5 Myths About Real Estate in 2022

There is so much misinformation constantly circulating about the real estate market, which may lead you to question what you should actually believe. Whether you’re thinking about buying or selling your home in Boca Raton or Delray Beach, or just want to learn more about the market.

Here are 5 real estate myths you should absolutely be aware of:

1. I need 20% down to buy a home. 

That’s usually not the case. 

There are so many loan types and loan options available, some even for 0% down. You won’t know what you’re able to qualify for unless you ask the right questions and talk to the right people. 

2. I’ll never qualify to buy a home. 

Again, you won’t know if you don’t ask.

 The right lender is crucial in finding out what you qualify for, since they have access to tons of different programs available that can adhere to your needs. 

If you’re debating whether to continue renting or are look into buying a home, start the process of getting pre-approved. Your money will be put to better use as a homeowner than a renter paying somebody else’s mortgage.

3. I need to price my home with room to negotiate when selling. 

This can be a costly myth. 

Pricing your home too high can sway many buyers away. So many buyers start their home search online and set filters to narrow down their search. 

The price of your home might be set right outside their budget, when in reality, you’d probably be willing to accept an offer they’d be able to make. 

Thus, causing your property to stay on the market longer, forcing you to make price reductions and risk your home looking stale on the market. 

4. The less commission I pay, the more I will profit. 

The expression, “you get what you pay for,” applies really well here.

 On average, in the last year, we have made our clients about 20% more money than other agents in our area through expert negotiations and money saving tactics. 

An inexperienced agent, who will be more likely to give you a discounted commission, will likely not have the same skills and experience necessary and will end up losing you money. 

5. All agents are the same, so it doesn’t matter who I hire. 

Who you hire matters. All agents have unique qualities and qualifications that may make them more suitable for you. Finding an experienced agent that you trust is extremely important.