The Final 5 Common Real Estate Myths

Today we’ll discuss part two of the top 10 common myths in real estate and debunk our final five misconceptions.

Today I’ll be sharing the second part of my two-part series on the top 10 myths in real estate, featuring myths No. 6 through No. 10.

6. Weekends bring out the most serious buyers. When people are preparing to put their house on the market, we often hear of sellers thinking they won’t be able to show it during the week, so they make showings available for the weekend only. Serious homebuyers, however, are coming throughout the week, and while you are more likely to have showings on the weekends because people are off, you may still get buyers during the week.

7. Zillow says it, therefore it is right. First, I want to say that Zillow is very rarely accurate. There is nothing more frustrating as a real estate agent than having folks come in and say that Zillow says the home is worth a certain amount. While you can get good information from these types of websites, they are very rarely accurate because they use algorithms based on tax records.

8. It is better to initially list a home on the high side because you can always negotiate it down. If you start out too high, it is actually one of the fastest ways to kill your home sale. When you initially list your home, you’ll have the most activity that you are going to have; if the price is too high, you end up missing out on people. If you try to make adjustments and catch up later, those people have already moved on to other properties and your momentum that you need to sell for top dollar is gone. Although I actually love pricing homes as the highest in the neighborhood, it has to be priced realistically so you can get the most money.

9. Multiple price reductions mean that a seller is desperate to sell. Every seller is in a different situation and has different circumstances involved in their sale. This does not necessarily mean that someone is desperate.

10. All agents are the same and do the same exact thing. This is definitely not true. If you look at the results, you can see very different outcomes depending on the team or person you hire. The people who are successful or have been successful for a long period of time are clearly doing things differently to enable them to achieve that kind of success.

If you have any additional questions or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.