Selling a home can be stressful and confusing, whether the market is strong or slow. There are a number of myths surrounding the process of home selling that can result in smaller profits and a longer time on the market. Take a look at a few of the most common myths before you list your home.
You Don’t Need An Agent
Putting up that “For Sale By Owner” sign can be tempting—you can keep the agent fees and make a little more money off of your home. But even the smoothest home sale involves a complex process that most people don’t have the experience to handle.
A REALTOR® will help to schedule and handle showings, acting as a go-between for you and the potential buyers. The expertise of an experienced REALTOR® can also help you to decide how to price your home, when to lower the price, which offers to consider, and which to decline. And of course, when it comes to the hefty paperwork involved, you are likely to find it is better to let a professional handle it.
Open Houses Are A Must
Open houses are a staple of home selling, but they aren’t necessary to selling your home. An open house tends to attract a lot of people who are just curious, aren’t serious yet about buying, and probably aren’t pre-qualified and ready to make an offer. Serious buyers often prefer to see a house on their own timetable so that they can look it over carefully without dozens of other people around.
That doesn’t mean you shouldn’t have an open house, but it’s not a requirement to get your home sold. A good REALTOR® will successfully market your home to serious buyers with or without the open house.
Renovating Will Bring A Higher Sale Price
While you certainly will get more interest on a house that looks good than on one in a state of disrepair, not all renovations bring the return on investment you might think when it comes to the final sale price. As a general rule, major renovations don’t have a big return on investment.
A REALTOR® can help you to determine which repairs and changes will increase your sale price and which are not worth the investment. Before you start big improvement projects, be sure to research whether they are worth their weight when it comes to the bottom line—your sale price.
Home selling can go smoothly with the right advice and some careful research. Before you list, make sure you’re not falling into the trap of well-known selling myths.
Photo Credit: @ametov41 via Twenty20