If you’re planning to sell your home, be aware of these myths about our market.
You may have heard people using the phrase “hyper seller’s market” to describe our current real estate environment. This refers to a fast-moving market where homes sell at or above market value, and it only benefits sellers. However, this doesn’t mean that sellers can get away with whatever they want. There are a lot of misconceptions floating around right now, and today I’d like to clear some of them up. Here are the four seller myths to be aware of:
1. Sellers can do what they want in a seller’s market: This isn’t always true. An overpriced home can sit unsold for a long time, and the same is true for homes that are in disrepair. It’s important to talk to a Realtor or appraiser to find out your home’s true value.
2. The home’s condition doesn’t matter: Buyers typically won’t offer as much when they find out a home needs major repairs. Talk to a real estate professional to learn more about your home’s condition and how you can improve it.
3. Pricing above the market will make you more money: Many people who do this end up having to reduce prices because their home sits unsold. It’s important to do a market analysis to see how your home should be priced.
4. You don’t need to hire a professional: Most qualified buyers are working with Realtors, so if you try to sell your home on your own, you’ll be dealing with expert negotiators. If you don’t have your own representation, you could miss out on selling your home at a high price. Additionally, listing agents know how to stage and market homes to attract more buyers.
If you have any questions about our market, or if you’d like to learn more, feel free to reach out to me. I look forward to hearing from you soon.