Here’s what you need to know about common real estate misconceptions.
Recently, I’ve heard a few misconceptions about our housing market that just don’t match up with what I understand about the industry. That’s why today, I’m debunking these myths and explaining what you can do to sell your home for the best price possible:
Misconception No. 1: The condition of your home doesn’t matter. This couldn’t be further from the truth. This myth seems to have gained popularity when our market was red hot; people believed that homes basically sold themselves, and you didn’t have to put any work in to get a great deal. While this impression wasn’t true back then, it definitely isn’t true today. Three main things impact how buyers perceive your home: curb appeal, first impressions, and general condition. You can improve all three of these items by putting in some work and improving the overall condition of your house.
“Agents do a lot for their clients.”
Misconception No. 2: Start with a high price; you can always negotiate lower. The logic behind this misconception is that if you start with a higher price, it will put you in a better position when you’re negotiating with your buyer. However, this misunderstands what your initial list price is for. Rather than a negotiating start point, this price is part of your marketing strategy. People are less likely to look at homes they believe are overpriced, which means you’ll attract fewer buyers and have to settle for a worse deal.
Misconception No. 3: You don’t need an agent to sell a home. The truth is that agents do a ton for their clients, like negotiating deals, setting a marketing strategy, finding an optimal price, consulting on repairs, and much more.
If you have questions about our market or these misconceptions, please call or email me. I’d love to hear from you!
