Intercorp Mortgage Solutions: Here Are Some Misconceptions about Real Estate

Most investors in the stock market avoid real estate investing due to the cloud of misinformation around it. There's nothing to be afraid of, as real estate is actually safer.

Finances are often overlooked and ignored. Most entrepreneurs and company CEOs tend to hire or have somebody to look at that aspect while ignoring how numbers work. The lack of knowledge leads to misconceptions that become hard to change. Same happens with real estate, as people tend to confuse terms and have a flawed understanding of it. But today these myths are going to end.

Break conventional thinking behind those myths by looking at each one in contrast with the facts (the real ones) of real estate.

Myth #1: Real estate agents are millionaires

Truth: It is true that any good real estate agent can reach good earnings. But it doesn’t mean they don’t have expenses worth noticing. When an agreement takes places with the seller, they tend to accept the average commission of 5.5% of the sale price. This commission is split between the selling and listing brokers. Brokerage offices are the ones that pay the agent’s respective commission, and it is just a part of it. Besides the splitting of earnings, real estate agents need to consider expenses such as car maintenance, advertising, office space and so on.

Myth #2: With all information on the matter online, you don’t need a real estate agent at all

Truth: On the contrary, today it’s even more necessary to have a real estate agent by your side, with so much information that could lead to confusions and mistakes. Buying a home isn’t something you can’t do like following a YouTube recipe for a cuisine; you need some assistance for this. Real estate agents understand all the process and can guide you through it: they are capable of steering your investment down the alley of success.

Myth #3: Appraisers determine the value of properties

Truth: Real estate market is not determined by appraisers, but by the agreement both parts reach. This means that whatever the value of your property is, it will vary. Refinancing is the reliable choice for an accurate appraisal. Take it into consideration, even though its results will often be less than your stipulated calculations.

Myth #4: Open houses are unnecessary for selling

Truth: Due to the internet taking part with the addition of online listings, comes a terrible misconception stating open houses are not necessary.

How can you sell a house with the doors closed? That’s just business done wrong. Open houses are deep rooted in real estate, so always seek for hosting your open house. Closed doors close opportunities for potential buyers to engage with your property.

Debunk those erroneous ideas about real estate, and keep these in mind at all times. Do you need assistance to understand real estate and start investing? There’s no one better to help you invest in real estate properly than Intercorp Mortgage Solutions. Their main concern is that your businesses go well, with professionals in finances and mortgage. You won’t be having better counseling anywhere, contact them!