Doesn't it seem like everyone you know becomes a real estate expert when they hear that you're trying to sell your home? While friends, family, and colleagues have good intentions when offering real estate advice, they're often relying on outdated info or common misconceptions about the real estate industry. It's so much easier to sell a home when you tune out the noise, ignore advice that doesn't work, and focus on tips from pros with their finger on the pulse of the industry. Our REALTORS® are here to help, with seven home-selling tips you should ignore.
- "Spring is the only time to sell your home."
Yes, real estate shoppers often hit the market in force during the spring months, but that hardly means that spring is the only time to sell. When you list during the busiest months, you also have to deal with increased competition. Selling your home during the winter or other "slower" months can be a great option because there are still people looking for homes and you'll have less competition for their attention.
- "Go 'For Sale by Owner' to Save Money"
Some people will promise that you can save on real estate commissions by listing your home "For Sale by Owner," but in the big picture, the right real estate agent will save you time and money. The cost of marketing the home, attracting buyers, and handling the logistics of the sale on your own will often be much more than you would spend to secure the services of a quality real estate agent.
- "A high asking price leaves room to negotiate."
While a high price may technically leave room to negotiate, in practice it will usually keep negotiations from ever getting started. Buyers will look for a comparable home that's priced based on market realities, rather than bother negotiating on a home with an unrealistic asking price.
- "The first offer is the best offer."
Getting your first offer on a home is exciting, but that doesn't mean you should race to accept it. While it could be the best offer, it could also be somebody looking for a "deal." Carefully consider any offer that arrives. Do not assume that the first offer will be the best one.
- "Hide maintenance problems with a coat of paint."
Trying to hide maintenance issues with a coat of paint or other cover-up tactics is a bad look for sellers, and can open you up to liability. It's always better to be honest about the condition of the home and invest in real fixes for maintenance issues.
- "An open house is the only way to find a buyer."
An open house can indeed be a great way to attract buyers and generate interest, but it's not the only way. Be open-minded to other opportunities to promote the home, including individual showings for potential buyers.
- "Here's what the market will look like next year."
A friend who's plugged into financial industries in your area may have an opinion on, for example, what the market for Mansfield homes for sale might be next year, but remember that it's just an opinion. Nobody knows how the market will change in 12 months, so it's good to take those predictions with a big grain of salt.
Working with the right real estate team is the easiest way to avoid bad advice and learn what it takes to sell your home. Contact us to buy and sell homes throughout the Mansfield.