Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The
5 Real Estate Myths You Shouldnt Believe
5 Real Estate Myths You Shouldn’t Believe
Real Estate is a tricky business. While there may be a lot of perks accompanying this profession, there are also a lot of damaging assumptions and industry misconceptions. People often heard the bad and the good about this business, especially with all the tidbits of real estate facts floating in the internet. But no one can really deny that there are undoubtedly two sides to every story. And that there are many, MANY, real estate myths that can be found out there, too! But what is really the truth?
Here’s the top five myths that you should never ever believe:
It’s a fast and easy process.
People always believe that working in real estate industry brings in fast and lots of money, worse, they think it’s easy. Well, it’s definitely not.
There are two incredibly important things that you need to know regarding real estate. One, it’s not just buying or selling a house. It’s helping people with the largest investment they may ever make to decide a home. Two, it takes time to build trust with clients.
Real estate needs to be taken seriously and responsibly, with patience and dedication and time. So yes, if you think this business is fast and easy, then think again.
Real estate is a simple business.
Well, to be fair, real estate at its very core is not complicated. But that definitely doesn’t mean it’s simple. Successful people in this industry doesn’t just sit back and relax and let their business grow on its own. With today’s increasingly competitive and complex real estate industry and technological advances, agents should use everything on their end to keep up the pace and give them an edge.
The market is steady and predictable.
The market is definitely NOT steady and NOT predictable. We all learned about supply and demand in both a four-walled classroom and, not surprisingly, everyday. With wavy recessions that pop out during unexpected times, supply and demand can change fast all of a sudden, and a lot of real estate comes on the market at 50%.
You need a lot of money to start.
People would often argue that in real estate business, you need to have a lot of money to make a lot of profit. This is not particularly true. Real estate investing simply needs proper education, preparation, patience, and firm determination to reach a positive result. There are actually numerous ways to get started with very little money. However, it’s always up to you.
All agents are the same
No matter what other people say, this is the truth: NO two or three agents are the same, nor is their approach to real estate. Do not lump all real estate agents into the same bunch without really observing the differences in their approach, solutions to a problem, and achievements. Some are committed to excellence, some are adept problem solvers, and some just simply march to lower their own standards and do the bare minimum to get by. Again, they are never the same.
Latest Blog Posts
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in