The following are the five most frequently asked questions we receive in the real estate industry:
1. “Why are the real estate prices in Raleigh so high?”
There are a few reasons for that. The first is the education level. As you know, we have NC State, Duke, UNC, and several other universities in the area, which drives our prices up. Secondly, we’re located about two hours from the coast and four hours from the mountains. The third reason is that we’re halfway between New York and Florida—so you can thank the Yankees for running our house prices up!
2. “Am I going to be renting forever?”
That depends—are you ‘renting’ your parents’ basement? If so, you may never move out. However, if you do want to move out, you really only need to have enough money saved up for closing costs. There are several loan programs that can get you into a house without paying a down payment. I recommend that everyone buy real estate; even when I talk to prospective Realtors, I tell them to get their licenses and start buying real estate as soon as they can.
3. “Why do Realtors hate Zillow?”
Not all Realtors hate Zillow—it can be a great tool. But yes, some Realtors do hate Zillow, though many of those Realtors are the kind who can’t operate an electronic lockbox. The automated home value that Zillow gives homeowners, while not necessarily accurate, can be a great conversation starter between me and a consumer. Zillow has never been in your house; they don’t know what views or upgrades your home has. I can then show that person exactly what their house is worth.
4. “Are Realtors rich?”
This is one of the biggest misconceptions about real estate—I know because I just checked my bank account. The rich Realtors you see on TV are probably in the top one-hundredth of the top 1% of all Realtors.
5. “What do Realtors do all day?”
In most offices, not a whole lot. The great Realtors will spend a large part of their day viewing houses and taking notes on the market so that when we sit down with you, you can be confident in the numbers we put in front of you. Another thing that I enjoy about real estate is that every day is different from the day before.
I hope these answers helped you understand a little bit more about real estate. If you have any further questions or suggestions for future topics for me to address, don’t hesitate to reach out to me.