Watch out for these common misconceptions about our market.
It’s no secret that we’re in a hot seller’s market. Homes are selling for above and beyond asking price, sellers can negotiate fantastic terms and conditions, and competition is fierce among buyers. However, some people think this means they can list their homes at extremely high prices, or that they don’t need to do any preparation whatsoever.
“Sellers are able to set very favorable terms and conditions because buyer demand is so high.”
Because these types of misconceptions can tank your home sale, today we’ll be talking about four common myths surrounding our market:
1. You won’t be able to buy once your house sells: We believe this is stopping many people from putting their homes on the market—they’re simply afraid of what could happen next. However, sellers are able to set very favorable terms and conditions because buyer demand is so high. It’s not difficult to extend closing dates and do other things to extend your stay while you search.
2. Your home’s condition doesn’t matter: Though your home may still sell, you’re likely leaving a lot of money on the table if you ignore your property’s condition. We often see the buyers flock to the cleaner-looking homes, so we always show sellers ways that they can easily improve their house and earn top dollar for their sale.
3. You can price your home for as much as you want: It’s always important to set an appropriate asking price. Even in a market like this, buyers are very concerned about overpaying for a home. If you list too high, buyers will hesitate to make an offer, and your home will sit on the market for a while. Eventually, you’ll likely have to sell at a lower price.
4. You don’t need a Realtor to sell your home: It’s tempting to sell your home on your own and save on the commission fees. However, if it’s not staged, marketed, or priced correctly, your end result won’t match all the effort you put into the process. Unfortunately, most people who sell on their own don’t realize this until they’re at the closing table. We get upwards of 50 showings on each of our homes, which drives the competition, creates bidding wars, and nets our clients more money for their sale. If you don’t know what you’re doing, it can be incredibly difficult to navigate all of these showings and offers.
If you’re thinking about selling your home and have any questions, or if you’d like more information about what we can do for you, feel free to reach out to us. We look forward to hearing from you soon.
