Don’t Let Myths Steer Your Home Sale


Selling a property can be just as stressful as buying one. Your home is where your treasured memories—and probably your largest financial investment—reside. You want every part of the sale to go smoothly. So don’t let incorrect or outdated ideas influence your transaction! Avoid these myths when you put your house on the market: MYTH: Remodeling Projects Always Yield Dividends When You Sell. Your renovation could pay off when it’s time to sell, but many don’t. Some updates may make your property more attractive to buyers, and others do raise appraisal values and sale prices, but don’t count on getting back dollar-for-dollar what you spent. MYTH: Your House is Worth What Your Friend’s or Neighbor’s House Sold For. Many factors determine your home’s value, including property condition and nearby comparable sales. Appraisals aren’t the same as sale prices, either. Just because your neighbor sold her home for $50,000 over asking price doesn’t mean yours will. Every situation is different. MYTH: You’ll Save Money by Selling the Home Yourself. A REALTOR® is a trusted professional who can guide you through each step of the transaction, including pricing your home and assessing offers. A REALTOR® can help you avoid missing important deadlines or making costly mistakes that could threaten the entire sale. Your REALTOR® also may be able to help you attract more and better offers. MYTH: The Highest Offer is Always the Best. Money is important but other factors matter, too. The best offer also works with your timetable and terms. Your REALTOR® can help you navigate multiple offers. MYTH: Don’t Accept the First Offer. Sometimes the first offer is the best offer. Don’t disregard it just because it arrived first. Consider whether it meets your goals and what might happen if you reject it without having other offers in hand. Your REALTOR® can help you separate fact from fiction and guide you to make the best decisions for you.

Don’t Let Myths Steer Your Home Sale2022-03-29T01:16:12-05:00

Buyers: Don’t Let Real Estate Myths Limit Your Search


With a decision as big as a real estate transaction, you’ll want good advice from people you can trust. Your friends and family may not have all the answers—in fact, they may give you outdated or incorrect information. Your REALTOR® s a trusted professional who deals with real estate issues every day. REALTORS® can help dispel myths that could limit your search or unduly influence one of the most important financial decisions you’ll ever make. Beware of the following myths: Myth: You Need a 20% Down Payment. Reality: Though many buyers do put down 20% or more, Texas homebuyers paid a median 14% down payment in 2020, according to the Profile of Texas Homebuyers and Sellers report. First-time homebuyers paid a median 6%. There are many types of loans and programs you may qualify for to help you buy a home even if you don’t have a 20% down payment. Myth: You Must Have Spotless Credit. Reality: You may be able to secure a loan even with a low credit score. There are also steps you can take to improve your credit score to boost your chances of getting a loan. Myth: Don’t Buy the Biggest or Most Expensive House in the Neighborhood. Reality: This myth suggests that you may have difficulty finding a buyer when it comes time to sell or that your property value won’t rise in proportion to other homes in the neighborhood. But that is an overgeneralization. Many factors come into play for how much a home is worth. You should buy the house that best meets your needs and lifestyle. Myth: You Need to Time the Market. Reality: Don’t wait to buy a home because you think the price will go down. What if it doesn’t? It’s a bad idea to try to time your home purchase to avoid a seller’s market or join a buyer’s market. Those market conditions may not apply to the house or neighborhood you’re considering. You should buy when it makes sense for you. Don’t rely on bad information when it comes to your home. Your REALTOR® can dispel the myths and make the real estate transaction as smooth as possible.

Buyers: Don’t Let Real Estate Myths Limit Your Search2022-03-15T00:17:40-05:00

Your REALTOR® Gives You Resources You Can Trust


You know that REALTORS® are knowledgeable, trusted professionals who can help you buy or sell a home, lease a property, or assist with other real estate transactions. You may be tempted to ask your REALTOR® subjective questions, such as “How are the schools around here?” “Do you know if there are many families with young children in this neighborhood?” or “Is this a high-crime area?” You may be surprised to learn that REALTORS® are prohibited from offering their opinions in these areas. Instead, they are required to point you toward unbiased, third-party resources on these matters. Why? As a member of the local, state, and national REALTOR® organization, your REALTOR® has promised to uphold a Code of Ethics to maintain the highest standards of professionalism. That means your REALTOR® avoids exaggeration, misrepresentation, or concealment of pertinent facts related to the property and transaction. That means your REALTOR® will not discriminate against anyone on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity, which includes volunteering information about the composition of a neighborhood. That means REALTORS® are prohibited from providing any specialized professional service outside of their area of expertise. For example, they cannot tell you if that water heater will last a few more years or whether the foundation is a problem. What your REALTOR® will do is guide you through the steps of a complex transaction, share with you the best market data available, explain your options, and help you achieve your goals. Your REALTOR® will also recommend you contact a lawyer if some aspect of the transaction requires it. Your REALTOR® brings industry know-how and professional connections you can’t get anywhere else. Your REALTOR® can help you with negotiations, pricing, and advice—and will always do so with the highest level of integrity. When you hire a REALTOR®, you are hiring a trusted professional. You can count on the information you receive from a REALTOR® as you make one of the biggest financial decisions of your and your family’s life.

Your REALTOR® Gives You Resources You Can Trust2022-03-01T00:21:19-06:00

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