5 Real Estate Myths Busted: What Buyers and Sellers Need to Know

Real estate is full of myths that can affect how buyers and sellers make important decisions. Do you really need 20% down? Should buyers always make a low offer? Is Zillow's estimate the same as your home's actual market value?

In Episode 3, April and Michael Bryan of Bryan Realty Group break down five common real estate myths that could potentially cost buyers and sellers time, money, and opportunities.

Myth #1: You Need 20% Down to Buy a Home

Many buyers believe they need to save 20% of the purchase price before they can buy a home. That's not always true.

Depending on your qualifications, there may be loan programs with lower down payment requirements, down payment assistance programs, or even zero-down options for eligible buyers.

Before assuming homeownership is out of reach, talk with a qualified lender about the financing options that may be available to you.

Myth #2: You Should Always Lowball the Seller

Offering significantly below asking price doesn't automatically mean you're getting a good deal.

A home's value should be evaluated using comparable sales, property condition, improvements, location, and current market conditions.

Sometimes a home may be overpriced, while another may already be priced competitively. A REALTOR® can help you review the numbers and determine what makes sense before submitting an offer.

Myth #3: Zillow Knows Exactly What Your Home Is Worth

Online home estimates can be useful as a starting point, but an algorithm can't always account for everything that makes your home unique.

Updates, maintenance, condition, improvements, and even differences between neighboring properties can influence value.

A local real estate professional can evaluate your property and recent comparable sales to provide a more complete picture of its potential market value.

Myth #4: The First Offer Is Never the Best Offer

Getting an offer quickly doesn't necessarily mean you should wait for something better.

Your first offer could come from a motivated buyer who has already been watching the market and is ready to purchase.

Instead of automatically rejecting an early offer, evaluate the entire package—including price, financing, contingencies, concessions, and closing timeline.

Myth #5: You Don't Need to Prepare Your Home Before Selling

Selling a home “as-is” while expecting top dollar doesn't always go hand in hand.

You don't necessarily need a major renovation. Simple improvements such as decluttering, deep cleaning, touching up paint, improving curb appeal, and completing minor repairs can help your home make a stronger first impression.

Final Thoughts

The biggest myth of all may be believing that real estate is one-size-fits-all.

Every buyer, seller, property, and transaction is different. Making decisions based on reliable information, market data, and professional guidance can help you avoid costly assumptions.

Bryan Realty Group's Advice

At Bryan Realty Group, we help buyers and sellers understand their options so they can make confident, informed decisions—not decisions based on real estate myths.

Want to hear April and Michael dive deeper into all five myths?

Watch Episode 3: 5 Real Estate Myths BUSTED: 20% Down, Zillow & Lowball Lies

Watch the full episode on YouTube

For more real estate education, tips, and future episodes, check out Bryan Realty Group on YouTube.

Looking for a Memphis-area real estate team that will tell you the truth about a house—not just sell you on it? Call Bryan Realty Group at 901-401-2208.