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If you ask most people about the ins-and-outs of selling a home, chances are you’ll get a few diverse opinions. People who may have bought or sold only once love to give advice, this often does nothing but generate myths about the process.
Let’s take a look at some of the most common myths when it comes to selling a home:
Myth #1: The longer a home is on the market, the higher chance it will sell.
This is simply not true. In fact, the truth is just the opposite. The longer a home lingers on the market, the more likely it is to raise a red flag in the minds of potential buyers.
They tend to ask, “Why isn’t it selling? Is there a hidden flaw in it? Is it overpriced?”
The fix for a lingering listing is systematic price reductions. If potential buyers can see that the seller has been steadily dropping the price, then they will assume that the house was overpriced when it was first listed. This explains the long market time.
Also, they will come to the conclusion that since the price has steadily decreased, the seller is reasonable and is truly interested in selling their home at market value.
Myth #2: Condition and amenities matter more than price.
Surprisingly enough, this is also a common misconception. When it comes to selling, the right price is truly essential.
This does not mean that conditions and amenities are irrelevant, though. They can make the difference between one buyer loving or hating your house; however, price is a much more important factor for most buyers and is what gets the buyer’s attention.
Myth #3: Any real estate agent will do as long as they list the home on the MLS (Multiple Listing Service.)
This could not be further from the truth. While the MLS is a powerful tool and gets your home in front of a large number of people, simply being the on the MLS doesn’t get your home sold in today’s market.
Choosing the right real estate agent is an important decision. You want one with:
· A track record of successfully marketing and selling homes
· Strong negotiation skills
· Knowledge of, and connections in, the community
These three factors make all the difference in determining pricing, generating buzz for your home, and getting an offer on the table. A good real estate agent can actually create opportunities for you by encouraging a buyer’s agent to write an offer. The MLS can’t do this by itself. And a good agent is looking out for your best interest.
Getting an offer is only the beginning. Keeping a transaction together takes, skill, knowledge and a cool head when problems arise.
With these myths in mind, stay clear of hearsay and advice from non-experts. Stick with the person who knows best what sells a home: your local real estate agent.
That’s me! I am well connected in the community and can sell your home fast. Just give me a call at (206) 718-5863 or email me at june@windermere.com. Let’s get the ball rolling today.
