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Real Estate
3 Real Estate Myths
February 24, 2020
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There are myths about almost everything in this world, and that includes the real estate market. That means, what you hear about real estate on the internet isn’t always true, and a proper explanation can debunk those myths.

Top 3 Real Estate Myths

1.   Propose Much Higher Price than the Market Value and Wait for Negotiation

Pricing is important when selling your home, and it’s one of the most important things to research while listing your house for sale. Wrong pricing can lead to frustration and you can end up not selling your house or property.

Many believe that it’s better to ask for a higher price and keep room for negotiation. But this is a wrong move and also one of the common mistakes sellers make. In today’s world, buyers are more knowledgeable, and the internet has changed the real estate game. Now buyers can search for their property online and buy what they can afford. If the buyer finds a house is overpriced, the buyer will move away from your listing to another one and search for the ideal deal for him/her. He/she won’t wait for negotiations. As a result, your house or real estate property may end up being unsold. So, if your real estate agent suggests you to ask for higher prices, don’t fall for it and only ask according to the market.

So, this myth is debunked.

2.   Open House Increases Sell

This is also a myth that has nothing to do with the sale of your real estate property. Many sellers like this idea of opening their houses every weekend. But in reality, a little number of houses are sold by keeping your house open on weekends. So, why the real estate agents suggest you open your house on weekends? The main reason is when you open your house on Sundays; the real estate agents can pick up new clients who come to visit your house. There’s no benefit if you think about it from your side. Open houses are great ways to pick up new clients by the realtors. So before opening your house or real estate property for sale, think twice.

3.   All Real Estate Agents are Same

When you’re choosing a real estate agent, you may have heard that all the real estate agents are the same. But this is absolutely wrong. When you choose a real estate agent who has 15 years of experience, you’ll receive expert opinions and proper guidelines about what to do and what not to do to sell your house. Also, he/she will have additional skills that will help you to sell your house faster. But when you choose a real estate agent who is a newcomer, he/she may not have all the skills to sell your house in a short time, and sometimes the real estate agent can make mistakes that can lose your contract with the buyer. So, this myth is also busted.

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Richard Nevis

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