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Top Myths about Real Estate

A myth can be defined as “any invented story, idea, or concept.”  

Just because you just heard something from someone or read something on the internet does not mean it is true. Those could probably just an invented story by someone or it’s basically their own point of view. As an Agent you have to be prepared to give proper guidance to your buyers and sellers, so they make the right decision, rather than just take what they hear.

Selling A Home “For Sale By Owner” Saves Lots of Money
One of the main reasons sellers believe that selling their home or property “for sale by owner” (FSBO) can help them save lots of money.  This is a common real estate myth. FSBO believe that selling homes is easy. It would be great if selling homes was as simple as putting a for-sale sign in the front yard of a home, input the home into the MLS, and wait for it to sell, but it is not. FSBO’s usually end up losing money by not hiring a professional real estate agent.  This could be due to several different reasons. First FSBO might overprice their home and it didn’t sell for 6 months.  Or the transaction mishandled ending up in a buyer being declined after 3 months under contract.  Probably the FSBO do not know how to negotiate the best price and terms for their home.

Getting Pre-Approved Is Done After Finding Your Perfect Home
This is one of the hardest myth to break for real estate agents relates to financing.  A lot of home buyers believe that getting pre-approved doesn’t necessary to take place until they have found their dream home.  This is big mistake for some reasons. Finding a home takes a lot of process. It could also be frustrating, exciting and time consuming.  A buyer can be devastated if they find a home they like, write an offer, and have it accepted only to find out in the future they have been declined for a mortgage.

Real Estate Agents Only Can Show Their Own Company Listings
It doesn’t necessarily mean that Real Estate agent can only show their own company listing. This definitely not true. Real estate agents who belong to their local real estate board and MLS have access to any listing that is multiple listed. Meaning, If a Real Estate agent works for a certain company, they can also show properties that are currently listed by other Real estate companies and that’s a fact.


Credits to:

Kyle Hiscock, e-PRO® & REALTOR® at Nothnagle Realtors



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