Selling a house can be a bit like having a baby — everyone gives you advice
that may or may not be true for you. Here are ten myths uncovered:
1. Myth: You should always price your home high and gradually lower it if it
doesn’t sell.
Truth: Pricing too high can be as bad as pricing too low.
You may think by listing high you can always accept a lower offer, but if you
do, you’ll miss the buyers looking in the price range where your home should
be. Offers may not even come in, because interested buyers are scared off by
the price and won’t bother to look. By the time the listing price is corrected,
you will have lost a large group of potential buyers. When you list with THE SWEET TEAM at Keller Williams Realty, we
will provide you with a comparable market analysis. This is a document that compares
your home to other similar homes in your area, with the goal of helping you to
accurately assess your home’s true market value.
2. Myth: Minor repairs can wait until later. There are more important things
to be done.
Truth: Minor repairs make your house more marketable, allowing you to
maximize your return (or minimize loss) on the sale.
By and large, buyers are looking for an inviting home in move-in condition.
Buyers who are willing to tackle the repairs after moving in automatically
subtract the cost of needed fix-ups from the price they offer. You save nothing
by putting off these items, and you may likely slow the sale of your home.
3. Myth: Once potential buyers see the inside of your home, curb appeal
won’t matter.
Truth: Buyers probably won’t make it to the inside of the home if the
outside of your home does not appeal to them.
Many buyers drive by a home before deciding whether or not to look inside. Your
home’s exterior will have less than a minute to make a good first impression.
Spruce up the lawn, trim shrubs and trees, and weed the garden. Clear the
walkways and driveways of leaves and other debris. Repair gutters and eaves,
touch up the exterior paint and repair or resurface cracked driveways and
sidewalks. Place potted flowers out front, hang a wreath on the door and put
out a pleasing welcome mat for added curb appeal.
4. Myth: Once potential buyers fall in love with the exterior look of your
home, you put interior improvements on the back burner.
Truth: Buyers have no qualms about walking right out the front door within
60 seconds if the house doesn’t look like it could be theirs.
Remember that most buyers are looking for an inviting home in move-in
condition. Spending a few thousand dollars for the right work on your home
before you sell it, usually translates into a higher selling price and shorter
marketing time. When you list your home with THE SWEET TEAM at Keller Williams Realty, your dedicated SWEET TEAM real estate agent will consult with you about the repairs
and replacements that will benefit you most.
5. Myth: Your home must be every homebuyer’s dream home.
Truth: If you get carried away with repairs and replacements to your home,
you may end up over-improving the house.
At some point, improvements that you make to your home can exceed what is
customary for comparable homes in your area. For instance, there may not be
another swimming pool in your entire subdivision. After spending $20,000 to
install an in-ground swimming pool that you hope will lure buyers, you may find
that it only raises the market worth of your home by $10,000 because there are
no other comparable properties to support the market value of the pool. As a
rule of thumb, if your improvements push your home’s worth higher than 20%
above average neighboring home values, don’t expect to recoup the entire amount
of improvements. Your SWEET TEAM real estate agent can advise you as to the scope of
projects you might consider in preparing your house for sale.
6. Myth: Buyers are never swayed by sellers that offer creative financing
options.
Truth: By offering flexibility in financing options, you may lure more
prospective buyers.
You might consider offering seller financing, paying some of the buyer’s
closing costs, including a one-year home warranty, or other buyer incentives.
Your SWEET TEAM real estate agent, who has professional knowledge of local market
activity, can help you decide what incentives, if any, to offer.
7. Myth: You are better off selling your home on your own, thus saving the
commission you would have paid to a real estate agent.
Truth: Statistically, many sellers who attempt to sell their homes on their
own cannot complete the sale without the service of a professional real estate
agent.
Sellers who sell their home without a real estate agent often net less from the
sale than sellers who use one. You visit a doctor when you’re sick and take your
car to a mechanic when it needs repairs. It makes sense to contact a real
estate professional when you are preparing to sell your biggest asset!
8. Myth: Good sellers should be available to guide prospective buyers
through the home, giving the whole process a more personal touch.
Truth: Prospective buyers will feel more like the house could be theirs if
the current owners are NOT there.
The presence of homeowners during a viewing can make buyers feel like they are
intruding. They need to be able to visualize your house as their home, which
can be difficult to do when they are acutely aware that it is still your home.
Your SWEET TEAM real estate agent will be happy to look out for your home during open
houses or showings.
9. Myth: Successful sellers insist that the terms of the sale happen their
way or no way.
Truth: If you approach the sale of your home as the buyer’s adversary, you
risk losing a perfectly solid buyer for no good reason.
Both you and the buyer have the same goal: for you to sell your home and for
the buyer to buy it. Work with your SWEET TEAM real estate agent to approach negotiations
positively and with a win-win frame of mind.
10. Myth: When you receive an offer, you should make the buyer wait. This
gives you a better negotiating position.
Truth: You should reply immediately to an offer!
When a buyer makes an offer, that buyer is, at that moment in time, ready to
buy your home. Moods can change, and you don’t want to lose the sale because
you stalled in replying.
For questions on any of the information provided here, or to schedule your personal listing consultation, please give us a call at 813-966-4304. A member of our friendly staff will be more than happy to assist you!