Real Estate Agent Mythbusters

Whether you’re a successful real estate agent or just starting out, real estate myths have historically lead agents down the wrong path. See how we debunk some of the most common myths in the industry.

The Truth About These 7 Real Estate Myths

Myth: Pre-approval happens after your clients find their perfect home

Debunked: While we know it’s exciting finding your clients their dream home, it’s important to get your ducks in a row before you get their hopes up. If a client approaches you about wanting to find a house, inform them that a pre-approval is beneficial prior so they know their price range. Don’t let your clients think they can buy the king sized candy bar when they can really only afford the fun size.

Myth: Open houses always lead to faster sales

Debunked: While impulse buying is effective when checking out at the grocery store, that kind of marketing is not the final piece of the home selling puzzle. In a study conducted by the National Association of Realtors, only 2 percent of homes are sold as a result of open houses. Open houses are a great way to plant the seed, but you also run the risk of wasting your time by inviting a handful of unqualified prospects. Use your open houses wisely.

Myth: Real estate agents can only show their own company’s listings

Debunked: A lot of agents think they are breaking company loyalty by trying to sell homes under different companies. The reality is, if you belong to your local real estate board and MLS, you can show anything that’s listed through those outlets. Don’t limit yourself.

Myth: A home doesn’t need to be staged to sell

Debunked: Would you invite thousands of people in your city to an open house in your home without getting it ready and cleaning up? Well, same goes for you and your clients’ listings. First impressions are everything, and if your clients’ home gets off to a slow start on the marketing it might be hard to recover. If a home is staged and priced correctly, it should be contracted and ready to go after 4 weeks on the market. Check out our real estate photo flops for some fun examples of homes that weren’t quite ready to go at picture time.

Myth: Spring and fall are the best times to sell homes

Debunked: While these are busy times with a lot buzz on the market and listings going up left and right, these seasons are also filled with competition and a lot of window shoppers. Often times, clients who reach out to you around the holidays to buy or list a home are pretty serious about wanting to make something happen. There doesn’t have to be a slow time of the year, it’s all about how you take advantage of your opportunities.

Myth: The market will only go up

Debunked: It’s important that we learn the lessons from our history. External factors play a key part in the status of the market. Real estate agents, new and experience, sometimes make the assumption that the market will only go up, which is dangerous to themselves and their clients. Always be thinking “what if the market crashed.” Focus on the market now but get ready to be agile going forward.

Myth: Social media can replace your website

Debunked: While your Facebook and Instagram page can be easily liked and shared, email has the power of collecting prospect’s information while displaying the full breadth of your business. Social media is a powerful tool but not enough to be the only way to market yourself. Have you ever seen someone solely put their Facebook URL on their business card? Your clients expect more from you.

Your website and email marketing are the corner pieces of your real estate puzzle. You could use your website to debunk myths about your own business and brand, then send out to your clients using a well staged email. There’s a lot of great tools out there, but if you want consulting around marketing your business, The Marketing Desks could be your missing puzzle piece.