There are a lot of misconceptions about the real estate industry out there. Today I’ll be tackling three common myths, in particular.
There’s a lot of confusion about what’s true and false about the real estate industry, so today I wanted to address and debunk three common myths people believe about this business.
1. Real estate agents are paid a salary. The truth is that real estate agents unfortunately don’t earn a salary. If we do, then something is seriously wrong with my payroll. We actually work on commission.
2. Zillow is a reliable real estate tool. People often cite Zillow Zestimates as a basis for home value, but the estimates produced by this online algorithm can be 50%, 60%, or even 70% off. So, while Zillow has a lot of good, fun information, its Zestimate tool is not an accurate way to determine home value.
3. Inspections work on a pass/fail system. In the state of North Carolina, home inspections don’t operate on a pass/fail system. Instead, home inspections simply outline any issues that have been found with the property. Buyers have the right to walk away from a contract if the inspection report comes back with information they find to be unacceptable, but properties undergoing a home inspection don’t receive a pass/fail grade.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.