We’ve all heard and seen long lists of real estate tips that will supposedly help you sell your home quickly with low commissions and for top dollar, but, unfortunately, not all those internet tips hold up when you go to sell your home. We’re here to debunk six of the most common real estate myths we hear to help you actually sell your home quickly—and for top dollar!
Myth #1: I can overprice my house in a sellers (this) market
You might think in a sellers’ market—like the one we’re currently in in Loudoun County—you can charge a hefty premium on your home, however, the market is still sensitive to overpriced homes, so most likely, your home will sit. In today’s market, the home-buying process often starts with online searches, and by overpricing your home, you may miss out on legitimate offers from people who filter your home out of those searches based on price alone.
It’s best to price your home at or a little below market value to drive maximum demand (and multiple contracts!)
Myth #2: Zillow and Redfin said my home should be worth this much
Online home valuation tools can be relatively accurate but oftentimes they’re not. Companies like Zillow and Redfin have access to information like your home’s zip code, assessed value in the public record, square footage, and what comparable homes based on those factors have sold for, however, they don’t know if you’ve made any upgrades or renovations to your home, and they don’t take into consideration other factors like busy streets, privacy, and systems improvements.
If you’re giving serious consideration to selling your home, a local Realtor® can give you a more accurate feel on what price to list your home.
Myth #3: I can easily sell a home on my own
While the appeal of a lesser commission is understandable, selling your home on your own will take longer due to less marketing and exposure. You’ll also get less for your home than you would should you hire a professional. Plus, the paperwork, timeline management, and communication takes more time than you would think!
The Realtors® at 15 West Homes are seasoned professionals when it comes to selling in Northern Virginia, and they will not only help take a load of stress off your shoulders, but they’ll also help you sell your home for more!
Myth #4: I don’t need to get my home in tip top shape for sale/showings
Decluttering, depersonalizing, painting, and yard clean up are MUST DOs prior to listing your home. Selling your home can be an emotional time, and taking family photos off the walls and coffee table might help start the waterworks, but when you’re welcoming prospective buyers into your home, it’s important to remember, it’s for a business transaction. You want them to start imagining how they might utilize the space in their future home, so they get attached and submit an offer.
BONUS TIP: Home staging is a good idea also as data has shown a higher price sale when used.
Myth #5: Pictures aren’t that important when selling my home
As we mentioned earlier on, the internet is the first place buyers go to look for home, and buyers will disqualify homes from their search if the photos don’t do the property justice. High quality photos, floor plans, and video tours are critical to get your home seen and appreciated. High quality visuals allow potential buyers to immerse themselves in your home before ever stepping foot inside and can be the difference between a buyer setting up a showing or just moving onto the next house in their search.
Myth #6: I’ll hold out until I get the best offer
Data shows that the longer a home sits on the market, the lower the sales price will be. And as homes continue to fly off the market in Loudoun, a home sitting on the market for an extended period of time will probably raise some eyebrows. Make sure your home is priced and presented well to sell for top dollar quickly—and if priced and presented well enough, you might potentially see a very quick bidding war which could help drive your price even further up.
What other real estate tips have you heard over the years that you aren’t sure are true? Our Realtors® at 15 West Homes are happy to help debunk or verify the trends you’ve heard about to make your home-selling process go as smoothly as possible.