Don’t Overthink It- Home Selling Myths That Will Cost You Some Serious Coin
Does the thought of selling your home make you just a little nervous?
Or maybe you’d rather get a tooth pulled than prepare your home for sale, have strangers and who knows what else tramp through your living room while your real estate agent tells you to get lost for a few hours?
It’s not that big of a deal but what you don’t want to do is over think it.
We know it’s no small decision whether you’re practically forced to sell due to a job transfer or in the military and it’s PCS time or you’re simply ready to change your address.
And whether it’s your first sale or your last, don’t be misled by too much bad information floating around out there. So before you start searching the internet for home-selling hacks, here are four common myths about selling your home debunked.
Myth #1: Save Money, do the FSBO
FSBO (fizz-bow) is the acronym representing For Sale By Owner.
Real estate agents will charge a commission to prepare and market a home for sale and that commission will come from the proceeds of your sale. Depending upon what you negotiate, the commission could be as high as six percent of the sales price or perhaps a flat fee.
Don’t think you can save all that money selling the home on your own. To get the best and highest price, you need to reach a broad an audience as possible. The real estate agent has that reach, you don’t.
Myth #2: Do All Your Upgrades
Want to add a deck to get a better price? Maybe some beautiful landscaping for a fantastic curb appeal.
Let’s put in brand new appliances to make that kitchen sparkle!
But hold on a second, very few upgrades or improvements provide a 100 percent return and most will actually cost money and you won’t get back from the sale what you put into the upgrade.
Myth #3: Price High then Negotiate
While real estate negotiations are part of the process, pricing your home too high will turn away potential buyers. No one knows that you’re willing to negotiate and might think your price is firm. Work with your agent who will tell you how to price your home for the amount you want.
Myth #4: Sell in the Spring and Summer
Late spring and early summer you’ll find more buyers shopping for homes. You’ll also find more sellers as well.
But there shouldn’t be a rush to sell just because of the time of year. When there are fewer homes for sale and it’s in the fall or winter, you should remember when they’re buying during that period, they’re serious and you’re also not competing against all the other properties out there.
There are so many other misconceptions out there and they’re easily found with a few keystrokes. The problem is you don’t know which ones are true and which ones aren’t.