Misinformation about the property market has always been spread between generations; but in the new age of technology, it’s passed around much more vigorously online. Fortunately, we can also give thanks to the internet for allowing us to fact check those myths and make decisions based on information, rather than what the rumour mill is saying.
Here are 5 common myths about house selling that you can safely ignore:
Myth #1: You won’t achieve a good price without getting a new bathroom/kitchen fitted
While attractive kitchens and bathrooms are certainly strong selling points, the matter of choosing a brand-new kitchen or bathroom boils down to trying to predict the taste of prospective buyers – which unfortunately, is impossible. In some cases, it might be better to save your money on the renovation and trust that the right buyers will love your home as it is. Having said that, you can still enhance the value of your house by sprucing up the décor and making a few necessary repairs, so make sure to do your research and find out how to get your home looking at its best for buyers – without having to spend thousands.
Myth #2: You should always turn down the first offer
This can be a rather inimical myth if taken as gospel, as keeping this falsehood in mind could result in missing out on a great buyer. While this myth may actually be true in some circumstances, you should not let panic dictate your decisions. Many sellers will jolt at immediate offers and worry that they have priced their house too low. In reality, serious buyers will be scanning property
portals on a day-to-day basis, and the ‘freshness’ of your listing is what will make it stand out to them immediately. ‘Hot’ buyers move fast, and their offers are usually worth serious consideration.
Myth #3: Selling without an agent can save you money
You may have heard it said before, “You don’t need an estate agent, save your money!”
While this hypothetical person may have your best interests at heart, this is poor advice that could cost you thousands. Your home is your most valuable asset and investment, so it needs to be placed into the hands of a trustworthy professional who has a thorough understanding of the market and will know how to achieve the best possible sale for your home. Trying to navigate the housing market without any expertise can leave you susceptible to fraud, under-pricing and uninformed decisions that could result in a loss rather than a gain.
Myth #4: A house can sell itself
While demand for attractive houses is high, this alone will not guarantee that you will achieve a great price or even enquiries without some effort and help. In this day and age, a ‘for sale’ sign is not enough to garner buyer attention towards your property. In order to sell your house at a good price, you will need great marketing, the right connections, and a whole lot of preparation.
Myth #5: You need to sell during ‘property season’
Of course, timing is important, but it should always be noted that the property
market remains in a constant state of fluctuation, and while seasonal trends and correlations are predictable, specific prices are not. Putting too much stock in entering the market at a specific time of year can be unwise, as the timing of your move should be fundamentally based off the right timing for you. A good estate agent will know the local market well, and will be able to guide you how to market and dress your home to play up to the current season.
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