While the real estate business is a tough one requiring realtors to stay updated with the current market trends, new listings, property staging and client needs, there are several myths which have shrouded the industry and profession at large.
The real estate industry harbors plenty of the superstitious, grape vine stories which has in some cases harmed the chances of home buyers or sellers to make the best financial decisions. To ensure that all property owners and buyers get the right information needed to ensure an informed decision, below are some of the common myths regarding the real estate industry.
1. It does not matter what real estate agent you hire. They are all the same.
This is one of the biggest myths and misconceptions surrounding the real estate business. Contrary to the myth, the choice of a real estate agent matters a lot. Choosing the best real estate agent for selling your home allows you enjoy adequate listing and a connection with other top real estate agents in the network thus aiding the sale of the property. As a home buyer, the choice of your real estate agent can affect your chances of getting the best properties and also affect the final closing costs.
2. You can get Pre-approved after you find a home.
The real estate business centers its operation on timing of processes and as such, most home buyers lose out on great deals because they have been misled to think that they need to wait until they find their dream home before putting their finances in order. The truth however, is, it is always best to be pre-approved for a mortgage loan before setting out on a house hunt. Getting your mortgage approved ensures that you have a budget on what to spend on the home and cut your coat accordingly.
3. Selling Home By Yourself Saves You Money
This is perhaps one of the greatest misconceptions in the real estate business. This is so because, most homeowners seeking to sell their properties, in the bid to avoid paying a real estate agent have undersold their properties or failed at successfully selling it. A real estate agent boasts of the needed expertise and experience which can be applied to guide the homeowner in setting the asking price, setting up home inspection, staging the property, negotiating prices and completion of required paperwork.
4. Setting Your Home’s Price Higher Gives Room For Negotiation
Most homeowners buy into the idea of hiking the price of their properties to allow room for negotiation. This major misconception has however scared several potential buyers away/. Setting the asking price too high or overpricing your home scares buyers away, keeps you home on the listing and in the market for longer periods and further depreciates the value of the property.
5. Real Estate Agents Will Say Anything To Close The Deal
While it is true that the real estate agent will get nothing until the deal is closed, a common misconception is that a real estate agent will say just about anything to get buyers to pay for the property. A reliable, professional and certified real estate agent is bound by rules and regulations which ensures that they disclose all needed information to buyers. This is in addition to the fact that realtors rely on referrals from past client to get more business.
To learn more about selling your home and how the closing costs is calculated, visit How Much Are Sellers Closing Costs In Jacksonville FL