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Popular Real Estate Myths, De-bunked!

Posted: August 30, 2017 at 12:00 AM by Kate Spears

When it comes to buying or selling a home, there are a lot of myths about the process that simply aren’t true. Maybe you’ve been thinking about making the transition from renting to owning your first home. Perhaps you’d like to put your current home on the market. Don’t let these misconceptions get in the way of your moving forward. Get the facts and don’t let these common myths deter you.

Real Estate Myth #1: Buying A Home Is The Most Stressful Thing You Will Ever Do...

One of the biggest myths about buying a new home is that it’s a highly stressful experience. The process of buying has many steps, but instead of stressful, it can be so exciting! With the right agent using the right technology and cutting edge tools available, the process can actually be quite seamless.

The second part of this myth is that “Buying a Home isn’t for everybody.” Maybe you feel this way...that there are too many hurdles to homeownership. But this isn’t the case at all. If you have a dream of owning your own home, we can help. From connecting you with our mortgage partner to get your finances in order to finding that ‘just right’ home for your needs, your agent can serve as your trusted real estate advisor each step of the way.

And that leads us to the next myth about real estate….

Real Estate Myth #2: You Don’t Need An Agent…

We live in a DIY era. There is a how-to video on YouTube for just about anything you might want to learn. But buying and selling houses is not a DIY endeavour and should be left to the professionals. People who forego the professional real estate agent will not get the same results as folks who go through a reputable real estate brokerage.

Watching House Hunters or other favorite real estate shows can be fun, but this doesn’t make you an expert. Not only do real estate agents know more than you do, they have the skills to negotiate on your behalf. Plus they understand the process inside and out, and will ensure that every “i” is dotted and each “t” crossed in your contract. Agents also understand the state of the market as far as housing inventory is concerned.

Real Estate Myth #3: The Listed Price Is Non Negotiable…

Wrong again. There is often room to negotiate. Once again, this is a great reason to work with a REALTOR?. Currently, we’re in a seller’s market in East Tennessee, which means demand is greater than the inventory available. Often in this case, buyers are competing for the same property with multiple offers. But that doesn’t mean there isn’t wiggle room. And your real estate agent can advise you about this. Did the home inspection reveal issues about the home? Sometimes a seller in a hurry is willing to negotiate on price rather than take time to tackle a huge list of repairs.  

Myth #4: There’s Only One Good Time of Year To Sell Your Home…

This may have been in the past, but not anymore. Moving, and therefore selling, used to be done strictly in the summer to avoid conflicts with the school year. And we still see a spike in home buying and selling beginning in spring and carrying over into summer months.

But not everyone has school-aged kids or needs to follow a school calendar. Life can present manner of things that might trigger a move, including a job change, relocating, a new baby or downsizing. Serious buyers are serious buyers regardless of the season. Also, a lot of school districts are moving away from the traditional summers off paradigm to a year round school year. So don’t let the calendar dictate when you sell your home. Often, fall and winter are a good time because there are more serious buyers looking. Consider that as we approach the fall months here in East Tennessee.

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