Common Real Estate Myths

There are many myths out there about selling or buying a home. Your trusted real estate agent at the Lake of the Ozarks is here clarify on some of these real estate myths. Both buying and selling a home can be an overwhelming process, but an experienced real estate agent can help with the process.

All Agents Do The Same Thing

This statement is definitely NOT true. Buyers should find an agent who knows the area well and can help them find a home to meet their unique needs. Sellers should list their home with an agent who knows the ins and outs of the area and can successfully market their home. Communication is also a very important piece when selecting a real estate agent. Both buyers and sellers need to find someone who is trustworthy and they are comfortable working with.

Find The Perfect House, Then Get Approved

It can be helpful in the home search process to get pre-approved before even looking at homes. This gives you a good idea of your price range based on your income and your current financial state. Getting pre-approved can also speed up the process once you find your dream home.

“For Sale By Owner” Will Save Money

Real estate agents are professionals; this is what they do for a living. They have the experience required to accurately list and market a home in their specific area.  This process takes a lot of time, which many people who are selling their own homes do not have. Selling your home quickly can often help you secure a much better price; an experienced agent can help promote your home to help it sell faster.

Never Buy The Biggest House On The Block

This myth is one a buyer should not take to heart. Although it may be more difficult for an appraiser to calculate an accurate value of a home, it does not mean a buyer should not consider the biggest home in a neighborhood. A buyer should base their home choice on his or her personal preference and needs.

Open Houses Sell Homes

Having an open house to promote your home is a great opportunity to get more people in the door. The exposure rate is higher for houses that have an open house. It’s important to realize, however, that having multiple prospective buyers in your home does not guarantee an immediate offer. Even if buyers come to an open house and like the home, they will not always decide to make an offer that day.

You Will Earn Back What You Put In Renovations

Having updated features or completed repairs may help you sell your home more quickly. It’s important to realize, however, that there is no guarantee that you’ll get the money you invest in renovations back. If you are thinking of remodeling a feature in your home, it is best to do it for your enjoyment, not based on making more money when the time comes to sell.

Set Home Price Higher Than You Want Out Of It

You want to get as much as possible out of your home, but over-pricing it can be detrimental to the entire selling process. Buyers typically look within their price range, and if your home is priced over that cutoff they may not even see your home as an option. If priced too high, it may sit on the market without anyone looking or making an offer. Homes that are on market for a period of time may give the impression to potential buyers that something is wrong with the house.

I Can Help With All Of Your Real Estate Needs

Now that you have clarity on some of the common myths about real estate, you should have a better feel for the selling and buying process. As your experienced realestate agent at the Lake of the Ozarks, I am pleased to help you with all of your real estate needs. Whether it is buying or selling that you are interested in, I look forward to working with you.

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484