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The Case & Trial of Home Selling Myths

The home selling process is one that takes time. There are a lot of steps involved to ensure that you successfully sell your home at the value that your local housing market dictates. There are also a lot of tips out there that can help you to sell your home quickly. However, there are also a lot of home selling myths out there that you should avoid. The following are a few home selling myths that could actually hurt your ability to sell your home:

Home Selling Myths

Myth: Price Your Home Above Value and Adjust it if it Doesn’t Sell

Verdict: Overpricing your home is not the way to go. The odds that you’ll find homebuyers that don’t do their research are slim to none. This means that if you overprice your home, no one is going to buy it. The problem with adjusting the price as you go is that the longer a house sits on the market, the more wary a buyer is going to be about that property. You may end up lowering the price to the point where you end up selling it below its value.

Myth: Your Home Should be the Buyer’s Dream Home

Verdict: Of course you want homebuyers to fall in love with your home, but don’t go out of your way to make that happen. The last thing you want to do is spend an enormous amount of money over-improving your home to try and create the perfect property. Remember, most renovations aren’t going to help you turn a profit – you’ll most likely end up losing money on them. Renovations are meant to help sell your home more quickly, so stick to renovations that are more affordable. Also, remember that every homebuyer has different tastes and needs – you can’t please everyone.

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Myth: You Can Save Money by Selling Your House by Yourself

Verdict: Selling your home on your own means that you don’t have to pay a real estate agent a commission, but very few sellers are able to sell their homes by themselves unless they have prior real estate experience. Odds are you simply don’t have the resources that a real estate agent has. A real estate agent has the marketing know-how and the resources to get your home the most amount of exposure possible.

A real estate agent is also incredibly familiar with the selling process, from the evaluation of the home’s price to the staging of the home to the paperwork involved with closing a sale and more. These are just a few of the things that a real estate agent brings to a table that you most likely do not. By trying to save money on not having to pay a commission, you may end up losing even more money in the long run.

Myth: You Should be Present During Walk-Throughs to Provide More Thorough Information

Verdict: Some sellers believe that their presence can help sell a home. Not only can they provide detailed information about the property, but they can convince the buyers why they should buy the home. However, the presence of the owner will usually make buyers feel uncomfortable and under pressure, which will only hurt your chances of a sale.

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Nick Ratliff

Former electrical engineer & MBA Graduate turned Realtor in 2004

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