If you have decided to sell your place, there’s a big chance that you’ll come across at least a few of these myths. Not every piece of advice you get about selling is true – let us debunk the 8 most common myths about selling a home.
MYTH 1: You can sell your home on your own, hiring an agent is not important.
Truth: A good agent on your side can speed up the sale; connect you with the right buyers and market your listing with the right approach. It’s almost always a win-win to get hold of a professional to handle the sale, especially if it’s your first time in the market.
MYTH 2: You should choose an agent who guarantees a high price and quick sale
Truth: Instead of relying on claims, hire a real estate agent based on his or her credentials, experience, past record and customer reviews.
MYTH 3: You should always price high and then lower the rate upon negotiations
Truth: Going way above the market rate will decrease the number of buyers looking into your home, which will eventually reduce your chances of closing a quick and successful sale. Price it right, keeping a margin for eventual negotiations.
MYTH 4: Minor details and repairs don’t matter much
Truth: Actually, they matter a lot and can sometimes make all the difference in finalizing a sale. A beautiful exterior and attention to detail make a good first impression and help buyers visualize the house as their future home.
MYTH 5: Buyers usually go for the cheapest price
Truth: On the contrary, too low of a price may seem like a red flag to the buyer and they might wonder if there is something wrong with the place. Research the market to find the average pricing for homes similar to yours, and then quote a price that’s neither too high nor too low.
MYTH 6: You need to build a dream home for the buyer
Truth: While it is important to have some repairs and detailing done in the house to enhance its curb appeal, going overboard with upgrades can make a dent on your pocket and over-improve the house to the point where the buyer may not see themselves in it. Try to strike a balance – add amenities and upgrades that enhance the worth of the home, but make sure you get the comparable value for the additions too.
MYTH 7: You should not give a quick answer if you get an offer
Truth: Thinking through an offer and contemplating it is important, but keeping the buyer waiting for weeks is never a good idea. Your best bet would be to research and decide on a final price beforehand and then close the deal immediately once you get a good offer.
MYTH 8: A ‘For Sale’ sign is enough to get the house sold
Truth: Times have changed, and so have the methods people use to buy property. Online marketing, listings, auctions and agent referrals are faster and much more effective methods of marketing and advertising your home for sale.
If you think we missed out on a common myth related to selling a home, don’t hesitate to contact us and we’ll add your myth to the list!