5 Real Estate Myths Debunked
When it comes to buying or selling real estate, there are lots of myths out there. How do you know what’s real and what’s not? We recently sat down with our expert sales director, Kathy Phillips, to find out.
Myth 1 – You don’t need an agent.
Kathy: “Not only do you need an agent, but it’s best to have one that is highly knowledgeable about your area of interest. A reputable agent who has expertise in the local area that you want to buy or sell in is going to add a lot of value to your transaction either way.“
Myth 2 – You can save money by selling your home yourself.
Kathy: “Widely known as an FSBO (For Sale By Owner), people who take on the task of selling their home or property themselves could be doing themselves a disservice. According to the National Association of Realtors, over 80% of buyers purchase real estate through an agent. More importantly, sellers often net over 20% more in the sale. Without an agent, it can easily be a big headache and a hassle. Especially when you consider the value of your time, it’s highly likely that money will be lost in the transaction rather than saved. Without a good agent, you could be losing a lot of exposure to a large portion of the buying population.”
Myth 3 – You’re better off using an agent who’s a friend.
Kathy: “It’s actually better to leave personal relationships personal and use an on-site agent for the area you’re interested in. They will have the expertise and the power to help you buy and sell effectively. They have deep knowledge of disclosures, liability, pricing, house condition consulting, showing quality, and so much more. They know the area well and best understand how to match the needs of both local buyers and sellers.“
Myth 4 – It’s cheaper to renovate an older home than buy a new one.
Kathy: “Sometimes this is true, but not always. It depends a lot on the home; it’s location and any unique differentiators that the property may have. For example, an older home on a nice lakefront piece of property can have a tremendous amount of potential. Sellers will have a greater return on investment if it is properly renovated with tasteful updates and upgrades. I bought my lake villa at Harbor Club with that in mind.“
Myth 5 – You don’t need a home inspection on a brand new home.
Kathy: “No matter the home, whether it be resale or new construction, I always recommend getting an inspection. It’s worth every penny to have a professional set of eyes inspect the home from top to bottom to ensure there is nothing wrong and that your investment is sound.“
When it comes to buying and selling real estate of any kind, it’s wise to have professional representation to help you debunk all the myths. At Harbor Club, Kathy is your perfect choice. She’s involved in almost half the real estate transactions that occur here. What’s more, she is successfully selling a third of all real estate at Harbor Club. She is vested in making the most of every transaction. Why? Because your success is her success. If you have an interest in Harbor Club real estate, contact us today.