Seven Myths You Should Stop Believing in Real Estate
Becoming a real estate agent could be the altering shift you need in your career. Getting employed from Dubai real estate agencies offers exciting perks and versatility from work. You get the chance to offer off plan projects in Dubai such as Port De La Mer which has become the current trend nowadays or new projects by Damac that you could show-off to your clients as well. Dubai real estate business is booming over the years, so you don’t have to worry that there are lots of real estate agents out there; Dubai, a progressive country will continuously build projects that would cater to the growing population of the country.
In a real estate business, there are myths that every novice real estate agent must know before getting into the real estate.
Myth #1: The first offer is the best one.
While others believe to grab while the iron is hot that is not the case when it comes to real estate business. The way of thinking of other agents especially the beginners is that they should immediately take what is being offered first for it is much better than nothing. That should not be the case. More often than not, it is best to be patient and wait for the right deal to come along. According to some agents who have worked in the business for a long time, rarely is the first offer the best one.
Myth #2: Real estate is an easy job.
Especially for the novice in the field, getting into real estate is not as easy as ABC but it’s not
rocket science either. Seminars and social media are good at showing only the easy part of the job but they forget to disclose the hard part. The job requires you to be well-versed with regards to the business and with lending and negotiating.
That’s not all, bagging a deal may require months of phone calls, negotiations, and endless talks with potential clients. To avoid such a mess, you have to partner yourself with the right agency. Look for the brokerage that will see the potential in you and will help you grow to be the successful broker you dream of.
Myth #3: Sellers should not upgrade their home before listing it.
This is a big myth that should be corrected especially for the newbies. Some buyers may already have made up their minds, but who knows with a state-of-the-art upgrade, buyers will have a change of heart. Also, houses that have undergone a major repair or update tend to attract more buyers than those who didn’t do anything at all.
Myth #4: It is always better to seal the deal in cash.
New real estate agents presume that sealing the deal in cash is better than going through the hassles of financing; but, this is not always the case. For instance, a cash offer could be lower than the original offer, or there might be unfavourable terms, these could mean that the all-cash offer falls behind a written traditional offer. Before you seal the deal, do make sure that you have listed the elements that would make the offer more catching.
Myth #5: what you see on HGTV is true.
HGTV may be one of the factors that have encouraged you to become a real estate agent. But the show tends to exaggerate the business. There are times when it will take several months of showing more than 50 homes before your client could finally reach a decision. When you are on the business then you will come to understand the reality, as it sets in. In order for you to be happy with your career, you must limit your expectations. Try to be grounded to reality as best as you can.
Myth #6: The best time to list a home on the market is springtime.
Other people believed that they shouldn’t list their homes during winter or fall. Due to this, there is a surge of supply on the housing market during spring. This is not good for sellers because there will be a lot of competition that you should beat off. The better thing to do is to list homes when there is no surplus of inventory.
Myth #7: No need for education if you got the license.
All professionals need to be updated on the current trends of their careers. A continuing education may be key for you to grab more clients in the future. You must be well-versed in your career, and one way of doing so is by enrolling yourself in a continuing education class or attending seminars.