Real Estate 101: Dispelling Common Misconceptions Part-2

As already discussed in the part one of the same blog, many people are plagued with misconceptions and myths regarding real estate which leads them to make stupid mistakes when it comes to buying or selling a real estate property. Here we examine some more real estate myths and try to debunk them;

A Home Doesn’t Need To Be Prepared For Sale

Believing in this myth could cost not only the seller or a home but the agent thousands of dollars. It will pay off to prepare a home that’s for sale in a proper manner, as doing so will make the difference between making a sale at a relative quick amount of time or having the property sit and stagnate on the market.

Why Is It Important?

When buyers look for a home today, they want one that’s in move-in condition. Furthermore, the first 3-4 weeks for a home in the market are the most critical and chances are high of a good sale if the property in question is priced, prepared and marketed in the proper manner.

Open Houses Help To Sell Houses

Many sellers think if they keep an open house every other week, their property will twice as likely be sold at a good price. This is in fact a myth that has been debunked not by Real Estate School for Success but the National Association of Realtors according to whom only 2% of homes are sold by open houses.

Why Do Real Estate Agents Swear By It Then?

Open houses are primarily seen as an opportunity for real estate agents to pick up new clients. For example; it’s quite possible for a potential buyer to walk through an open house accompanied without a real estate agent working for him/her. This way the agent overseeing the open house can easily convert the potential buyer into a client.

A Better Deal Is Guaranteed When Buying Through a Listing Agent

Buying a home, especially for first time buyers can become quite a complicated process which is why it’s imperative that first time buyers have a great real estate agent behind their back when buying a home. People usually think that a listing agent is the professional to go to at this time; however a listing agent is the last person you want to go to.

Why Is This So?                               

Listing agents are those who represent the seller as well as the buyer. A common though process is that the listing agent will cut or halve their commission percentage as there are receiving both sides of the transaction however what people fail to remember is the listing agent is also representing the seller and may negotiate the purchase in his interests.

As discussed in the previous blog, real estate agents have to follow a set of regulations and code which ensures they aren’t cheating the client in any way. If you think you can make a good real estate agent, what are you waiting for? Learn more on how to get your real estate broker license here!

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Posted in Real Estate Education