As with most industries, real estate is full of myths and misconceptions that those on the outside looking in tend to believe. These types of myths can damage an industry, and it’s vital that they’re corrected in order to keep the industry alive. Debunking real estate myths can also make buying or selling a home less stressful for those not in the field. Here are a few common real estate myths.

All Real Estate Agents Are The Same

While real estate transactions themselves are more or less always the same, the agents themselves are all different. Each one has their own unique approach, skill set, and preferred partners to work with that makes the ag3ent themselves indispensable to the entire process. So before you go and decide to work with just any real estate agent, do your research. Learn more about their history in the industry, and see if you can get opinions from others who have worked with the agent before. This will make the entire process much easier.

Home Inspections Are Pass/Fail

An inspection is not like an exam where you either pass or fail. It’s a process that aims to evaluate the condition of the home, whether that be good or bad. After inspecting the property, the inspector will then write up a summary that will include a list of issues that they found, such as the age of certain key systems, electricity, and plumbing. This way you will know what exactly needs to be fixed before you move in, and perhaps you’ll even be able to utilize this for negotiations.

You Get Pre-Approval After You Find Your Dream Home

Getting pre-approved is one of the most important steps that you should take when it comes to buying a home. It will help you determine if you can afford the house that you’re looking at. Having this will allow you to avoid wasting time and find the perfect home that sits within your price range. Another important reason why it’s important to get pre-approved is that it can help you in a bidding war. Having this will allow you to get a significant advantage over the other offers.

“For Sale By Owner” Saves You Money

Although it’s easy to believe that selling a home through a For Sale By Owner (FSBO) will save you money, this is not the case. There are many moving parts to a real estate transaction, and it’s not as easy as it sounds. Sellers who don’t have the necessary skills and knowledge to sell a home could lose money. On the other hand, buyers who are considering buying a home through a For Sale By Owner may find that the price is off-the-charts.