5 Real Estate Myths

The world of real estate can be complex – particularly for those with minimal experience of it. As a consequence, it’s easy to be fooled by common myths regarding the sale of your home. Today’s blog looks at the five biggest myths of selling your home, which with very few exceptions, simply aren’t true.

Quick offers mean I should raise my price

When you get loads of quick offers, it’s easy to assume that this must mean you priced your home for too low a price. So, you should raise it up to encourage bidders to offer more. Realistically, any Lakeville realtor can tell you that quick offers can mean many things. Your home could just be in a prime location that everyone is keen to move into. Or, you may be the only home on the market with a specific feature that people need. Raising the price could result in everyone backing out, appraisal issues, extended market time, and a much lower price down the road. If you priced it correctly in the first place, there’s no need to increase it when offers fly in.

My bright colored walls and family photos will help show our warm personalities

Nope. Family photos and whacky wall colors do one thing; scare buyers away from your home. It’s hard to imagine living somewhere, when the current residents are plastered on the walls. Plus, the crazy decor puts people off as it a) makes it hard for them to imagine living in that space, and b) means they have more work on their hands to re-decorate.
Automated Home Values are the most accurate way to price my home
Wrong. This is the quickest way to price your home, but automated home values are rarely as accurate as using genuine real estate experts. Work with an Apple Valley realtor, and they will properly analyze your home, and work with fellow experts to figure out the actual price, based on the wider market, features and amenities.

Skipping the use of a realtor will save me money

In theory, if you don’t use a realtor, then you don’t have to pay their fee. So, it’s clear why people think this equates to saving money. But, it’s not a simple as that. Working with an expert realtor like Ryan DeRoode, means you have someone that can provide many benefits during the sale. Pricing your home is vital, as well as marketing to qualified buyers, proper staging, photography, and negotiating the best possible price and terms. They can ensure you get the best price for your home, which means you actually make more money. Plus, realtors have access to other people in the industry – like home stagers, photographers, home inspectors, etc… – and can often provide discounted rates to clients for these services. So, all in all, you save money by using a realtor.

My home looks fine – potential buyers will see past its ‘warts.’

If your home has a bunch of little issues here and there that make it look “unattractive”, then this is an issue. Buyers won’t always see past them – in fact, it will be all they focus on! To them, your ‘warts’ represent money they’ll have to spend to fix your home. In reality, spending money upfront to fix these issues, will surely net you more money in the end.

Hopefully, this opens your eyes to the many real estate myths out there. If you need help selling your home and want expert knowledge from a realtor with genuine integrity, then contact Ryan DeRoode today.