Real Estate Myths You Need To Remember

Lorraine D. Silva  |  July 10, 2023

Real Estate Myths You Need To Remember
When it comes to real estate, the general view of many clients is that they need to purchase a house or rent it out through an agent. There are plenty of real estate agencies present that will cater to clients who are growing tremendously and searching for proper homes in every location. They can be looking for a house, apartment, or any other type of residence. 
 
The problem is that many newbies tend to enter its market mostly oblivious. They think they have a clear understanding of how it works but the truth is much different in practice. 
 
Real estate is indeed a profitable business but for clients, it is an important investment that will cement where they want to live for the majority of their lives. 
 
The first myth you will come across is people saying you don’t need an agent to purchase the house. This, however, is not the case, at least not anymore. Many house sellers will always have a real estate agent at their disposal whom you will have to interact with whether you like it or not. No house seller will trust a buyer with no agent himself. You will have to hire your agent to enter negotiations with the seller and come to a compromise that can turn out to be the best deal for you. These agents have full knowledge of the market and will put your best interests at the forefront.
 
The other myth is that once you buy your house, you need to make the repairs yourself. This is not true. You need to take a home inspector with you to identify any shortcomings or problems with the house that may cost you financially or become a nuisance. You can relay these issues to the seller who may make the renovation or repair to ensure that the purchase goes smoothly. If the scale of the repair is not excessive, then you can make the repairs yourself. However, it is important to take an expert with you when looking at the house. Many sellers deliberately do not highlight the problems to avoid spending more.
 
Many house buyers have this idea that they need to offer the price first to the seller to get a good deal. Offering a price is not the way to go even though many buyers are adamant about it. First, you need to relay the price range of the house to your estate agent who will find the residence that falls within that range. Then the seller will be the one to give you the price which you can negotiate over. Giving your price will likely offend the seller.
 
Many house buyers think that only elite agents are dependable. While this may be true, it does not mean that other agents are any less skilled. Many cases have occurred where the average real estate agent can become a dark horse in his profession. You will only be able to determine that once you collaborate with one. 

Work With Lorraine

I would be honored to have the opportunity to work with you and help you find your dream home in Miami, especially in Coral Gables.