Here are five common assumptions about our market that simply aren’t true.

The current market has been favorable, with home sellers reviewing many showings and offers. This has led to misconceptions that homes are basically selling themselves.

There is so much noise out there about the seller’s market we’re in that we’ve compiled a list of the five most common myths that home sellers believe and how you can avoid them. Here are the truths behind these commonly held beliefs to help you make better home-selling decisions:

Myth No. 1. Your home will sell in three days. We know there’s a housing shortage, and homes do sell in three days. However, there are so many other factors that go into how quickly a home will sell. 

Myth No. 2. You can price higher than market value. Pricing too high will scare off potential buyers. They may sit on the sidelines and wait for price reductions or pass on your house entirely. Historical data says that you’ll net less money with this strategy than pricing accurately.

Myth No. 3. You don’t need to make any repairs or updates to your home. While major renovations may not be recommended, simple updates like painting or staging can really spruce up a home without much of an investment.

”You’ll net less money by overpricing than by pricing right.”

Myth No. 4. You can sell your home as is. This may lead buyers to believe there are underlying issues in your home, which could potentially affect your bottom line, the number of offers you receive, and the prices of those offers.

Myth No. 5: You don’t need a real estate agent. There are many moving parts when you sell your home. You’ll need to secure and pay for professional marketing. That includes photography, virtual tours, drone footage, and virtual walkthroughs. Do you know how to market a property? You’d be required to answer incoming phone calls, deal with people knocking on your door during dinner, schedule showings, negotiate inspection items, get estimates, and complete all the legal paperwork required. You can put a sign in your own yard, but can you do the rest of this stuff? How much money would you be leaving on the table if you did?

If you have questions about selling your home, any of these myths, or anything else related, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.