3 Home Selling Myths
Who’s up for airing some dirty laundry—real estate edition?
Today, I’m unraveling three home-selling myths I hear all the time. By the end of this post, you’ll laugh in the face of such outlandish tales!
Myth #1: Selling by owner saves me money.
It can seem that way at first, but did you know 90% of for sale by owner attempts fail? It’s true. If you want maximum profit in minimum time, working with an agent is the way to go. On average, partnering with an agent will get you 25% more on your sale—completely covering any agent commissions.
Myth #2: I know how to price my home.
When selling emotions run high, especially if you’ve lived in your home for years. Sometimes I have sellers who love their home so deeply, they can’t see clearly where to price it. Other times, sellers are looking to recoup 100% of their upgrade or renovation costs.
Truth is, pricing a home is more than emotions or renovation costs. It’s comps, location, size, age, condition, updates, and other economic indicators. While a good agent will always listen to your ideas, he or she will use tried-and-true methods to price your home accurately.
Myth #3: Pricing high will give me room to negotiate.
“Let’s price it a little higher so I’ll have more room to negotiate,” says a well-intentioned but sorely mistaken home seller. Sigh.
This happens a good bit, but listen up, friend! Overpricing is the #1 way to sabotage your home sale. Pricing a home higher will lead to a higher sale price is just flat out WRONG! The first few days of listing typically bring the highest offers—overprice it and buyers won’t be interested. They’re working with agents who know what your home is worth.
Alright, savvy sellers! You’re ready to debunk these myths the next time they rear their ugly heads. In the meantime, shoot me a message if I can help you or someone you know with any other real estate questions. I’m here to serve you.