3 Common Real Estate Myths

Every year, buyers and sellers put their faith in common real estate myths only to be burned later on. With this, here are some of the most common real estate myths that people need to stop listening to.

You should price your home higher than the market.

In most cases, it is not in a buyer’s best interest to overprice their home. While it is easy to want to get greedy (especially in a sellers market), this is not typically a wise decision. This is because nowadays, people can easily determine whether a listing is overpriced. The average buyer can jump online and see what comparable homes are currently selling for. Also, buyer agents will alert their clients if they know a home is overpriced. By pricing your home high, you run the risk of alienating yourself in your market.

All real estate agents are the same.

Not all agents are equal. However, many people believe that they are a dime-a-dozen and do put enough consideration into who they decide to hire. Typically, you want to choose an agent who has experience working the local areas, can have several positive reviews/references, and someone you could see getting along with well from a personality standpoint. Do not rush into choosing an agent because they can make or break your real estate plans.

You will save money by not using an agent.

Many people are reluctant to hire an agent to assist them because they do not want to pay commission fees. It cannot be overstated how much value a good real estate agent can bring to the table. For example, an experienced agent will know how to negotiate offers and help your home sell faster. While it may be tempting to try to buy and sell on your own, you will not necessarily save money by not hiring an agent.