time to sell
This perspective has been around for a long time. Many people believe this because families with kids are trying to plan for the upcoming school year for their children. They want to sell their home and move into a new home while their kids are out of school for the summer. This doesn’t necessarily mean that Spring is a better time to sell, it’s just better for families with kids.

If you are a single couple or empty nester, this doesn’t apply to you. It’s actually the exact opposite, winter is the better time to sell. In the colder months the inventory of homes is a lot lower, so potential buyers don’t have as many options.

Open houses are so last year
Being in the digital age, people assume that potential buyers will only want to look at homes online and then schedule an appointment. You have to look at open houses as more potential buyers in your door. Holding an open house gives you more opportunities to allow buyers to see your home and better your chances of getting an offer.

You have to have a 20% down payment
Sure you still have to have good credit, stable income, and many more things working in your favor to buy a home, but you don’t have to have to put 20 percent down to be able to purchase your home. It is possible to get approved for a loan with a much lower down payment.  

A real estate agent isn’t necessary
Just because a home is listed for sale online, doesn’t mean you should completely rule out using a real estate agent to help you in securing your home. Real Estate agent’s are aware of how the market works, they know the industry, and know how to negotiate to get you a great deal. They’ll be your greatest adviser in carrying out your home buying process; a process that can be stressful and emotionally draining, but so rewarding in the end.

When it comes at no cost to you anyways, what does it hurt?

 

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