Buying and selling real estate can be a tiring and overwhelming process; you’re given advice from parents, neighbors, friends and even co-workers. Sometimes it seems lie everyone thinks they’re an expert if they’ve done it once before. While it’s ok to look to friends and family for advice, make sure you understand that there are quite a few prominent real estate myths that many people still believe (and may want you to believe!)

An Appropriately Priced House Will Stay on the Market – Yes, buying a home is one of the most important decisions you will need to make in life, but being able to decide quickly may save you some heartache. One myth buyers tend to believe is that they can wait a week to decide, when in reality, a house priced at market value is likely to sell within 45 days of its list date. If you love the house, chances are other buyers love it too, so it’s important to know when to jump on the right opportunity.

You Should List your Home for more than it’s worth – One of the most common myths that sellers believe is that they should list their home for more than they want—which is also usually more than it’s worth. Their reasoning behind this is that a seller will always offer lower, so they can somehow meet in the middle. Many buyers, especially those being guided by a real estate agent, will understand the value of the home, independent of the list price. What you’re really doing by listing your home overvalue is scaring interested buyers away.

A Seller has to respond to your Offer – This one is pretty cut and dry; a seller can respond with silence. If you want to lowball a seller to the point that you may offend them, you very likely won’t be hearing back from them. You are welcome to make an offer at a later time, but you will want to consider increasing it to a fairer amount. If you’re looking at Denver Colorado homes for sale, a licensed Real Estate agent can help you decide a fair sales price and offer.

The Buyer is in Control in a Buyer’s Market – Yes, a buyer has more control in a “buyer’s market” than they would in a “seller’s market,” but if the seller of your dream home doesn’t feel the same way, then it really doesn’t matter. People quickly assume that all sellers need to sell, when in reality, some of them could hold onto the home as a rental or second home. Not every seller is going to be flexible, and you’ll unfortunately have to learn that the hard way.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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