4 Residential Real Estate Myths Busted

red for sale sign on white post in front of yellow home

There are many common real estate myths out there, and they can often cause you to make a poor decision in the buying or selling process. Arm yourself with knowledge against these widespread falsehoods, and you will be prepared for your next real estate transaction.

If it is on a reputable site like Zillow, it must be true

There are so many real estate websites now that people have used to successfully buy and sell homes that people automatically internalize that these listings must be unimpeachable. Frankly, the people in charge of these websites have neither the resources nor the desire to verify that every detail on every listing is true. You should always take steps to verify the details of a listing with a licensed real estate agent before making any firm decisions.

It’s better to choose a price point on the higher end when you first list

It’s common for sellers to think, “I’ll see if I can get an offer at my dream price, and then I’ll lower later if it doesn’t work out.” Sometimes you get lucky and this works, but it can also prove to be a detrimental strategy.

Pricing your home too high initially could turn off many qualified buyers and result in your listing not getting significant traffic early on. It’s better to start with a fair and reasonable price from the get-go and work from there accordingly.

A home either passes or fails an inspection

Many potential first-time buyers think that the home inspection is like a pass-fail test, and the inspector will provide them with an easy answer on whether or not they should continue with the closing. In reality, they are much more nuanced than that. Inspectors compile reports detailing the condition of major systems throughout the home and indicating any serious concerns. What you do with it is up to you.

You can “beat” the real estate market by timing it correctly

The reality is that the market is constantly in flux. Some areas are forecasted by numerous experts to become the next hot area and never do. Other times prices will significantly change in a neighborhood that no one saw coming. Don’t worry about trying to become a real estate soothsayer who knows how to game the system; focus on making the best decision for your family’s future.

Complications are a natural part of the real estate process, but experienced agents can help you navigate the complexities and avoid potential pitfalls. Whether you’re looking to buy or sell a house in the Greenville area, the team at the Parker Group is ready to help make your real estate dreams come true. Contact us today to learn more about our full range of real estate services.

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