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Myths About Real Estate - Debunked!
Dated: July 19 2021
If you’re in the market to buy or sell your house, you’ve probably had some advice thrown your way from friends, family, and colleagues. However, there’s a good chance that some of the ‘age-old’ real estate tips just aren’t true, so we’re here to debunk common myths about real estate you might hear in the process of buying or selling a home.
“All agents are the same.”
No! This is absolutely untrue. No two real estate agents are the same. All agents differ in flexibility, commitment, handling negotiations, and so much more. Every real estate agent will approach a transaction differently and you want an agent that will put you and your interests first. Do your homework on local agents you might be interested in. Looking at reviews and testimonies is an important part of choosing an agent that will best represent you and your end goal. How well does this agent know the local housing market? What kind of resources are available to me if I work with this agent? Are they responsive and flexible enough for me?
“You need to redo your kitchen and bathrooms before you sell.”
While renovations can add value to a home, lots of buyers are looking to put a personal touch on the home they buy, anyways. If your kitchen and your bathrooms are fully functional, there is no reason to redo them. If you feel the space is outdated, adjust the price of your home to reflect it!
“Get pre-approved after you’ve found our dream home!”
You need to get pre-approved before you go house shopping! By getting pre-approved before you go, you know your price range and you won’t get hung up on a beautiful home you cannot afford. Not only does it save you time and possible heartbreak, being pre-approved will give you a one-up on any buyers that put an offer on the same home as you who haven’t been pre approved. Pre-approval also shows a seller you are really serious about purchasing their home and have the funds to do so.
“Selling your home ‘For Sale By Owner’ will save you a lot of money.”
Selling FSBO will not save you money. In the end it could very well cost you even more money than if you had just listed with an agent. Agents can provide you with insight on the local market, access to local vendors, and just save you a lot of stress in general. FSBO’s are often priced too high and out of conjunction with similar homes in the area, therefore making it harder to sell and tacking more time onto the process. Agents also have the resources to market homes to a broader audience and help find a suitable buyer. Save yourself the time, money, and stress and find a good listing agent in your area.
“You don’t need a home inspection!”
With today’s housing market leaning towards “buy now, ask questions later”, many buyers have been forgoing a home inspection. You should not do this. It is incredibly important to get a thorough home inspection done before the transaction is complete! Home inspectors are trained to look for the things that you might not see and can lead to some seriously unpleasant surprises down the road. A home inspection makes sure your house is safe and gives you peace of mind. Don’t skip it!
“An agent will tell you anything to make a sale.”
The unfortunate truth is that, yes, some agents lie. However, any good agent is going to be focused on you and your goals over just making a sale. Agents are held to a strict code of ethics and are required by laws and regulations to be honest. Not only is your dream home on the line, but so is their license! Good agents will always be transparent and upfront with you, because they want to see you succeed. Reputable agents really do care deeply about their clients and seek to form a connection and friendship throughout the home-buying process. Don’t lump all agents into this category, because most agents are absolutely trustworthy and upfront with you when it comes to selling/buying a home!
“List the home high.”
No, don’t do this. It is well known that homes almost always sell at market value. Pricing your home high will deter potential buyers and it will linger on the market. You might even end up selling it for less than market price, because the high price scares away anyone that might have been truly interested and you’ll have to settle for a lower offer. Homes that sit on the market for an extended period of time can scare buyers away, because they think “What is wrong with it and why has no one put down an offer?” When the house gets appraised, it will show it is not worth the listing price and you’ll have to negotiate down anyway.
If you’re looking for an agent that will be invested in YOU, look no further! As a Manhattan and surrounding area native, I’d like to say I know the market pretty well. Honesty and reliability are the most important qualities for me as I help you navigate the real estate world, whether it be buying, selling, or investing! Contact me today!
Manhattan, KS: Brice Ebert of Resource Real Estate Group was featured in the Kansas Edition of Top Agent Magazine in January 2021. Top Agent Magazine is the premier real estate magazine featuring the ....
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