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I’m sure you’ve been told countless times that “you can’t always believe what you hear on the Internet!” And, while this is true regarding countless subjects, many forget that this statement is also true regarding real estate.
Whether you ’re searching for your dream home or you’re in the process of selling your current one, chances are you’ve already browsed the Internet and talked to your loved ones about your biggest concerns. And, more than likely, they’ve all told you different things!
No matter what you hear from your friends, family, or the all-knowing Internet, it’s easy for the truth to be fabricated and leave you feeling confused. But luckily, we ’re here to kick those myths to the curb and present you with some things you can actually believe about real estate.
Here are some of the most common real estate myths that are often misconstrued, and the actual truths hiding behind them:
You should start your home search process before you get pre-approved.
Once people have made the decision that they’re ready to buy a home, they’re often overcome with excitement and can’t wait for their search to begin. And it’s true, buying a home is exciting! However, it’s important not to get carried away.
It can be pretty disheartening to find your dream home only to realize you can’t afford it, so do yourself a favor and get your price point squared away, first. By getting pre-approved for a mortgage first, you’ll be able to determine what you want versus what you need in a home, which will save you on both time and stress down the road!
After determining what you can afford, share the information with your agent, because knowing this information will help them find you a home that you’re in love with, and can afford! That dream home is starting to look more like a reality now, isn’t it?
Found a property you like? Use the home’s listing agent as your buyer’s agent!
We wouldn’t recommend it. Unfortunately, many people make the mistake of finding a home that they like online and then contact the listing agent to schedule a showing or to get additional information.
Don’t do it! Make sure you have a buyer’s agent representing you, rather than relying on a listing agent to assist in closing a deal. Why? Listing agents already have a client who has their attention. Their job is to do whatever is in the best interest of their client, instead of focusing solely on yours.
Having an agent who is only focused on your needs is much more beneficial, as they will help you find a home that meets all of your criteria. Because they understand your needs, preferences, and budget, a buyer’s agent will work hard to, keep things within your price point and negotiate the best price possible once you’re finally ready to make an offer.
FSBO is the easiest and most cost-efficient way to sell your home.
Not at all, actually. If you’ve thought about placing your home on the market and have decided you want to sell your house on your own, you may want to think again. Selling your home isn’t as easy as simply placing a ‘for sale’ sign in your front yard and letting the house sell itself; it requires much more than that.
First, you need to ensure that your house is priced appropriately. Pricing your home too low could mean that you aren’t making a sufficient profit while pricing it too high could mean that your house will sit on the market for months with no interest. Letting a Realtor determine the price of your property is the best way to ensure its priced competitively in the market.
Experienced agents also have the marketing skills, communication skills, and negotiation skills to assist in a smooth sale. They know what platforms will best get your home seen, can coordinate open houses and showings so that you don’t have to, and will know how to negotiate, so the closing is done in your best interest.
According to the 2017 National Association of REALTORS® Profile of Home Buyers and Sellers
, “FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.”
Letting an expert help you with the process will save you time, ease your stress, and ensure you’re getting the best price for your home.
It’s Time to Hire a Realtor
Now that we’ve walked you through some of the top myths in real estate, we hope you’re ready to enter into the world of buying and selling with confidence and ease. Work with an agent you can trust, go with your gut, and turn your dreams into a reality!
Need assistance with buying or selling a home in New Hampshire? Have more myths you’d like debunked? Contact a Red Post Realty Agent today!