The Process of Selling a House – 5 Myths Uncovered
If you want to know the true value of your home Click Here! or call The Diemert Properties Group at 425-308-6641 to get your home’s true value and find out the process of selling your home.
The process of selling a house does not have to be difficult or stressful if you hire the right agent and follow what they say to do. It all comes down to the correct price and getting your listing out there for everyone to see with the right marketing. Here is a list of the top 5 selling myths uncovered.
Myth #1: You should always price your home high and negotiate down.
Truth: Pricing too high can be as bad as pricing too low. If you list too high, you will miss out on buyers looking in the price range where your home should be. Offers may not even come in, because buyers who are interested in your home are scared off by the price and won’t even take the time to look at it. By the time you correct the price and list your home at its true market value, you will have lost that window of opportunity when your home draws the most attention from the public and real estate agents; i.e. the first 30 days that it’s on the market. A well-trained agent who looks out for your best interests will consult with you on your home’s fair market value and different pricing strategies for the current market.
Myth #2: 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. Most buyers are looking for homes that are ready for them to move into. If your home happens to attract a buyer who is willing to make repairs, he/she will begin asking for repair allowances that come out of your asking price. The amount of allowance that you have to offer a buyer is usually more than what it would cost for you to make the repair (or hire someone to make the repair). Remember, buyers, are comparing your home to other homes that are currently on the market. Your home should be inviting so that everyone who looks at it can see themselves living there.
Myth #3: Once a potential buyer sees the inside of your home, curb appeal won’t matter.
Truth: Buyers probably won’t make it to the inside of your home if the outside of your home does not appeal to them. Buyers and their agents often do drive-bys before deciding on whether a home is worth their time to look inside. Your home’s exterior must make a good first impression so that buyers are compelled to stop and come inside. All it takes is keeping the lawn mowed, shrubs & trees trimmed, gardens weeded and edged, and clutter put away.
Myth #4: Your home must be every home buyer’s dream home.
Truth: If you get carried away with repairs and replacements to your home, you may end up over-improving the house. There is a point where improving your home doesn’t pay off. The key is to consider what competing properties feature and look like. A highly-motivated real estate agent will consult with you on what competing properties have to offer – he/she can even show you competing properties so that you can make sound home improvements.
Myth #5: 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 have stalled in replying.
Compliments of Tracie Diemert with the Diemert Properties Group. If you or someone you know is thinking about selling call us today at 425-308-6641 or Click Here to get an online valuation of your home.