Myths About Buying a Home

Reality: There are many financing options available that allow you to purchase a home with as little as $1000 of your own money. Loan officers can help you find the best financing.

MYTH: I have to pay a realtor to help me buy a house.

Reality: Realtors are paid by the seller. There’s no additional cost for a buyer to work with a realtor. 

MYTH: Realtors only represent sellers.

Reality: Realtors can represent both buyers and sellers.

MYTH: I will get a discount if I don’t use a realtor.

Reality: Buyers don’t save any money by not using an agent. The price you pay for a home will be the same whether you use an agent or not.

MYTH: Buyers and sellers get the best deal when no agents are involved.

Reality: Buying or selling a home is one of the biggest financial transactions you’ll ever make. Working with a realtor helps ensure that a proper price has been determined for the home and that neither the buyer nor the seller are at a disadvantage. Lots of things can go wrong during the sale of a home. It’s helpful to have someone with professional experience guide you through the process.

MYTH: Realtors can only show houses that are sold by their company.

Reality: Realtors have access to information on all homes for sale through the Multiple Listing Service. This includes homes sold by all other real estate companies in the area.

MYTH: Realtors will pressure me to spend more money than I can afford.

Reality: Before you start looking for a house, it’s important to work with a loan officer to find out just what you can afford. Many people find that they aren’t comfortable spending as much as they qualify for. Your agent will help you find a house in your price range.

MYTH: I can save money by renting.

Reality: You might have a lower monthly payment but you will miss out on all the benefits of investing in your own home, which increases in value over time. Home ownership also has great tax benefits.

MYTH:  I can find more homes for sale by calling lots of agents.

Reality: Your agent has access to all home listings, so there’s no advantage to calling other agents. Agents work hard and invest a lot of time in finding properties for buyers who are committed to working with them. If you are calling several agents, they most likely won’t spend much time or energy helping you.

MYTH: Now that so much information about properties is available on the web, I can find a home without a realtor.

Reality: Your realtor has access to more properties than you can find on the web, and has details about the status of current properties. Realtors also network extensively with other realtors who are trying to find buyers for their clients’ homes. There’s much more to buying a home than just finding one. A realtor can guide you through the whole process, from finding a home to making an offer and arranging final closing details.