Updated: Feb 15
Homeowners often tend to operate quite a lot on incorrect information when they decide to list their house for selling. There may be many potential reasons behind this. One of these reasons is the sea of information present online related to selling houses. Even though there is a lot of information present online, all of it might not be accurate, which is what leads to the creation of myths.
These myths are what create doubts in your mind related to selling a house, hence making the process quite frustrating. Since your house is your life's most valuable investment, you shouldn't have to compromise on anything when you're it.
Hence, to clarify all your doubts and to set the record straight, we have put together this guide that tells you about the common myths about selling a house.
1. You Set the Price According to Your Suitability
No doubt, your house is your property, and any decision you take should solely depend on your wants and needs. However, that does not mean you should set a price that does not make any logical sense. Keep in mind that neither you nor the realtor sets the price, it's actually the market that sets the price!
It is an established fact that nobody would want to suffer a loss when they are selling their house, but the same situation applies to buyers as well. No buyer would want to buy a house that doesn't have the average market rate. If you fail to respect the market, there is a high probability that you'd suffer from your sale as well.
2. Never Hire a Busy Agent
Many people tend to think that hiring real estate agents who are busy may not be a good move as they won’t be able to invest time into selling your house. This old-age real estate myth is absolutely wrong!
There is a reason behind agents being busy, and it's mostly because they are so good at their job that more and more people tend to hire them. Even with their busy schedules, they have a proper system in place that helps them run things smoothly.
Hence, don't fall for the myth, instead, be wise when choosing an agent to sell your most significant asset.
You can easily hire them through various social media channels.
For E.g., Take a look at this LinkedIn profile of a real estate agent from Chicago.
3. Wait For the Right Season to Sell Your House
Many individuals tend to believe that there is a specific season in which you should enlist your property for selling. When you try asking for explanations behind these claims, you will be surprised to know that either they won't have logical reasons or would present lame excuses.
Take a look at the year-by-year sales of houses in the USA.
You can say, to some extent, that there are certain seasons in which the overall sales are generally higher. However, neither will that affect the rate of your property, nor does it mean that you should wait for that peak season time. What you can do is hire an experienced and skilled real estate agent and let him handle the situation for you!
4. You Can Price Your Home Based on Online Valuations
Online marketplace may help you get a rough idea of current market prices. However, looking up your house online and using that same price when listing the house for sale might not be a good idea.
Several factors should be taken into consideration when you have to list a house for selling, and these factors aren't taken into account in online valuations. Hence, it is always a better option to hire a qualified realtor to run the comps and give you the best price for listing your property.
5. Overpricing Would Lead to a Higher Selling Price
It is an established fact that nobody would buy the first house that they come across. Comparison shopping is a common thing, who wouldn’t want to save hundreds or thousands of bucks when buying anything? That’s right, nobody!
People tend to have a thorough look at all the comparable properties available in the market before making any offers.
In that situation, if your property is overpriced as compared to any other similar property, the buyer won’t even consider it in the first place. So, decide your price accordingly.
6. Enlisting The Property As “For Sale by Owner” Will Save You Extra Bucks
As much as you would like the idea of selling the property all by yourself and saving on the commission amount, it's not a good approach. If only it were that easy to sell properties, there would be no point in real estate agents existing, right?
As there are tons of properties available in the market you definitely need the help of a real estate agent to sell your property.
Even if you do land a potential customer for your property, there are higher chances that you won’t be able to sell for as much as you would’ve sold if you had an exceptional agent by your side. It won’t hurt to give a little commission if any agent helps you sell for a higher price now, would it?
7. Selling Your Property Will Be a Stress-Free Process
If you’ve been through the process of selling any property or even any other thing, you would know that it’s not always a breeze. As a matter of fact, it may turn out to be downright miserable at times.
Even with all the efforts that you may make to avoid problems, they may still come up somehow. So, hold up, take a deep breath, and sit tight, with a little help, you’ll do just fine!
Selling your property through an agent is a simple Six step process.
Easing Up the Situation
It must be pretty clear by now that there are a lot of myths circling around when home selling is concerned. These myths not only run around us, but at times, they almost haunt us. Having the right knowledge regarding the facts will hopefully provide you with enough ammunition to avoid the pitfalls caused by these myths.
However, it is always best to have professional help during these stressful processes so that your sale can be as effective as possible. So, to score profitable gains and to connect with quality cash buyers, you can get in touch with some of the best real estate like Honest Reviews 4 You.