When it comes to real estate, home buyers and seller are becoming more savvy than ever. Unfortunately, despite the internet allowing Albertans to look up information with the click of a button, some myths seem to be sticking around. Here are the top three real estate myths that most people seem to still believe.
All real estate agents are the same. These are the same people that will hire the first real estate agent they meet — or won’t hire one at all. The fact is that each real estate agent is unique. We all have different skills, experience levels, and traits. Some of us have spent a 20 year career selling luxury downtown condos; others have only been in the business for a couple months or specialize in family homes.
In order to find the real estate agent best fit to suit your needs, I suggest doing a search for agents who are in the areas you’re interested in and who have sold similar properties in the past. Pick three or four agents with the experience you’re looking you, then call them up for an interview. Once you have a feel for each agent, pick the one who’s the best fit for you and your family.
When Selling a Home, Price It To Leave Room For Negotiations. At one time, this might have worked better. Now a days, buyers are savvy. With powerful tools like the internet and by talking with their realtor, buyers will know that your home is overpriced. Instead of having room to negotiate, you may very likely find yourself with no one to negotiate with at all.
And while it is possible to adjust your price later if you’re not getting enough interest, most homes receive 4x the views during the first week their listing is posted than even a month later. As time goes on, the number of buyers seeing your listing dwindles further. Lowering your price online won’t help you capture the views and potential buyers you’d have gotten if you’d listed your home for a reasonable market value in the first place.
Getting Pre-Approved can Wait. Getting pre-approved is an important step in buying your home. Pre-approval means knowing your budget — so you don’t waste time looking at homes you can’t afford, it means being viewed as a serious buyer — you won’t be overlooked when you go to an open house or put down your offer, and it also means putting a hold on interest rates — which is why right now is a great time to get pre-approved as interest rates are low. If you are considering buying a home in the next couple months, getting pre-approved is the first step.
Buying your first home can be overwhelming. There’s are a lot of myths out there, and a lot of things to know that only experience really teaches. When you work with an experienced real estate agent, you get access to all that extra knowledge, skill, and expertise. If you’re looking to buy a home in Calgary, I’m here to help. Contact me today at (403) 660-5319.