Four Real Estate Myths
- Set your home price higher than what you expect to get.
This may work at a car dealership, but real estate is a totally different animal. In real estate, if the buyer doesn’t see your home as a deal or a bargain, you don’t make it to the top of their “must see” list and are often forgotten about. If your home is presented or listed as a bargain, then the buyer is going to put it at the top of their “must see” list, even if, over all, it was a little less desirable. When a property looks like a good deal, buyers feel rushed to get their offer in quicker due to the possibility that several other offers are being submitted.
- You can get a better deal as a buyer if you don’t use a real estate agent.
If the house is listed with a real estate agent, the total commission is already built into the sales price. Even if you as the buyer don’t use an agent yourself, the seller will still pay the entire commission to the listing agent.
- All of the properties listed on the Multiple Listing Services (MLS) are listed online.
This is not always the case. Usually the agent or homeowner has to actually go in and manually post the property online. Realtor.com has claimed that they have everything the MLS does. Yes, they do have a lot of great properties shown from the MLS; however, it is not the full MLS. It is considered limited access.
- Open houses sell properties.
Buyers who visit an open house hardly ever purchase that home specifically. Open houses are really used to benefit the real estate agent, as they are a great opportunity for them to find other buyers.