While myths exist in almost every industry, real estate myths can lead to major consequences when you’re selling or buying a home. Here are six myths to consider when making one of the biggest financial decisions of your life.
Always Price Your Home Above Its Current Market Price
Often, the thought behind overpricing a home is that it will leave room for negotiation. The problem, though, is that we live in a world of educated buyers who have access to endless resources. Pricing your home at its actual market value is always the best choice, and will save you from the unwanted hassle of back and forth bargaining that can lead to disappointment. When your home is accurately priced, you can prove its value and showcase the features behind the price. Check out this link if you’re looking for some budget-friendly ways to add value to your home.
All Real Estate Agents Are The Same
Like most professions, realtors have their specializations. While most realtors will have a sound understanding of the market and access to industry resources, there are some who have additional experience selling a particular type of home. For example, buying or selling a condo is different than an estate home. A realtor who has a history of selling a specific type of home and who has knowledge of your ideal neighbourhood will make a world of difference in your home buying or selling journey.
For Sale by Owner Will Save You Money
Why should you pay a realtor fee when you can sell your home on your own, right? Well, that’s easier said than done. Realtors have been educated to understand the laws, processes, and procedures of a home transfer. They will make your home buying process a whole lot easier when it comes to paperwork and understanding the fine print that needs to be thoroughly read over. There’s also the time commitment. Busy lifestyles are the norm nowadays, with families always on the go and careers taking up most of the day (and often nights!). If an interested homebuyer wants to take a look at your home and you’re scheduled for a big meeting, or your child’s soccer finals are taking place, you’ll be more than thankful a skilled professional is available to handle your home viewing.
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Bold Décor Has To Go Before You Sell
We’ve all heard it – a neutral colour palette is more appealing to homebuyers. However, this isn’t always the case and sometimes playing it safe may leave your home looking a little lackluster. Sure, vibrant or wild patterns may distract some buyers, but ultimately the biggest factor in a positive experience is a clean and kept home. Unique décor can actually make your home more memorable to homebuyers and keep them thinking about it long after they leave. So, before you decide to paint over your feature wall, focus on giving your home a good de-clutter and remove anything that’s too personal and that can take away from a potential buyer imagining living in your home.
An Open House Will Sell Your Home Fast
An open house may not attract the most serious buyers in the market, leaving you with more browsers and curious neighbours than actual home-buying contenders. When an appointment is set up to view a listed home, the homebuyers are usually pre-approved to purchase a home like yours and a realtor has already pre-screened your home’s features to ensure it meets the needs of the potential homebuyer. However, if you do plan on having an open house, here are some key tips to have your home ready for its market debut.
Never Sell In The Winter
Although home sales peak in spring, that doesn’t mean you should wait to list your home. There are likely reasons why you need to sell your home at that particular time, and there may be someone who is also facing a time sensitive move, and your home could be exactly what they are looking for. Selling your home in the cooler season also has the benefit of entering a less saturated market.
Let me know you have any questions or if there’s another real estate myth you’re curious about. Give me a call at 780-709-0811 or contact me here!Chris Proctor on