The Worst Home Selling Advice
Below you will find some of the biggest myths about selling real estate. These are myths that somehow some homeowners have come to believe are true. When you follow the worst home selling advice, you often end up with worst possible results. A home that didn’t sell and caused you a lot of stress in the process!
Don’t make any of these top home selling mistakes!
Practice makes perfect, and a great agent typically has a lot of experience. It is unlikely that you can hit all the right notes. And even if you can market to the right buyers, determine what improvements give the most bang for the buck and negotiate effectively to drive the price higher, doing so will be much, much more work for you than it will be for a practiced agent.
I understand that it is exciting to think about the possibility of saving thousands of dollars. If you are going to give selling on your own a shot, at least put the odds in your favor. If you must sell FSBO due to financial circumstances, at least understand how to sell a home without a Realtor. Take the advice to heart. Do what is needed to get your home sold as a for sale by owner. The tips mentioned in the article will go a long way to increasing your odds of success.
2. Online Estimates are a good way to price your home.
Price too high, the home won’t sell and may wind up selling for less than it could have, months later. Price too low and you lose money. There is too much at stake to trust a free calculator on a website.
Zillow is a valuable site for looking at and researching homes. Far too many believe, however, that the Zillow Zestimates are accurate. Using this as a means to price your home can cause your asking price to be way off the mark. Quite often selling as a for sale by owner and pricing a home using an inaccurate Zillow estimate of value go hand in hand. Never rely on an online valuation tool to give you an accurate estimate of your home’s value. Instead, seek out a top local real estate agent or an appraiser.
You will dramatically increase your odds of pricing your home correctly. Keep in mind that the wrong asking price is the number one cause of home sale failure!
3. Only sell your home in the spring.
There is no need to wait for the perfect season if you are ready to sell. There are also some types of properties that might do better in one season or another. Selling a waterfront home in the summer would be a prime example. If you live on a lake or ocean, this season offers one of the best times to showcase what makes your property special!
See some of the best home selling tips for every season of the year below. Without a doubt you can sell your home in other seasons! Use these tips to make it happen.
- Best home selling tips for winter. While there are typically fewer buyers in the market during the winter months, there are also fewer homes for sale as well.
- Best home selling tips for fall. Fall is a perfect time to sell your home.
- Best home selling tips for spring. Spring is the prime time home selling season in most areas of the country.
- Best home selling tips for summer. Depending on where you are located summer can be a fantastic time to sell a home.
Some sellers are in the position to make changes financially but don’t for various reasons. Often this can cause the seller to lose thousand of dollars they could have put in their pocket by just making a few sensible changes.
5. The agent you pick isn’t that important – they all do the same things to sell a home.
A good agent will have an extensive plan primed for marketing your home. You need to attract the right buyer, and you need to convince that buyer that your home is worth what you are asking. Doing so requires experience, marketing savvy, negotiating skills, extensive market knowledge, the ability to price the home right the first time, and much, much more.
Do your research and interview multiple agents before you choose someone. Find a professional that has a documented history of recent sales, sales that demonstrate an ability to sell homes for near the original asking price.
When selling a home one of the most important aspects, any homeowner should look for it accurate pricing. Who wants to list their home for sale only to find out what they were expecting to sell it for was totally unrealistic?
Having been a real estate agent for the past thirty years, one of the first things I do every day is checking the local market update. It is quite shocking to see just how many price reductions there are on a daily basis.
When there is a price reduction it says one thing – the home was not priced correctly! Not pricing your home accurately coming out of the gate is a sure fire way to sell it less than if it was priced appropriately. Don’t make the mistake of choosing a real estate agent based on an unrealistic sales price. Folks this happens all the time!
6. Open houses are necessary to sell a home.
While open houses may be one of the most recognizable activities in a real estate agent’s toolbox, the fact is that an open house may do nothing to sell your home. Open houses attract all sorts of people, but not necessarily the people you want coming through your door. Curious window shoppers, nosy neighbors, people without the income to buy, and even potential burglars and other criminals – open houses invite everyone in the door. There is no screening.
Your agent’s time would be better spent finding real buyers with the resources and the desire to buy your home. A serious buyer looking to find a home will always schedule a showing. More often than not a buyer scheduling a showing will be pre-approved for a mortgage. The odds of everyone coming through an open house being qualified is laughable. Listening to an agent telling you an open house is necessary is some of the worst home selling advice.
7. The listing agent needs to accompany all of the showings.
Real Estate agents do not talk people into buying a home. Buying a home is an emotional decision. Usually, within five minutes of walking through the door, a person can tell if they are interested in buying or not. Many owners are under the false assumption that if the real estate agent is there pointing out some feature like a security system, central vacuum, or something else, it will make a difference. Fat chance!
Part of why it is so important to take your time in choosing an agent is because you need someone representing you that you can trust. If you have made a decision you are happy with; then you can feel confident that your agent has your best interests in mind. Instead of coming to every showing, he or she may be better utilized in other ways.
If all real estate showings were accompanied, the productivity of every real estate agent would suffer. This is why we use lock boxes. Think about this – How would the agent be working on selling your home if he or she was accompanying the showings of every other property they were marketing? They wouldn’t be!
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