Debunking Myths About Real Estate

Hello, SELLERS and myth-believers! If you’ve stumbled upon this blog, chances are you’re either looking to sell your property or maybe you’re just a big fan of real estate folklore. Either way, you’ve come to the right place. With over 30 years as a Real Estate Broker/Agent, I’ve heard every myth, legend, and old wives’ tale there is about selling properties. And I think it’s about time to put these myths to bed, once and for all. So, grab a cup of coffee, and let’s debunk some of the most popular real estate myths together, with a sprinkle of humor and a whole lot of honesty.

1. If you OVERPRICE you will make more money.

Oh, if I had a dollar for every time I heard this one! Some Sellers believe starting high gives them room to negotiate down, but all it really does is help your neighbor sell their more reasonably priced home faster. Overpricing often leads to a longer stay on the market, and can even result in a lower final sale price. Remember, Buyers have agents too, and they can spot an overpriced home from a mile away. Price your home to SELL. And even more important…KNOW what the value of your home IS by hiring an Appraiser to provide with a LISTING APPRAISAL.

2. Spring is the Only Good Time to Sell

Sure, flowers bloom in the spring, but so do For Sale signs. While it’s true that buyer activity can be high during these months, selling in the off-season has its perks too. Less competition can mean more attention for your listing, and serious Buyers are always out there – rain, snow, or shine. Timing the market perfectly is less important than pricing your home right and presenting it in the best possible light. I have sold several homes in December…the truth is there are always BUYERS looking for property.

3. Renovate to Rack Up the Value

While renovations can increase your home’s value, not all improvements are created equal. Some SELLERS think they must overhaul their homes to get top dollar. However, sometimes minor updates can yield a better return on investment. Focus on fixes that have universal appeal, like fresh paint or fixing any maintenance issues. Remember, that gold-plated toilet might seem like a good idea, but will it pay off? Most likely not. AND…don’t forget about CURB APPEAL!

4. The First Offer is Always the Worst

This myth can hurt more than your sale; it can hurt your soul! Sometimes, the first offer is the BEST you’ll get, especially if it comes in quickly after listing. Waiting for a better offer can backfire, leading to a stale listing. Treat every offer seriously and consider the market conditions before holding out for something better that might never come. I promise you I have seen agents that have had clients turn down the first offer and six months later, they lament that they should have listened to their agent.

5. Open Houses Always Sell Houses

Open houses are great for exposure, but they’re not a guaranteed sale. In fact, a large portion of sales comes from private showings. Open houses can attract curious neighbors and window shoppers with no intention to buy and I hate to say it, but that is the truth. While they’re a tool in the selling process, they’re just one part of a comprehensive marketing strategy.

6. Online Estimates are Spot On

Online home value estimates can be a good starting point, but they’re often as accurate as a weather forecast in a hurricane. (You might want to check out my YouTube Video about using ZILLOW) These estimates can’t account for the nuances of your home’s condition, upgrades, or the local market trends, and more often than not they are just not accurate!! For the real scoop on your home’s value, consult a knowledgeable local agent (hint: like yours truly) who understands the market.

7. You Can Save Money by Selling it Yourself

Going the For Sale By Owner (FSBO) route is tempting for those looking to save on commission. But navigating the complexities of a real estate transaction without a professional can end up costing you more $$$ in the long run. Agents bring expertise in pricing, marketing, negotiation, and handling the legalities – all of which can contribute to a smoother sale and often a higher selling price.

And there you have it, folks – the top seven real estate myths, DEBUNKED! Selling your home is a big decision and falling for these myths can cost you time and money. As a seasoned agent, I’m here to cut through the noise and guide you to a successful sale, with honesty, expertise, and peace of mind.. So, if you’re ready to sell your home without the myths and misconceptions, call me and let’s talk.