It’s a reality that there are many ideas about the business development of the real estate industry, but most of these ideas are actually misconceptions.
Most people have this general idea of what the industry is like, and some people actually have trouble trusting agents because of these misconceptions.
We hope that this post will serve as an information tool and provide further insights into the real estate industry.
The industry is only made up of buildings:
Real estate agents indeed have offices in actual buildings, but this kind of misunderstanding dates to the time when brokers had to rely on phones in their offices to talk to their clients.
Those days are long gone.
With the evolution of the Internet and mobile phones, many agents use media as your way to reach customers.
It makes communication so much easier, especially with the continuous development of smartphones.
A newer broker won’t know anything about real estate:
That is not true at all.
You might want to avoid someone who has just gotten their start in a business like this and offers their services, but some so many agents have put many hours into studying for their Business.
They’ve done so much research to get to where they are.
Remember, everyone has to start somewhere! Someone newer will most likely provide exceptional customer service and spend time with you as a customer.
Don’t be afraid to give a newer agent a Try.
Shows on TV are the best for real estate know-how:
The show is heavily edited, staged, and amplified with drama to keep viewer ratings.
While reality TV has opened up real estate to many viewers, it is not the authority over how the real estate business works.
The market is always thriving:
That’s not true.
If you follow any market, you will find that there will be seasons when sales are massive and exponentially increasing (for some, that would be during the holidays).
The real estate market is cyclical, in the sense that it goes through a constant circle of flowering and losing weight.
It’s best to know when these seasons are rising and falling to get a better idea of how your local property market works.
An agent becomes a success overnight:
Agents take years to build success and have a clientele.
It’s the same with every business and not just for real estate.
You can’t expect an agent to go from rags to riches overnight. All the best came from zero to top.
The real estate industry is a pyramid scheme (Property Dealers):
Some real estate companies have multiple levels that depend on how many homes are sold, but these agents work legally to find homes for the client.
They are not trying illegally to recruit people so that they can recruit more people like in a pyramid system.
The keyword to remember with a pyramid scheme is that it is nonlegal in countries like America.
Zameen and Gharana are the only trusted items in the business :
While these applications are helpful and provide detailed explanations of the real estate market in your area, they are not the agent.
They also cannot appear as One.
They are only there as a tool to help you support your research and help you find the perfect home for you and your family.
Besides, just because the mortgage per month says that it is 20,000 rupees per month is not that the case.
Or just because the house you want says that it is in a trustworthy neighborhood maybe not that it is.
You need to know your local environment and market very well before you trust anything like these sites.
Make a really high price to start, the buyer will go down and you can find a reasonable price there
For sellers, if you price your house too high, you won’t get any bites.
People research before they buy a house.
If you have a house worth 350,000 and price it to 450,000 with the hope that a buyer will lower the price, it will sit for centuries and not sell at all.
Be sure to keep it cheap and traffic will begin to come in much more frequently.
Making an offer too low :
This will not help the seller in any way and they will probably just go to the next person who has a nicer offer.
The key to an offer is to keep the price in the same ballpark or slightly higher.
Don’t fall into the trap of haggling with someone trying to sell a house.
It doesn’t work that easily.
All real estate agents want is money in their pockets :
You find greedy people in every store, but that’s not all people in a business-like real estate.
Many real estate agents really care about the well-being of their clients.
It’s not just about finding the best house that will give the highest commission.
It’s about making a dream come true for someone who wants a better life for themselves and their families.
Real estate agents are all liars :
Many people believe this generalization for some reason.
This may be the case for some people, but just because some agents are untrue doesn’t mean they all are.
Many agents, like Kimberly Kelly, are truthful and honest and really take care of their customers.
They provide the truth and their honesty is well received.
The customer is always right :
Many people do not do their research and it can be quite a headache for some agents, especially if the customer is difficult to work with.
But in the real estate business, the client is not always right and trust in a broker’s knowledge is crucial to finding a good home on the market.
Spring is a good time to sell your home :
The best time to sell a house is actually during the season when the market inventory is low as in the dead of winter.
More people are looking to buy homes during this season.
Real estate agents must find a home according to their requirements
This misunderstanding could only come from reality TV, and it can give someone the wrong impression.
In TV properties, the scenes are feigned to some extent.
If you see a buyer complaining that the agent isn’t showing the houses they want, and they ask the agent to make their bid, then it’s probably fake.
No agent wants such a relationship.