5 Myths About Real Estate

Whether you are purchasing or selling a home in Mandeville, Covington, or Madisonville, our real estate agents are experts in the field, and we are here to help you with the one of the biggest transactions of your life. When working with clients in St. Tammany Parish, we are often asked some common questions regarding how the market works, how to save money, and which methods work best for Mandeville real estate. We have found that there are many myths about the real estate market, but I plan to tackle five of the most important ones.

5 Real Estate Myths

1. FOR SALE BY OWNER SAVES YOU MONEY. One of the biggest reasons that people choose to sell their home without an agent is that they believe they are saving lots of money. We see that the opposite occurs in many instances. For sale by owner homes usually sit on the market far longer than homes listed through an agent because overpricing, marketing, and staging issues. People don’t realize that selling a home requires much more time, effort, and energy than placing a for sale sign in the yard. There is often a mishandling of the contracts also, which may end up being declined once completed. Find a trusted agent like us, at Tribute Real Estate, to help sell your home.

2. PRICE A HOME HIGHER TO LEAVE SPACE FOR NEGOTIATIONS. Pricing is one of the most important factors when selling a home in Covington, LA. When a home is priced too high, the home sits on the market for too long and some potential home buyers will not waste their time on houses that are overpriced. They may pass on looking at your house altogether. The lack of potential buyers may also lead to many frustrations for the seller.

3. OPEN HOUSE IS THE KEY TO SELLING. Open House is a wonderful tactic used to bring in potential home buyers. This method allows home buyers to see the house in a very informal way and meet with a listing agent to ask any questions or concerns regarding the home. The open house, however, will not always result in a sale for homes in St. Tammany Parish. In fact, according to National Association of Realtors, only 2% of open houses result in a sale. It is highly unlikely that the open house method is the reason for the house selling. Agents often see the open house as an opportunity to find additional clients who are looking for a home and are not currently working with an agent. Be wary of agents like this.

4. AGENTS WILL DO ANYTHING TO GET THE SALE. Unfortunately, some agents lie and cheat their way into making money. This myth is a hyper generalization of an industry that works hard to help people find a home that is suitable for them. The highest producing agents are used often because their reputation among the community is high. These types of agents work hard to maintain a high level of trust.

5. YOUR HOME IS BEAUTIFUL, IT DOES NOT NEED STAGING. Even the most beautiful homes in stunning neighborhoods should be staged and professionally photographed for potential home buyers to view. These are very important factors in determining how long the house will stay on the market and how much the home will sell for. Even small, minor details go a long way in making your home attractive to home buyers.