Top 5 myths about real estate and debunk them.

Have you heard a saying about real estate? You may have the idea to believe it or not.

So I am sharing an article about the 5 myths about real estate and how to discredit it. (credits to mirealteam.com)

Myth #1: “Agents want you to pay a higher sale price so that they can get a higher commission”

Agents in real estate are professionals. They only want the best for you, their client. A dream house of yours has a corresponding amount and they give the right price to you- nothing less nothing more. Your agent consider your financial capacity and match it with the right real property. Hence, an agent determines the best offer to his client.

Myth #2: “Listing my home at a lower commission will get me more profit on my home.”

What will you get for a cellphone at a lower cost compared to a cellphone with a little higher amount? It is the quality, right? Same with real estate, if you want to pay for the realtor in a lower rate then, you will only get what you pay for.

Myth #3: “Realtors get kickbacks from lenders, inspectors, etc.”

Real Estate is an industry made up by professionals. They abide a certain law such as RESPA (The Real Estate Settlement Procedures Act) which states that kickbacks is against the law. Professionals will never put their reputation and career for a small amount of money in a short time.

Myth #4: “You should choose the listing agent who says they will sell your home at the highest price.”

A market study is being studied by realtor and agents before they buy and sell a real estate. They made sure that no property is too expensive for its features and nothing will be offered in a cheaper price. It is to prevent a real estate to be in a listing for some quite time. Yes, you can appraise your property at your desire but do remember that mortgage loan companies have the final say in the appraise value.

Myth #5: “A cash offer is always the best.”

Cash offer is a good one to process because some people think that it has less difficulties or struggles. However, it depends to the people who handles or processes it. There are crucial parts such as financing terms, contingenicies, and the closing time.

 

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