Are you looking to sell your home?
When you sell your home, it’s guaranteed that your friends and family will give you all sorts of ‘good advice’. But most of this wisdom isn’t only outdated, some of it could harm your chances of selling your home.
Don’t worry, we are here to help. Read on for some of the most common home selling myths that just aren’t true.
Your Home Will Only Take a Few Days to Sell
While the real estate market is hot right now, this is not always the reality. In fact, it actually takes 56 days on average for a US home to come under offer and, even if it’s under offer there’s no guarantee that the offer will always go as desired. Sales could fall through, especially if there are contingencies.
You Should Not Ever Take the First Offer
If the buyer is paying the asking price and more, and they’re in a good position, you’d be silly not to accept. By a good position we mean they have the finances in place, adore your home, and don’t have any contingencies.
You could keep your home on the market after you accept an offer to let the viewings continue but this can be insulting put your buyers off. If it all checks out, and you’re getting what you’re asking, then it would be silly not to accept.
You Need to Wait Until Spring to Sell
While some months may see peak house sale closures, the market doesn’t dry up at other times of the year. There are always people who want or have to move.
Home sales don’t stop because it’s cold and wet outside. If you want to sell your home (or you need to), don’t put it off. Help from an expert real estate agent is the best asset you’ll have for success than waiting for the ‘right’ month.
You Don’t Have to Worry About Small Repairs
When it comes to selling your home, you want it to look the best it can. More and more buyers want a home they can move right into, and not spend time and money overhauling from scratch. So, make sure potential buyers see your property’s full potential.
If they see cracked ceilings, peeling paint and faded carpets, it’ll represent poorly. Potential home buyers will begin adding up the cost of repairs they’d have to do immediately. Some buyers may want the project, but it’ll reflect in any offers you get.
So, before putting your home on the market, do an inspection from room to room. Make a list of the little repairs that are needed and get them sorted. It’ll be well worth the hassle it could save you further down the line.
How the Exterior Looks Doesn’t Matter
Even the most beautiful interior design work can’t make up for a shabby, run-down exterior. First impressions are vital, and it all starts with the curb appeal of your home.
Many times people enquire about a home because they drove by. Buyers see the sign, like the look of the outside and want to see more. If they don’t like what they see, they’re not likely to bother arranging a viewing.
So, take some time to spruce up the outside of your home. Tidy the lawn, put the kids’ toys away, and give it a fresh coat of paint, if needed. Showing your home is well cared for is key to establishing interest from potential buyers.
Buyers don’t want to add to their expenses when looking for a new home. If your exterior isn’t well cared for and up to par, you can’t expect to get the full asking price.
You Should Set Your Price as High as Possible
One of the most damaging errors home sellers and inexperienced realtors make when selling a home is overpricing which may lead to a lengthy time on the market.
The longer a home sits on the market the less desirable it looks to potential home buyers and may even drive away interest, making it even harder for you to find a buyer when you do lower the price. Most likely ending up selling for less than your original asking price anyway.
Everyone wants to get the most they can, but you have to be realistic. Having a professional real estate agent is vital. They’ll know what similar homes in your area are going for and can help set a good, but realistic price.
If I Sell My Home Myself, I’ll Keep More Money
Realtors exist for a reason; it isn’t easy to sell a home. There are legal and financial aspects that can confuse you if you don’t know what you’re doing.
Not to mention all of the compliance regulations that must be followed. It’s hard work. Trying to sell a home yourself requires that you handle everything from marketing, taking calls, and scheduling viewings yourself. It’s a full-time job that can easily take over your life.
By the time you add on the cost of missing work and other expenses, you won’t end up with much more than if you’d paid an agent. Add to the fact that without the same resources as a realtor, it’s harder to sell your property. Often, if for-sale-by-owner properties sell, they sell for a much lower price than an agent would have achieved.
I Need to Sit on Offers for a While to Boost Buyer Interest
Playing hard to get is questionable in romance, and it’s got no place in real estate. If you receive an offer from a potential buyer, you need to respond immediately, or as soon as you can.
You can choose to accept the offer, or put in a counteroffer. Your agent will be able to give advice and guide you on what’s the best way forward in that situation. The underlying message is that you want potential buyers to know you’re serious. Otherwise, they may retract the offer and go elsewhere for a faster response.
Don’t Let These Home Selling Myths Ruin Your Sale
So, there you have it! Now that you know these home selling myths, you’ll know what to avoid in your own sale.
If you wanted a trusted and experienced real estate agent to help with your house sale, then contact us today at Burnett Real Estate Group.