I recently came across some very interesting and de-mystifying information courtesy of the Texas Association of REALTORS® directed at first-time sellers. The Association warns that there are lots of myths out there about the right way to sell a home.
While a REALTOR® should serve as anyone’s first line of defense against making typical seller’s errors, the Texas Association has published the three most-common selling myths and truths. They include:
Myth: I bought a house, so I know what it’s like to go through a real estate transaction. I’ll sell my home on my own and save money by not using a real estate agent.
Truth: REALTORS® don’t work for free, but that’s because they provide valuable assistance through the home-selling process. Selling isn’t the same as buying, and a REALTOR® can help sellers reduce the risk of making costly selling mistakes. Plus, they help clients with the ins and outs of property transactions every day, and are plugged into their local housing markets. If you DIY, that means you’ll have to spend time marketing your home adequately, be available to show the home yourself, and navigate your way through a tricky transaction alone.
Myth: If I price my home higher than market value, I’m leaving room for negotiations.
Truth: Buyers have no idea sellers are employing this strategy and won’t understand why a price is too high. Many won’t even view the home, much less put in an offer. When a home is priced improperly, it’s more likely to sit on the market, making potential buyers think there’s something wrong with it. When that happens, sellers may wind up with lower offers than if they had priced the home fairly at the start.
Myth: All I need to do is mow the lawn and hide my stuff in a closet and my home will be ready to show.
Truth: Is a mowed lawn and hidden clutter all it takes to attract you to a home? It won’t work for potential buyers of a property, either. Your REALTOR® should go through your home and identify areas that could use some sprucing up to make your home more appealing. Or, he or she might recommend working with a home stager to make the best impression. Be open to those suggestions because REALTORS® know best what makes a property sell quickly for top dollar.
