Debunking The Top Home Selling Myths

Since it's a seller's market at present, many homeowners are considering moving. Whether they need to upsize or downsize, move closer to the city or the suburbs, put their equity to better use, or simply want a change, the real estate market has seen a dramatic surge in buyers. Unfortunately for some, there are more home buyers than homes for sale, which has given sellers the confidence that their homes will sell no matter what. Is this true? The following may help dispel some myths about selling a home in the current market.

Your Home Will Sell As-Is

The term "as is" when it relates to a home for sale may be a red flag to the buyer and indicate that there are serious issues with the home that the seller doesn't want to fix. If this means it needs painting inside, or it needs a serious housecleaning, that's one thing. However, the term can also indicate that the roof leaks extensively, the HVAC system needs to be replaced, there's a slab leak, or a myriad of other expensive conditions. A home inspection by a reputable company might provide insight, but that takes time that a buyer might not have. Listing a home "as is" might cause it to linger far longer than if you fixed the issues and sold the house in turnkey condition.

Fixer-uppers are popular, but with the current supply chain issues, many buyers are reluctant to invest in a home that needs substantial repairs due to the out-of-pocket costs they'll incur and the skyrocketing costs of lumber and construction costs.

Your Home Will Sell In A Few Days

Although homes are selling quickly due to a lack of inventory, those are usually homes that are competitively priced and in turnkey condition. You should, however, be prepared to move quickly when you list your home. If you have most of your belongings in storage and only minimal furnishings in your home, you may help it sell more quickly.

A High Price Means More Money

Although you may perceive your home as the best on the market, buyers may have a different view. Although many over-the-asking-price sales go through, there are many reasons for that, and you shouldn't assume that yours will be among those. List at a reasonable price for your home, and you may spark a bidding war. On the other hand, list too high, and you may have no bidders at all.

You Can Easily Buy Another Home

After your home sells, you'll be in the same position as your current buyer. You'll be looking for a home, and it might be challenging to find what you want. Therefore, it's prudent to have some prospects in mind when you list your home.

You Can Do FSBO And Save Money

Although many sellers discount the efforts of a real estate agent, it's entirely possible that you'll leave money on the table if you try an FSBO, which is "for sale by owner." Real estate agents have access to the MLS, which is the multiple listing service, and you may not have that access. In addition, if you're working with an agent to sell your home, they may be able to locate a home for you to buy when your sale completes. As a result, you'll probably be money ahead to list your home with an agent, even though that might seem counterintuitive.

If You Need A Real Estate Agent In Dallas...

If you're looking to move to Texas or sell a home in Texas and need a real estate agent in Dallas, then call our office at 972-467-3232 and let one of our skilled agents help you.