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Four Common Real Estate Myths Debunked

Most people work within real estate only once or twice in their lives. Because of this, myths about the real estate industry abound, causing confusion among new buyers and misconceptions about real estate agents. We’re here to debunk some of those real estate myths.

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Image via Flickr by 드림포유

Open houses are necessary to sell a house

Open houses provide a great way for potential buyers to look at a home without an appointment. They also attract nosy neighbors and browsers who view homes for fun. Open houses can be a lot of work to put together, so if your agent opts out of using open houses as a marketing tool, as some do, this is because they want to focus on serious buyers and weed out looky-loos trying to get decorating ideas.

Every agent is the same

Just like every profession, there are excellent and subpar real estate agents. While all agents must adhere to a strict code of ethics and regulations, some agents do the bare minimum while others go above and beyond. Researching your agents and agencies should be a priority before choosing which agent works for you.

Major renovations reap major rewards

When you’re selling a home, it’s important to make certain changes to modernize and help potential buyers see your home’s potential. However, big projects can hurt more than they help. Major renovations depend largely upon personal style. What you think is beautiful won’t always align with the ideas of your buyers. Instead, focus on small changes that allow buyers to imagine how they can bring their own style into the home.

You can get a better deal without an agent

Whether you’re buying or selling, a common perception is that you can get money without using an agent. After all, when you go alone, you won’t have to pay commission, right?

Well, it’s a little more complicated than that. If you are buying on your own and the seller has an agent, you’ll be negotiating with an experienced real estate agent who represents the seller, not you. Finding a real estate agent to represent you ensures that you are getting the best price and protects you from making an error that can cost you thousands of dollars.

While it’s possible to sell your own home, it requires a large amount of marketing, negotiating, and knowing where to find serious buyers. An agent receives training in all of this, whereas you’ll have to learn from scratch. Not only is your home more likely to stay on the market for much longer without an agent, you will also be negotiating with agents who have much more experience than you do.

All in all, the commission is a small price to pay for the expertise of the agent and often saves you thousands of dollars in the long run.

With so much confusion surrounding the real estate industry, it’s easy to become overwhelmed. Hiring an agent alleviates the stress of navigating a complicated field and allows you to make educated decisions. Call The House Company today, and we’ll help you begin your journey.