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10 Real Estate Myths and the Truth Behind Them

There are so many myths out there, sometimes its hard to know what to believe. “Don’t walk under a ladder, it’ll bring you bad luck” The truth is that it’s dangerous for both you and the person that may be on the ladder right? Well the same is true in real estate, but we teamed up with Purewow to dispel some of those notions and share the truth.

Myth: You don’t need an agent when buying a home in new construction.

Truth: An in-house agent is a salaried employee who is hired to represent and look out for the developer’s best interest. Hiring your own agent will help you understand the intricacies of the contract,  successfully negotiate a better price & upgrade incentives; as well as help you fully evaluate all your options when it comes to vendors including a mortgage lender.

Myth: Renting is better than owning.

Truth: Owning allows you to gain equity and control your financial future. You are establishing your credit credit. Also, landlords control the rent, the terms, how much you’re allowed to customize your space and whether or not you can have pets.

Myth: All lenders are the same.

Truth: Mortgage lenders have different underwriting guidelines, some are more stringent than others and some specialize in unique/different loan products. It’s wise to explore your options to find what best fit your lending needs.

Myth: It is best to work with multiple agents vs. one.

Truth: Having one agent allows you to develop a relationship with someone who understands your needs. It gives both parties a sense of direction, loyalty & commitment while having multiple agents does the opposite.

Myth: Listen to everyone else’s opinion but your real estate agent’s.

Truth: Real estate agents are trained and experienced professionals who understand the complexities of the market, spend time analyzing data and give you recommendations based on facts rather than emotions or superficial opinions.

Myth: Hiring a Buyer’s Agent costs you money.

Truth: Hiring the right agent will save you not just money but also, time. Hiring the wrong agent can be a costly mistake. Typically, a buyers agent commission is paid by the seller, this is agreed to when they list their homes with an agent and is very rarely not the case.

Read on for the rest of the list-Purewow-Home


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