A professional real estate agent from Sydney has helped us break some common myths about the property market that are just not true. The real estate agent, who wishes to stay anonymous for professional reasons, has exposed five common myths that are spread by not just sellers, but buyers and even agents. Below we have explored each myth.
1. The right agent will gather a throng of buyers
While the property market is extremely good in Sydney at the moment, it doesn’t necessarily mean your property will attract hordes of attention. Many sellers fall into the trap of believing their real estate agent is some kind of magician. At the mere act of listing your property as on the market, some people believe the agent will magically release these desperate buyers who have been locked up and it will cause a bidding war. As amazing as that would be, unfortunately it’s not true.
2. Concerns of selling too low
One common fear many sellers have is they are going to be forced to sell their property too low. In most cases, sellers have inflated views on what their properties are worth. This of course means that when push comes to shove and it’s time to sell their property, they believe every genuine bid is well below the price they deserve. The truth is it’s very difficult to make such a big mistake on the price, as it is actually the market itself that decides the sales price.
3. Avoid putting your home on the market in winter
It’s the time of the year most of us like to stay huddled in doors around the heater, but that doesn’t mean our desire to buy has been extinguished. Just take a look at the sales going on at the end of the financial year, and you’ll know only too well everyone is just as keen to purchase. Unfortunately though, the myth of winter being a bad time to sell has been long believed. The reality is, every season is a good season to sell.
4. Property law is scary because it’s so complicated
Many people fear the legal side of buying and selling a property. The dread usually steams from the fact that they don’t understand the process. The good news is you’re not alone when you have to deal with the legalities. In fact, when the legal part of the deal kicks in, you have a legal representative with you to help you sign off. Then they take care of the job from there and carry through the carriage of the sale. With experts assisting, the process is very straight forward.
5. If you’re a young adult, there is no way you will be able to buy a home
One of the biggest myths in the industry is that young people cannot purchase homes. With properties on the rise, many people believe the prices are out of the reach of the younger generation. The reality is, there are many young people that are actually purchasing their second and third properties. There are no special tricks, it’s all about establishing a good financial plan and progressing up the ladder towards financial success.
Hopefully, we have expanded your understanding of the property market and broken some common myths you have held. Now it’s time to explore the Sydney property market with a new frame of mind. If you would like to take a look at some properties our real estate agent has suggested, follow the link to check out the properties listed at BidRhino at http://www.bidrhino.com.au/nsw/houses-for-sale/.