Separating Real Estate Myths from the Facts

As you can guess, there are a variety of myths around buying a home, selling a home, and working with a real estate agent. It’s tempting to follow Grandmother Maude’s advice even though she’s never been a realtor. While Cousin Floyd may have sold his own home, listed as for-sale-by-owner, what he didn’t tell you was that he later learned he didn’t get the best offer.

It’s important to learn the facts. Let’s clear up some misinformation that continues to be passed along by well-meaning friends, family, and bloggers on the internet. When you know the facts, or where to find trustworthy and reliable information, you can make an informed decision and your smartest choices.

Don’t be fooled by any of these common real estate myths.

Myth: Selling your home yourself saves you money.

The Facts: Those attempting to save money by acting as their own agent often make costly mistakes or end up hitting a brick wall at some point along the real estate transactions. This leads to frustrations and pitfalls. Frequently homeowners, out of defeat, end up reaching out to real estate professionals for assistance in unravelling the mess.

A Better Approach: Schedule a consultation with a realtor to discuss your plans. Allow the expert to guide you through the process as well as share the most recent market research. Your agent will know what buyers are searching for and can best assist you in presenting a home buyers will be clamoring to submit an offer. Your selling agent will answer your questions, every step of the way.

Myth: Buying a home without an agent is easy and a smart move.

The Facts: With the popularity of websites such as Zillow, Trulia, and StreetEasy, searching for a home to buy can be done with a few taps of the computer keys. What these websites can’t provide are the insights and expertise which comes from an experienced buying agent. These websites won’t know the intimate details of the community or schools or local shopping and eateries.

A Better Approach: Reach out to a buying agent to work with you. Buyer’s agents have a duty to place your best interests first. To negotiate the best deal for you. To ensure you have all of your ducks in a row so everything hums along smoothly. What these websites lack is the personal touch which is so essential. These websites may not be aware of all of the homes coming to market but a realtor with their finger on the pulse of the community can be in the know. It’s not uncommon for an agent to be aware of a prime property that matches your exact wish list and can schedule a showing before the home is publicly advertised as for sale. This is a sign of an agent who is well-connected and tuned in to what’s happening. This is the kind of agent you want as your second-set of eyes and ears.

Myth: You don’t need the home inspection.

The Facts: Few would consider purchasing a vehicle without an inspection and this why many states require an inspection before licensing a vehicle. While a home inspection isn’t a requirement, it is highly recommended. A home inspector’s keen eye will spot any troubling areas and note the general conditions of the home. This is vital information for any seller and for buyers to know.

For sellers, having this information gives you the opportunity to make any necessary repairs or improvements.

For buyers, this information allows you to work with your agent to negotiate the best price which factors in any costs to make repairs or improvements.

A Better Approach: Don’t skip on getting a home inspection. The inspector will point out any potential problem areas and spot faulty repairs. Purchasing a home is one of the largest investments you may make in your lifetime. You owe it to yourself to learn all you can about the home beforehand.

Myth: A pre-approval letter isn’t necessary until you’re ready to make an offer.

The Facts: When a buyer gets a pre-approval letter from their lender this step indicates to sellers, they are a serious buyer. This information lets buyers know how much their lender will approve for them and helps buyers set a budget for choosing which homes to consider. Nothing is more disappointing than finding a gorgeous home that you fall in love with and it’s outside of your budget.

A Better Approach: When you make the decision to buy a home one of your first steps is to move forward with getting your pre-approval letter. Next, seek out a realtor and then with this letter in hand your agent will be certain to show you listings within your price range.

Since 2004 Sara Lyn Nguyen continues to bring a wealth of knowledge and expertise about buying and selling real estate around the Houston area to those she serves. Sara is a multi-year award winning REALTOR® and relocation specialist where her clients trust her to have up-to-date information on the real estate market. She has been one of Gary Greene’s Multi-Million Dollar Top Producers, and citywide was the #2 Top Producing agent in 2020, #3 in 2021, and #2 in 2022. When it’s time to buy, sell, invest, or relocate speak with a trusted professional knowledgeable in the homes and neighborhoods of Fort Bend/Sugar Land and the surrounding region.