There are a lot of myths that come up around the topic of real estate. It’s easy to perpetuate ideas that aren’t true because there are very few real estate experts at your standard cocktail party. So instead of getting advice about selling your home from your cousin’s friend or your neighbor try getting some advice for a true professional, a Realtor.
Here are 3 common home selling myths – and the truth.
The seller sets the price
It’s not uncommon for sellers to come to a listing meeting thinking the know how much their home is worth. The reality is that setting a home price is more of an art than a science and requires to help of a professional. A Realtor will pull comps from the area to find a price that’s just right. Your intimate knowledge of a home is important and your agent will likely ask you a lot of questions, but that doesn’t mean you have an accurate idea of value. It may not be the number you as a seller want to hear but it’s important to trust the expertise of your agent in this regard.
If you a home is priced too high it can lead to a longer time on the market, which lowers your bottom line. You can learn more about the process of pricing a home here.
Seller’s shouldn’t accept the first offer
There’s an interesting idea floating around the real estate world that sellers shouldn’t accept the first offer they receive. While there is some logic to this idea, you should not judge an offer by its timeliness but should instead examine the facts. Is the offer full price? Does it meet your timeline? Are the buyers asking for any concessions?
If the offer meets what you are looking for, there’s no firm reason to not accept it. Your agent will advise you through this process and help you accept the best offer. Just know there is nothing wrong with accepting the first offer you receive.
Most homes are market ready
We know how much you love your home. You’ve put a lot of work into it and think everyone will love it. Unfortunately, a perfectly market ready home is not common. Most all homes will need at least basic staging before hitting the market.
This doesn’t mean your home is in need of a renovation necessarily, just that the way a person lives in a home and the way a buyer sees a home is very different. Homes need to be neutral so that buyers can imagine themselves living there. Your Realtor will advise you on how to best prepare your home for the market so that you can get a quick, full price offer.
Now that you know the reality of selling a home, let’s get started. We’re ready to get your home on the market when you are. Get in touch today!