3 Myths About Selling Your Home
Benjamin Franklin once advised, “Believe none of what you hear and only half of what you see.”
Though he probably wasn’t referring to home ownership, this counsel is as true in real estate as it is in life. Still, we’re bound to believe what we’re told — until we’re told better.
As a home seller, you’ll run into a myriad of myths. And that’s OK — as long as you take a moment to find out what information could be missing before you make the next move. Here are three prevailing myths to keep you in check during the process.
Myth #1: You can’t sell your house without a Realtor.
Says who? Selling your home without an agent not only means more money in your pocket, it also means having the freedom to do things your way. And you’re not alone. ForSaleByOwner provides step-by-step instructions for what to do, from when you decide to sell to when you hand over the keys. With a little preparation, you can manage the selling process and avoid handing over a pricey commission to an agent.
Myth #2: It’s OK to sell your house just as it is.
You look around your house, and all the memories you’ve created there come flooding back. You don’t see the cracks or small areas of disrepair. When a buyer looks at your house for the first time, however, he or she will only see the flaws. Don’t forgo the fixes that have the potential to upgrade your home. Even minor cosmetic tweaks can go a long way in enhancing your home’s image. And in the long run, they’re an investment worth making if they land you an offer.
Myth #3: A higher price is a better price.
Be careful what you wish for when it comes to return on your investment. Sometimes a high price can hold you back. Often, buyers avoid looking at homes priced above market level. If you decide to lower the price after a couple of weeks, people assume there must be something wrong. You obviously want to leave room for negotiation, but don’t put the asking price so high that you alienate potential buyers or force yourself to drop the amount precipitously. Your pricing strategy can make or break your sale.
If you’ve made the decision to sell, heed these myths before you proceed. Do your research, make those minor repairs and work out a price that makes sense for you and your potential buyer. You know where to go to separate fact from fiction and ready yourself to enter the world of real estate on your terms.