Real estate is one of a famous and most sorted out industry, and it has always been an industry which involves lots of money and people. As usual, this also leads to a lot of myths which are going around people with respect to the industry. Here we will look at several myths and will try to learn the truth about the same.
1. Real estate depends on Luck.
This is a common statement which one can come across most frequently when starting to discuss getting into real estate or planning on investing in a property. People think that realty is some kind of a magic wand output, which is not. Like any other industry, realty has a process-oriented business model in all aspects where one can calculate and project the ups and downs of the industry and how it is going to be stable or fluctuate in the future.
2. Brokers know the best.
This might sound true but it is not entirely true. Brokers, of course, know a lot about the real estate and the current status of it, just because they are constantly working at the ground level of the industry. But that just doesn’t mean that you have to be a broker to know about realty. Anyone can become a master in this field if they have done their research right and if they spend a considerable amount of time with dedication.
3. It’s easy and simple to know.
This is again a complete misconception. Like every other industry and their field of business, Realty also has its own complexities available. The key is to face the challenges and overcome those with more leanings and experience.
4. Investments are always a problem.
Not necessarily. There is always investment option available from various modes like bank and finances. There are always investors looking for potential ventures who can be tapped and can be collaborated with. All you have to do is search for it.
5. It is a quick business.
Again, the speed determines on your involvement in the business. It is not a quick business, it has its own pace which also involves a lot of factors such as market and economy. But with experience, your pace will definitely increase and become steady.
6. It’s a predictable market.
You may have people telling that these are the kind of markets which are predictable and you can predict it 10 years into future. But, this also has a certain level of volatility and it can also vary anytime and it can have it’s own twists and turns.
7. Realty is a temporary job.
This would probably be the first sentence you might hear when you tell someone that you are ready to try your luck in the field of real estate. People tend to think that real estate is a temporary job and it has no real future. But little do they know that there are many MNCs and companies who are the pillars of the real estate industry.
8. It is better to price your property high.
People may think this would be a great idea to price a property on the higher side so that there will be room for bargain. But as a matter of fact, if a customer finds the price too high, chances are you will never even get a chance to discuss with the customer if they don’t give you a chance to talk.
9. All agents have identical principles.
This is a statement which cannot be accepted. As per every agent, each of them has their own principles and they all work in various ways. Having an assumption that all the agents work in the same way is only going to affect the business.
10. Real estate is not reliable.
Real estate is one of the industries which has been around for close to many decades now. Any industry won’t exist if it doesn’t have a popularity among the crowd and has a stable turn over year on year. Every Industry is reliable if you put enough work and time into it.