Common Real Estate Myths Debunked

For some entering into the real estate market, it can be far too easy to fall victim to all of those circulating rumors and myths. Unfortunately, these misconceptions even deter some buyers and sellers from venturing into the market altogether. Over the years, we’ve heard them all, and we’re here to put some of those rumors to rest, as we debunk some of the most common real estate myths. Let’s take a look:

Myth:  All Realtors® Are Created Equal  

Unfortunately, all Realtors® are not alike, but it remains one myth that we’ve continued to hear over the years.  Real Estate agents offer different levels of experience, traits and skills. So, if you plan on buying or selling a home, you can’t go with just anyone. You have to find an agent (or agents) who can meet your specific, individual needs. This means taking the time to thoroughly research an agent, getting their references, and checking their specialized set of skills.  

Myth:  The Best Time of Year to Sell is Spring

While real estate certainly has its prime “seasons,” they’re probably not during times most often thought of.  In fact, it may come to your surprise to learn that some experts say that the best times to buy and sell are actually in the months of November, December and January (during the holidays and right after).  So, where did the spring myth come from?  Well, spring used to be the time of year when many families would go about making their summer moving plans so as to avoid disrupting their children’s school schedules.  However, as with the times, trends have changed, and most of today’s homebuyers aren’t married and don’t have children’s schedules to work around, thus making the spring “buying season” irrelevant.

Myth:  You Can Get Away with Overpricing Your Home

This is another one of those myths that far too many home sellers have fallen for over the years.  The belief is that it’s ok to overprice your home because there will always be at least one buyer out there willing to pay. This, however, is not the case, especially in this day and age when technological advancements allow for any and all information to be readily available with just a single click. Now, home buyers are more educated and market-ready than ever before. They can look up what a home is really worth in a matter of seconds, and when they find that overpriced home, they won’t be looking to bargain, they’ll just be turned off and will walk away.  Overpricing is a sure way to kiss your sale goodbye!  

Myth:  It’s Not That Important to Stage

Staging is something that we’ve talked a lot about throughout this blog, and that is because of its great importance. Many home sellers believe that it’s just not that important to stage a home before it hits the market, but we can tell you that if you skip this step, you really will be missing out. Staging your home before selling helps because it presents your home in its best possible light, allowing any potential buyers who walk through your doors the opportunity to visualize themselves living there. It’s more than simply removing clutter and vacuuming the floors, it’s about helping the home buyer to better make emotional connections with a space and its possibilities. Staging your home can really make or break your sale and all of its bargaining potential, so don’t just brush this task aside as optional.  

For anyone looking to buy or sell, the most important thing that you can do is to take the necessary time to educate yourself on the market that you’re entering into. You must understand and learn to differentiate fact from fiction in order to really come out on top of your game. There is no one set of rules that determine real estate strategy, so don’t be misled by hearsay.

If you’re planning to buy or sell a home in Chicago, our team is the team to call. This has been our home for decades, and we can offer invaluable insight into our specific local market.