Here are the top six home selling myths that you need to be wary of:
1. You can sell your home on your own. I can understand the temptation to sell your home on your own—you wouldn’t have to pay any of those extra fees. Selling a home, though, involves more than just listing it on Zillow and sticking a “For Sale” sign in your yard. If you try selling your home on your own, you have to handle all of the marketing and take care of weeding out all of the non-serious buyers.
If you hire a Realtor, they can attract the right kind of buyers to your home and negotiate on your behalf to get the best possible price. It’s all a matter of establishing a relationship built on trust and communication.
2. You know best what your home is worth. After all the time and money you’ve put into your home, who knows it better than you, right? Wrong. Home valuations should be left to the pros, and sellers aren’t always the best judge of value for their home.
Homeownership is a personal experience, and when you put your home on the market, you have to emotionally detach yourself from it, which can be difficult. When people try to sell their home on their own, statistics show that they tend to overprice it. This is because they have a hard time understanding its true market value and what the market is like in their area. A Realtor, on the other hand, has access to comparable sales data and can identify your home’s best listing price.
3. It’s fine to sell your home as is. You might think your home is already in good enough condition to put it on the market, but you might be overlooking some necessary changes you need to make to it to boost its value. The four best areas you can upgrade in terms of return on investment are your walls, doors, floor, and kitchen.
4. Renovations should be drastic. You don’t have to do a full-scale remodel to get your home in prime selling condition. You want to be judicious about your improvements, because not all of them will bring the return on investment that you expect. After a certain point, if you make too many improvements, you’re just wasting money. On top of that, not all buyers share the same design tastes as you do so they might just look at some of your upgrades and think of the extra work they have to do if they do buy the home.
5. Spring is the best time to put your home on the market. While it’s true that spring is the busiest home selling season, any season is a great time to sell. The only times you may want to avoid putting your home on the market are during the holidays and perhaps early January. Even in the “off” seasons like winter and fall, there are plenty of buyers out there, and these buyers are often the most serious about buying. Your home may not get the same foot traffic if you list it during the winter or fall, but you’ll still get a great deal for it.
6. You can rely entirely on online home value estimates. The automated home value estimates you see on Zillow, Redfin, and Realtor.com work well as a starting point for pricing your home, but there’s no substitute for talking to a real estate expert such as myself. There are certain variables in our market—especially the condo market—that online home value estimates don’t account for. If you want to know what your home is really worth, just give me a call and I’d be happy to provide you with a comparative market analysis
If you have any more questions about these real estate myths or you’re thinking of selling your home soon, don’t hesitate to reach out to me. I look forward to speaking with you.