In today’s world, Real Estate is filled with a lot of Real Estate myths that mislead first-time buyers, sellers, and seasoned investors. From the belief that a large down payment is always required to the idea that open houses are the best ways to sell a home, Common Real Estate Myths and Myths about Real Estate Agents can influence the important decisions and the strategies required.

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So many people tend to fall into traps of fake Real Estate Agents because they do not know what to believe and what not to believe hence, they end up being conned and losing a lot of money to people they had trusted.

Real Estate is one of the top financial investments people are making and being knowledgeable about it will prevent you from making a lot of mistakes and always making the right decisions.

What is a Real Estate Myth?

A Real Estate myth is a false belief or misconception about the Real Estate market, property transactions, or home ownership.

These Real Estate myths can stem from outdated information, misunderstanding, and generalizations that mislead property buyers, sellers, or rather investors about the reality of Real Estate reality and trends.

Common Real Estate Myths

Here are some of the  common Real Estate myths that most buyers always have at the back of their minds

• When buying a house you need a 20% down paymentMany buyers tend to believe this but there are other options;1. 3% down payment especially for first-time home buyers

  2. Using loan programs like the Federal Housing Administration (FHA)  loan or Veteran Affairs (VA) loan.

  Investing in Real Estate is such a good investment but it is not guaranteed that the property will always appreciate.

  This is because the Real Estate market can fluctuate from time to time therefore, poor decision-making of the buyer leads to losses.

•  It is advisable to buy property instead of renting

Homeownership can be a good investment, renting may be better depending on the market conditions, financial stability, and personal circumstances.

•  You should always buy the most expensive house

It is always important to consider factors such as insurance, taxes, maintenance, and market trends rather than just the purchase price

• You do not need Real Estate Agents to buy property

It is always possible to buy or sell without Real Estate Agents but one will always end up making the wrong decisions.

By having experienced Real Estate Agents like Shifters and Movers 0799922285 they will bring you valuable market knowledge, negotiation skills, and legal expertise.

Shifters and movers Real Estate agents also offer services like renting, property management, and property inspection before buying hence, their advice will help you in various real estate decisions.

Tap on the link and get tips before buying your first home.

•  You can always rely on online home value estimation

In today’s era, people use the shortest method to know the home values or purchase price of the house, pay directly, and realize later the house does not even exist.

It is so sad how people are losing money without doing proper research online and on the ground.

Online home research should only help you get leads and see a variety of properties.

Who are Real Estate Agents?

Real Estate Agents are licensed professionals who assist clients in buying, selling, and renting properties.

Similarly, they also work as intermediaries between buyers and sellers, landlords and tenants, and also provide expert guidance through the Real Estate transaction process.

In Kenya, the Real Estate industry is sometimes plagued by fake Real Estate Agents or fraud practices that deceive unsuspecting buyers, sellers, or renters.

These fake agents typically prey on people’s trust and lack of Knowledge about the Real Estate Market.

 Reasons why people fall into  Real Estate Scams;

1. Many people believe that any agent who claims to have access to property is trustworthy.

In Kenya, the Real Estate Agents Registration Board (RERB) is the regulatory body that oversees the registration and conduct of real estate agents Whereas, fake agents do not have any certification.

2. These scammers tend to post properties online like Facebook, Marketplace, Jiji, and TikTok making the properties look legitimate but in the real sense they do not exist.

3. Some fake Real Estate Agents lure in clients by offering properties at very low prices far below the market price, therefore, making it very suspicious.

Buyers are usually attracted by the low prices and therefore, it creates a sense of urgency by the fake agents claiming that the deal would not last for a long time.

Myths About Real Estate Agents

Here are some of the common myths and misconceptions about Real Estate agents;

• Many people believe that agents prioritize commissions over client’s need 

  Legit Real Estate Agents genuinely aim to help their clients find the right properties. Therefore, this builds a long-term relationship that leads to repeated business.

• It is a common real estate agent myth that agents are not needed for new build-ups
  
  Agents are highly needed to represent your interests even with builders, helping you navigate contracts and price adjustments.
• Real Estate agents make a lot of money easily. 

  The Real Estate occupation is usually commission-based and real estate agents always work long hours with no guarantee of a sale.

• They push clients to buy quickly 

  A good real Estate Agent will take time to understand your needs and goals and they will also work at your pace and ensure you are comfortable with your decision not rushing you into any action.

Conclusion

Real Estate is often surrounded by so many Real Estate myths and Myths about Real Estate Agents especially when it comes to understanding the Market and the role of Real Estate Agents.

Similarly, understanding the realities of Real Estate and the true role of Real Estate Agents can lead to successful experiences.

 Before buying or selling property, seeking advice from a knowledgeable professional who can help and guide you through the Real Estate process effectively is very important.

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