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6 Home Selling Myths You Should Stop Believing

As a real estate investor, agent, or homeowner, you will need all the advice you can get to be successful at selling a home. However, not all advice is factual. There will always be some myths about real estate that never go away. The worst part of believing these myths is that they cause you to lose profit and your property to sit on the market for long.

In this article, we’ll discover some common false beliefs about home selling, the truth about them, and tips on how to sell your property the right way.

1. People aren’t selling their homes during the pandemic

Before and during the lockdowns, there was a high demand for housing due to stay-at-home orders. These were the times when the value of properties were rapidly increasing. As the end of the stay-at-home situation draws near, sellers are now looking to sell their homes again for work reassignment or a flexible way of living.

2. The real estate market will crash along with the economy

There is no evidence to back this claim as we can never know or predict how this pandemic affects us all. But one thing is for sure - the real estate market today is better than the one in 2008 due to the crisis. That was due to the popularity of subprime loans back then which isn’t widely available nowadays.

3. Remodeling the kitchen and bathroom increases property value

Yes, they do increase property value but your return on investment is not that high. Minor renovations fare better when it comes to increasing your house’s value. Examples are doing repairs, installing the latest energy-saving appliances, beautifying the backyard and front lawn, updating windows and wall insulations, and adding smart and security features.

4. The exterior isn’t important

The curbside view is the first thing home buyers look at before they decide to view your home’s interior. If they think that your exterior looks poorly managed, they will make a snap judgment that your interior is the same as well. That will cause perusing homebuyers to swipe left and make your property sit for long in the market.

5. Your home is worth more after a good first offer

Most homebuyers could be real estate investors or seasoned homeowners. They will also assume that you are as well. That’s why they always send a good offer (one close to your target price) from the get-go to shut out competition. As a rookie home seller, it might make you think there will be better offers to come. The truth is, your first offer is almost always your best offer.

6. Your home will sell itself

Now that would make things too easy now, wouldn’t it? We all wish it would. You still need to do a lot of work to make your home as appealing as possible. Aside from the redoing and minor renovations mentioned above, there’s still actual, video, and photo staging, choosing the best property representative, and listing your homes on multiple platforms.

Be a smart home seller by staying on top of the latest real estate trends. If you hear gossip about the future changes in your local housing market, do your research, follow logic, and make your educated guess to avoid losing opportunities for earning.

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