Newspaper article The Queensland Times (Ipswich, Australia)

Time to Let the Experts Bust All Those Endless Property Myths

Newspaper article The Queensland Times (Ipswich, Australia)

Time to Let the Experts Bust All Those Endless Property Myths

Article excerpt

THE property market can be confusing enough without throwing in tall tales and outdated assumptions.

We set out to bust some popular myths in the real estate business with a little help from the experts.

"Myths are perpetuated in two main ways in real estate," says Craig Heppell, CEO of Agent in a Box.

"They are either fed by ourselves as agents and by sellers, and probably also by buyers too."

Let's shine a bright light on six of the most commonly heard untruths:

Good agents can command armies of buyers to fight for your home

The market is warming up in parts of southeast Queensland and other regional coastal cities.

But don't think that means every home going to market will attract a tsunami of desperate buyers.

"There is a bit of a myth out there that agents have all these buyers gathered in a field somewhere right now," Heppell says.

"That all you have to do as vendor is list your home and the agent will release these buyers and they will all go at it hammer and tong to compete for your home ... I am sorry to say but that one is completely untrue."

Never sell in the winter

We've all heard this old chestnut, that the only people who put their homes on the market when the weather is coldest are poor, desperate souls who will accept any price to pay for some firewood.

But Simon Cohen and Ben Handler of Cohen Handler buyers' agency, confirm it's simply not true that there are specific months or seasons to sell property.

Study 2015's auction clearance rates and price growth across Australia and you'll see this whole 'avoid winter' theory is dead-set myth material

Beware of accidentally selling too low

"I have been selling real estate for 13 years and would say nine out of 10 sellers have inflated views of the value of their own properties," Heppell says.

"One of the biggest myths is created by sellers concerned they will undersell their own properties."

The Sunshine Coast based agent says vendors get anxious about accepting an offer under the 'real worth' of their home.

"What they don't realise is that you cannot make a mistake on this front; when it all boils down to it, the market will decide what the sale price will be at any given time, not the vendor. …

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