What are the misconceptions about the real estate market?

Posted by citynestca on March 31st, 2021

Investing in the Real Estate Market is a huge decision. It is a commitment that needs dedication. That’s why people consider as a tough job and overshadow it with misconceptions. In this article, we will debunk some common misconceptions that people have about real-estate agents.

1. Investment in real estate requires a lot of money.

It is the biggest misconception that dissuades people from investing in the real estate market. Buying a home is a wise decision for people of different age groups. To make the buying simple, the banks offer home loans worth 80% of the property value. It means you need to pay only 20%. You can repay the loan in EMI. It makes buying easier and affordable. Oak Bay Real Estate can help you to find the right home according to your demands.

2. There is a risk related to investment in real estate.

It is another misconception about the real estate sector. Every investment involves risk. However, if you compare the stock market and real estate market, you will find the stock market more volatile and unstable than the real-estate sector. Due to a lack of diligence, most people fear investing in the property. However, it helps you to build income irrespective of the market performance. You can easily find out the desired property from Oak Bay Real Estate.

3. Real Estate Agents demands a lot of commission

When we utter the word real-estate agent, the thing that comes to our mind is the hefty commission that we have to pay to them. However, it is not true. It is an erroneous misconception. They demand a legal percentage depending upon the property. And the amount he takes as commission entirely does not go into his pocket. The may have to split.

Another misconception about the real estate agent is all of them sail in the same boat. Thus, the buyers and sellers cannot select an ideal real estate agent for their property. The real estate agent is of two types: the buyer estate agent (who helps the buyers purchase the property) and the seller agent (who helps the seller sell the property). There is a difference between them, and one should mix it up. Experience plays an important role in this sector. An ideal real estate is a good negotiator, has a varied skill set and knows how to deal with the customer. Homes for sale in Oak Bay clear up this misconception.

Conclusion

These are the common misconceptions that people have about the real estate sector. The idea is to find a reputed real estate agent who can help you make buying and selling processes easy.

Mark Adam is the author of this article. To know more about Real estate agent Victoria BC please visit our website: citynest.ca