When it comes to buying or selling a home, there’s no shortage of advice floating around. But not all of it is accurate, and some of the most common real estate myths can end up costing you thousands.
Let’s clear up some of the biggest misconceptions so you can make confident, informed decisions.
Myth #1: You Don’t Need an Agent in Today’s Market
With listing sites and DIY tools readily available, some buyers and sellers assume they can go it alone. But real estate is more than just finding a house or posting one online. A skilled agent helps you:
- Price strategically based on current market data
- Navigate negotiations and contracts
- Avoid costly mistakes
- Understand local trends, disclosures, and timing
Trying to save on commission could actually cost you more if you overpay or undersell.
Myth #2: The Zestimate Is My Home’s Value
Online estimators are a starting point, not the final answer. They rely on algorithms, not in-person insight, and often miss things like upgrades, curb appeal, or neighborhood demand. In many cases, Zestimates can be off by tens of thousands of dollars. A local real estate professional can give you a more accurate picture.
Myth #3: Spring Is the Only Time to Sell
Spring tends to be busy, but that doesn’t mean it’s your only window. Serious buyers shop year-round, and listing in the summer, fall, or even winter can mean less competition and more motivated offers. The “best” time to sell depends more on your local market conditions and goals than the calendar.
Myth #4: You Need 20% Down to Buy a Home
This is one of the most common myths—and it holds many buyers back unnecessarily. While putting 20% down can help you avoid private mortgage insurance (PMI), there are plenty of loan options with lower down payments, including:
- FHA loans (as low as 3.5%)
- VA loans (0% down for eligible buyers)
- Conventional loans (as low as 3%)
Talk to a lender or real estate pro to find out what works for your budget.
Myth #5: Renovating Before Selling Always Boosts Your Price
Not all upgrades pay off equally. Over-improving for your neighborhood or investing in trendy features that don’t appeal to buyers can backfire. In many cases, small updates like fresh paint, landscaping, and lighting give you a better return than a full kitchen remodel. Always consult with your agent before making big changes.
Myth #6: The Asking Price Is Set in Stone
Whether you’re buying or selling, remember: everything in real estate is negotiable. Offers below asking, seller credits, repairs, and even closing costs can all be part of the conversation. A good agent will help you position your offer (or listing) strategically to get the best outcome.
Final Thought
Believing the wrong real estate myths can cost you time, money, and peace of mind. If you’re thinking of making a move—or just want to understand your options—it pays to get the facts from someone who lives and breathes your local market.
Have a question about something you’ve heard? Let’s talk. I’m happy to set the record straight.
