Don’t Believe These 4 Misconceptions

Don’t believe these misconceptions about hyper seller’s markets.

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Here are four misconceptions about a hyper seller’s market that you shouldn’t believe:

1. You have to have a plan to sell. It’s good to have some type of outline, but you don’t need to have it down to an exact science. A lot of sellers think they have to sell their homes and have an existing home available right away. However, it’s common for sellers to sell their homes, have a 30-day close, and then have a 30- to 60-day rent-back period. Sometimes, this rent-back period is free. In any case, this gives them time to figure out how to move into their next home. 

2. The condition of the house doesn’t matter. You always want to make sure your home is in good condition when selling, no matter what market you’re in. Even in this hyper seller’s market, your home needs to be in good condition. If you accept a buyer’s offer but they discover a whole bunch of problems with the home during the escrow period, they may back out of the deal. To prevent this, make sure your home goes through some type of inspection before selling (which you’d attend with your agent).

3. Price doesn’t matter. It’s true that if you list your home, it will likely sell quickly (hopefully with multiple offers). However, we’re seeing sellers get on the greedier side and list their homes above where they should be. The problem with this is that buyers have a certain limit, and if you overprice your home, they won’t even look at it. 

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" You always want to make sure your home is in good condition when selling."

4. You can sell as is without any professional help. You might get a few offers by doing this, but there are a lot of things to consider when listing a home. For example, is it staged correctly? Is it marketed correctly? How will you deal with multiple showings the first weekend after you list? If you get multiple offers, how will you navigate through them and make sure you choose the best one? 

Selling by yourself is not a good idea. Get a professional to help you. You’ll have a much easier transaction and deal with far less stress. 

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.