May 30

8 comments

Undeniable Truths About Real Estate

Undeniable Truths About Real Estate is what I've labelled as being those things that, over my years in the real estate industry, I've found to be generally true.

I've also found that most experienced real estate agents I've known have also observed the common occurrence of these   undeniable truths about real estate.

So, out of sheer curiosity, I recently decided to sit down and make a list of these so-called "undeniable truths." And, when I was done, to my surprise, I'd compiled a list of 29 events that I call, my undeniable truths about real estate.

I think you'll find my list of undeniable truths about the real estate industry to be humorous (or, a least entertaining) as well as informative.

By the way, because each of these "truths" is related to different types of circumstances, there's no way to present them in any particular order. So, with that in mind, here we go.

  • 1
    You'll never know everything about real estate.
  • 2
    Your first offer is usually your best offer.
  • 3
    Renovations always cost more and take more time than you budget for.
  • 4
    Murphy's Law was written by a real estate guy named Murphy.
  • 5
    Flipping houses is a business, not an investment strategy.
  • 6
    In general, residential real estate agents are the most poorly educated and have virtually no training.
  • 7
    A real estate appraisal is nothing more than an educated guess at the value of a piece of real estate.
  • 8
    A real estate agent who says, "I have a buyer for your property" is usually lying.
  • 9
    The number one reason why a property doesn't sell is because it's over-priced.
  • 10
    A property's location is the single most important influence on its value.
  • 11
    Most people buy homes totally based on what they see.
  • 12
    Buying investment real estate is the safest and most certain way to build wealth.
  • 13
    Anyone can become wealthy by investing in real estate.
  • 14
    Any property will sell in a reasonable amount of time if it's properly priced.
  • 15
    Cost does NOT equal value.
  • 16
    If you want to get rich, sell stuff to real estate agents.
  • 17
    The National Association of REALTORS® is a useless organization whose main purpose has become the perpetuation of its own existence.
  • 18
    Most lawyers know nothing about negotiating real estate deals.
  • 19
    Most so-called "real estate coaches" have never sold real estate.
  • 20
    National real estate sales statistics mean absolutely nothing to the value of your home.
  • 21
    The number one factor that motivates people who try to sell their own property is the desire to avoid paying a real estate broker's commission.
  • 22
    Only ONE party in a transaction can benefit from not paying a broker's commission. And, that party is almost always the seller.
  • 23
    Residential real estate agents are territorial animals who rarely venture outside of a specific geographic area.
  • 24
    Most real estate agents have such a great fear of rejection that they avoid knocking on the door or calling on an ad placed by an owner trying to sell their own home.
  • 25
    Buyers set the value of real estate - not sellers.
  • 26
    Seller's can't possibly "come down" from their asking price, because they don't have anything to "come down" from.
  • 27
    Buyers always pay the real estate broker's commission because the buyer is the only one who brings money to a closing.
  • 28
    A real estate agent can't sell anything. They can only make the buyer aware of properties that match their needs, then execute the purchase process.
  • 29
    Just because you spend money to add something to your house doesn't mean you're adding value.

WANT TO HEAR MY COMMENTS?

Listen to my podcast to hear all 29 of my undeniable truths about real estate along with my comments about each.


Tags

agents, real estate, realtor, scam, truth


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    1. Barbara, I know how busy you are and I appreciate you taking the time to read and listen. Also, glad you enjoyed it.

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