Top Three House Selling Myths Buyers and Sellers Believe
Every year, our property specialists at Professional Home Buyers entertain hundreds of questions from property managers and residents about house-selling myths. Many are related to return on investment rates of home improvements and whether a comparable market analysis makes a difference for the final sale price. Some are wondering about the right time to sell, what is a good starting point for offers, and whether working with an agent can save you money.
Selling a home requires attention to detail, marketing skills, and critical thinking. In this explainer, our property experts will outline the three most common myths home buyers, flippers, and landlords believe.
We can fill an encyclopedia with home-selling myths from speculative investors, but we will limit this list to the three most prevalent ones we hear about in our day-to-day interactions with clients.
You Are Responsible for Setting the Sale Price of Your Property
Before you put up a for sale sign, deciding what offers to take seriously is the first order of business as a seller. People are always looking for cheap real estate, especially with market corrections on the horizon and thousands of people leaving cities to work remotely. These events lead many sellers to believe they can ignore neighborhood values and justify a subjective selling price for their property without a comparable market analysis, which is number one on our list of house-selling myths.
The homebuying market does not care whether you need more money to avoid foreclosure. Even if your friends and family say you should aim for a higher or lower sale price, the factors that will affect the final decision will come down to the location of your property, its size, and the supply and demand dynamics of your local market.
Your buyers will remember the initial selling price you put on listings. There should be little to no variation to your final quote if you want a successful sale.
Working with a Real Estate Agent Can Save You Money
Most real estate agents charge commissions equivalent to 6% of your final selling price. They will also charge you survey and appraisal fees, title insurance, closing costs, home inspections, and loan fees. Working with local firms like Professional Home Buyers will allow you to turn your property into cash with no repairs, commissions, or fees required.
You Can Fetch a Good Price for Your Property without Using Social Media
Research from the Pew Research Center reveals that nearly 80% of people from 18 to 29 years old use Facebook, and 82% of people from 30 to 49 years old use Facebook, Instagram, Twitter, or another social media platform. These demographics comprise nearly 95% of home buyers in the United States.
Marketing your home online and improving its curb appeal will help you get better offers from a larger pool of people. The days of selling your home purely through word of mouth are long over.
Contact Us Today
Learn more about popular house-selling myths by talking to our property experts at Professional Home Buyers. Call our hotline at 316-202-1628 for a free consultation today.