Real Estate Myths and Reality

Everyone “knows” certain things about real estate. After all, we all live somewhere. And most of us, at some time, have bought or rented a home. Like so many urban -- okay, suburban -- myths though, much of what people hear is wrong.

At KMS Partners, we’ve heard it all. For example:

“Agents work for the seller -- not the buyer.” Not true! There are buyer agents and seller agents. Each one has a fiduciary responsibility to their client. We work for you -- and only you!

“My house is in great shape!” Really? Would an inspector agree? Have you looked at the crown of the chimney lately? Tested your well for arsenic and uranium? Are all your systems up to date on servicing? Have you tested for radon? Checked your attic for mice, mold or other deplorables? Whenever you’re selling, consider a pre-inspection to identify areas needing repair or service.

“I don’t need a stager. They don’t help sell a home.” We are sure your house IS in great shape. (Well, pretty sure.) But even the most magnificent home may need to be staged. Stagers know the little things -- removing personal photos, positioning that piano just right, adding a scent or two in the kitchen -- that can make a huge difference to buyers. (And just to repeat: Yes, you do have exquisite taste!)

“That property is worth x amount of dollars. I saw it on Zillow!” Sorry. Time and again, “zestimates” have been shown to be inaccurate to determine value. But don’t take our word for it. Click here

“Of course, we’ll need room to negotiate…” Not necessarily. If you price your house correctly, you shouldn’t have to waste time and energy negotiating. Odds are, your home will sell soon too.

“You underpriced my house!” A house cannot be underpriced. If it is, buyers will bid up the price to its value in the current market.

“We finished the basement ourselves, so we didn’t need a permit.” That’s a myth! Any improvements to your house need permits -- and must be closed out prior to selling. Finished lower levels, attic levels and enclosed sun rooms are just a few examples. Connecticut has a new law for permits and CO's that goes into effect on October 1st. Call KMS Partners for details.

“I don’t need to pay for a local real estate attorney. My daughter’s in law school. She’ll close for us.” Congratulations on your daughter. But sorry -- Connecticut requires actual attorney representation for property closing.

“We’re building our house. So we don’t need a Realtor.” That’s a doozy. People fall for this all the time. They’re lured into believing they’ll get a better deal without having representation. But building a home is complicated. Consumers can’t know if they’re getting a better deal on new construction without having a Realtor on their side.

“I’ve got time. If I keep looking, I’ll find the perfect house.” There is no such thing as the “perfect house.” Every home has some flaws. Every house has features we wish were different. If you’re looking for perfection, you’ll never stop searching.

“There’s no difference between Realtors.” Hey! There are 1,200 agents registered with the Mid-Fairfield County Association of Realtors. They can’t all be the same. In fact, they’re not. In fact, KMS Partners has been Coldwell Banker's Top Team in New England since 2008. They clearly stand out from the rest. Marketing acumen, professional experience, peer respect, access to Coldwell Banker’s Premier office, vendor contacts, website and social media presence, assistants and coaches -- and our long presence in our home communities -- all make KMS Partners stand out from the pack. (And remember: Even though you have access to our entire team, each KMS Partner is a unique individual too!)