9 myths about real estate busted

The real estate industry is often seen by people to have a certain mysticism about it. 


9 myths about real estate bustedAs a result, there are a lot of myths and assumptions floating around in relation to what a real estate agent does and about the industry as a whole. 


Following bad advice and having misleading information might turn your property sale into a disaster. 


So we’ve busted 15 of the common myths and assumptions that people make about the world of real estate.


All agents are the same


Before you lump all agents in the same basket, take the time to get to know your potential real estate agents. While there are some agents who will offer a pretty standard approach to selling your property, there are others who are committed to delivering an excellent service and result based on a unique approach.


For example, free from the constraints of real estate franchisees, we’ve created an approach to real estate that is holistic, unique and individually crafted. We link the emotional element of real estate with a world-class strategy to consistently exceed market expectations and take you an inspired journey to a premium outcome.


Don’t sell in winter


While winter is often acknowledged as a cold market (literally), the Australian property market is now proving to be active all year round. Winter can be an ideal time to showcase your property without the competition of an oversaturated market.


An experienced and successful agent will craft a marketing and sales campaign that maximises the market for a great outcome, no matter the time of the year.


Simply listing your home will bring hoards of buyers to your door


Unfortunately agents don’t have a hoard of buyers just waiting behind a hidden door to be unleashed on your property. While some real estate agents will have a database of buyers looking for a property in their local areas, a good agent will work hard through a unique marketing and sales campaign to attract the right buyer to your property.


It’s impossible to buy your first home in today’s market


You’ve probably heard about first home buyers being squeezed out of the market, being beaten at auctions and finding properties within their price range are way below their expectations. Maybe you’ve even experienced this yourself.


However, there’s many opportunities available to first home buyers and there are many young people today who’ve purchased one, two or more investments. Following simple finance tips, taking advantage of the first home owner’s grant and ensuring your expectations are in line with your finances and goals are keys to getting started in the market.


Your agent will provide a one-size-fits-all strategy to sell your home


Do you have a luxury residence in the countryside? A classic, ornate home in one of the region’s oldest estates? No matter your property, your agent will deliver the same campaign…right? Wrong…kind of.


While some agents will use a one-size-fits-all approach to selling your property, others (like McElwaine) have a more specialised approach to real estate. We get to the heart and soul of your property so we can create a campaign tailored to your property’s features and your goals.


Weekends are the best time to hold open homes


Weekends are a great way to get people through your doors. With time off from work and therefore more hours in the day, families and buyers are better able to make your scheduled open home times. However, weekend open homes can attract both serious buyers AND nosy neighbours, curious sellers and voyeurs.


While open homes certainly bring the buyer numbers in, you might find more serious buyers who want to get in early to see your property opting to book a private inspection or attending open homes during the week.


The marketing fees I pay don’t go towards professional services


While we can’t speak for other agents, McElwaine uses a creative team of professionals to produce and deliver our marketing campaign tactics. Our creative team of of writers, photographers, designers, draftspeople, home stylists and videographers will deliver a uniquely crafted campaign designed to optimise your sale result.


Inspectors always find flaws in a home


The idea of someone crawling around your home, searching for any defects to report to a potential buyer, can seem scary. They always find something to report on, right?


Not necessarily. Inspectors are booked by the buyer to conduct an independent and unbiased evaluation of your property. Their intention is not to find as many flaws as they can, but rather to report accurately on your property’s conditions. If you are concerned about the inspection process, consider obtaining your own independent building inspection before putting the home on the market.


Selling your home yourself will save you money


Selling your property yourself will obviously save you the agent fees.


However, while in a perfect world property selling might be as simple as sticking a ‘for sale by owner’ sign out the front and then popping the champagne, there is a lot more complexity and strategy involved than that. While you can certainly sell your house yourself (we wrote about it on another blog post), a real estate agent has a toolkit of negotiation skills, marketing tactics and specialised experience that can get your property sold quicker and for a better price.


In fact, with the right agent, you will find that the final price you achieve on your property overcompensates for the fee you pay.


If you have further questions about the sale of your property, give us a call. We’re always happy to chat about your sale and step you through the process involved.


Give us a call on 02 4933 9929 or email info@mcelwaineproperty.com.au.


Talk to us about your dreams and we’ll help make them come true.