In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others
THREE HOME SELLER MYTHS YOU NEED TO KNOW
It seems like as soon as you metion that you’re thinking of putting your house up for sale, everyone wants to give their opinion on the subject. There are a number of things that you may hear from your friends and family that just won't be good advice and will not help you reach your ultimate goal...to sell your home in the least amount of time for the most amount of money!! Let’s debunk a few of those myths so that when you’re ready to sell, you'll know the facts!
MYTH #1: Automated Home Evaluations Are Always Accurate
Have you ever seen an Ad on Facebook that says “CLICK HERE" to automatically determine your home’s market value” or something along those lines? If the answer is yes, I promise you’re not alone. The problem with the automated home evaluations is that they are not taking every factor into consideration and can result in false information, causing you to believe that your home value is less than what it actually is or even higher than what is realistic.
The internet doesn’t know if you refinished your hardwood floors, updated all your landscaping, added a brand-new deck or any other update you’ve put your hard earned money (and possibly even your own valuable time into) to improve your home.
What type of evaluation could give you an accurate answer? One where a LOCAL Real Estate Agent asks you for your contact info so they can conduct a personalized market analysis after asking you for more details about your home. Even better, schedule a consultation so that Agent can see your home in person and give you the MOST accurate answer. Listing Consultations cost you zero dollars and you have no obligation to order the for-sale sign and start signing afterwards.
MYTH #2: If You Don’t Have an Open House, Your Home Won’t Sell
Have you ever heard the actual stats on the success of an Open House? According to a 2017 survey by the National Association of REALTORS, only 7 percent of buyers find the home they buy through an Open House.
This isn’t to say that your home shouldn’t have an Open House when it’s for sale, but it also isn’t the most effective marketing strategy. Holding an Open House will help increase exposure when your home first hits the market. So if having an open house is important to you, it would be recommended to have your Agent hold one the first week that your home is on the market in order to drive as much traffic as possible to your listing. However, make sure your Agent has other marketing strategies they use other than standing around your house for a couple of hours every weekend.
MYTH #3: If You Price Your House on the High End, You’ll Have Room to Negotiate
Many sellers believe that if they price their house high, they’ll end up at the price they actually want. The problem with this is, that you’ll be decreasing the demand (number of interested buyers) when you first list your home, which will automatically create a mindset that the home is priced too high.
When your home hits the market, you want to make sure you are drawing from the biggest pool of buyers to get as much exposure as possible. Pricing it on the high end will eliminate buyers who can afford the price you actually want because their budget might not go up to the price you’re starting with. Instead, price it at or slightly below the market value to increase demand, competition and ultimately the amount of money in your pocket.
If you’re thinking of listing your home in the near future, you’re already in a better position knowing the truth about these common seller myths. To be even more prepared, make sure you schedule a listing consultation with a Real Estate Agent to find out what else you should know before listing your home for sale.
I AM REDEFINING REAL ESTATE I believe that the vast majority of real estate professionals are underserving their clients and we need to do better. Helping people buy or sell real estate should not be....
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