5 Real Estate Myths Debunked

Whether buying or selling a home made it onto your New Years' resolution or goal list for 2022, you'll want to check out these 5 real estate myths that we debunked!

Myth #1: Selling Your Home FSBO (For Sale By Owner) Will Save You Money 

No matter how easy DIY shows make the buying and selling process seem, selling your home is not as easy as taking a few pictures of your own home and sticking a "For Sale" sign on your front lawn. In reality, it's not easy! When you hire Verity Group to help sell your home, homeowners will get professional photos of their home, a professional, clean looking sign installed, marketing experts, staging advice, a personalized home selling strategy, a full administrative team to handle all of the minuscule details, and a knowledgeable agent that knows the local Hampton Roads' real estate market all ensuring that you get the right price for your home without leaving money on the table. While it may seem easy to DIY your way through the home selling process, one thing is for sure, there is a lot of money to risk losing when you FSBO.

Myth #2: If You’ve Bought or Sold a Home Before, You’ll Be a Pro Your Second Time Around 

So you bought your first home several years ago and since then, your family has changed and now you're ready to sell. While it may seem like this "isn't your first rodeo," it's important to know that every real estate transaction is different. Along with changing markets, the buying and selling process changes over time meaning that new processes, market conditions, and trends can lead to a totally different buying and/or selling experience than you had previously. Hiring a knowledgeable and educated agent from Verity Group to represent you during your transition could save you thousands down the road.

Myth #3: Offer Less Than You’re Willing To Pay So You Have Room To Negotiate 

In this current market, offering less on a home that you're hoping to call yours could result in your offer not even being considered. With competition being at an all-time high and many houses receiving multiple offers during its time on the market, if your offer isn't accepted, there is no room to negotiate as sellers will quickly move on to the highest and best. An experienced and knowledgeable Verity Group agent who knows the Hampton Roads real estate market will help you write a competitive offer based on current market trends, home conditions, and asking price.

Myth #4: All Agents Are The Same

There is no such thing as a cookie-cutter agent. All agents have different personalities, unique skills, and experience, and education levels. Whether you are looking for an agent to buy or sell, it is very important to find an agent that you know, like, and trust.

Myth #5: Looking at Homes Is The Best First Step Let’s face it, it is very tempting to visit open houses, drive neighborhoods where you want to live, talk with family and friends, and even browse search engines for homes in your area, but the first things first - if you're serious about purchasing a home, it's important to get your ducks in a row and in our current Hampton Roads real estate market, it's best to do it before you start touring homes. Take it from our experience - if you are out touring homes and fall in love with the perfect home if you haven't taken the time to get pre-approved by a local lender, the home will more than likely be under contract before you're able to hit "send" to a loan officer. If you're going to be financing your next home purchase, you will need to get a preapproval letter from one of our trusted local lenders. This letter will not only prepare you to make an offer when you find the right home, but it will help you focus on a price range you feel comfortable with. Verity Group works with some of the best lenders in Hampton Roads. Reach out anytime to be connected to one!