Busting Those Pesky Real Estate Myths, Part 2!

If you missed our first three Myths from last week, you can read that blog here!

Myth #4: The house will simply sell itself. It doesn't matter who the agent is.

If the local market has gained considerable velocity lately, your house probably stands a much greater chance of securing that “SOLD” sign. However, will that necessarily equate to the highest price possible?

For every home on the market, there is a price range, and where your home falls in that range depends on the value the buyers see in it; how many people actually see the house; and whether or not the buyers connect in a meaningful way to the home. If you are fortunate enough to encounter a buyer who falls head over heels in love with your home, you just might have good reason to celebrate!

Myth #5: You get what you pay for.

Just because an agent promotes himself as a “full-service” agent doesn't necessarily mean that is what you will get. Certainly maybe there are some discount brokerages, but it's no surprise that those often end up with less than satisfactory results. Unfortunately, some agents simply have their eyes set on a noteworthy commission, not a noteworthy experience for you. Do your research. Ask for references. Check out online reviews. Remember! You are hiring the agent who is supposed to work for you.

Myth #6: Not only is my agent bringing me a buyer, but I am also getting a discount in the process. What a deal!

Don't fall for the line of thinking that your agent will find you a buyer. That is rare and really not that logical. In order to get your agent to bring his A game to the table, you need to ask the right questions: What will you do to find me a buyer? What will happen if you bring me an offer and find yourself representing both the buyer and the seller? And what percentage of your listings actually sell to your own buyers.

In reality, it's not the best idea to have your agent also represent the seller. What that usually translates to is less representation for both of you and a bit of a headache on the side. And from a bottom line perspective, would an agent really want to earn less money selling your home to a buyer with whom they are also working?

If you have any questions about this blog or if you need help looking for a home, please contact us as [email protected]. We are always happy to help!