There can be a lot of confusion about getting a real estate agent and the market overall, and many of these myths have been heard so many times that many think they are true.
“If a home is on the market longer, the deal can be more negotiable”
A house being on the market a long time can mean a number of different things. It may be due to the floor plan, the land lot it’s on, the condition of the home or the location. The seller may want more than the market value and may not negotiate at all.
“Real estate agents are the same”
While the process of real estate is pretty much the same, it’s impossible to say that all real estate agents are the same. This would be saying that all doctors or teachers are the same. Each agent has his or her own approach and may use a different strategy depending on the property they are working with. There are those that are committed and spend a lot of time to make sure the buyers and sellers are happy, and there are some that just put in minimal effort.
“Real estate agents earn a salary”
Despite what it looks like in appearance of events and marketing efforts, they don’t receive any salary. The money they are entitled to is a portion of the commission, whether they put in hours of work for multiple showings or not.
“It must be true because it’s on Zillow”
Zillow doesn’t actually walk through the home and do all the research. The estimates on Zillow can give a buyer or seller a general idea, but it’s not meant to be used as an exact valuation. The tool can tell why some homes may have more value than others just by looking at the outside. There are many things that go into the pricing of a home, such as school districts, that Zillow can’t determine.
“Price the home on the high side because the seller can come down”
Pricing the home on the high side may actually make no one look at the home. When a home is overpriced, buyers may not look at it or put in a counteroffer. The price of the home should be enticing to get people to look at it and receive traction.