Busting 5 Home Selling Myths

Busting 5 Home Selling Myths

By Katie Wainman | March 11, 2020

 

For years, there have been myths in the real estate industry that seem to be sticking around until the end of time. Do not be fooled by some of these common myths when selling your home.

1.You can solely rely on online home value estimates to price your home

Busted: Online home value estimates, such as the one provided by Crye-Leike (https://cl.findbuyers.com/), can be a great tool to get an idea of how to price your home. However, it is important to discuss the selling price with your Realtor. Your Realtor should be able to provide you with a competitive market analysis and be able to estimate how any upgrades to your home will affect the price.

2. If you get an offer too quickly, your asking price is too low

Busted: When a buyer puts in an offer quicker than expected, sometimes sellers start to question if their asking price is too low. Just because someone has jumped at the opportunity to buy your home, does not mean that your home is actually worth more money. In some situations, there has been a buyer diligently searching in your area for months without finding a home that they actually liked until you put yours on the market.

3. The outside of your home is not as important as the inside

Busted: The exterior of your home, otherwise known as your “curb appeal”, is just as important as the inside! If potential buyers were to drive buy and the grass is overgrown, the siding is falling off and there is junk in the yard, they might not even consider going inside. The outside of your home should be well kept to attract buyers inside.

4. Major renovations will have a better return on investment

Busted: Major renovations such as kitchen and bathroom overhauls are expensive and do not increase the value of the home enough to see a large return on investment. Instead, it is best to make smaller changes. You could replace cabinet handles, the showerhead, the mirrors or the paint colors. Inexpensive, smaller projects can still make an impact on the home’s appearance without you having to do a complete renovation.

5. You should wait until spring or summer to sell

Busted: Although statistically more homes tend to sell in the warmer months, people still buy houses year-round. Any season is a good season to sell, as long as you keep up with changing marketing tactics throughout the year. For example, if you are ready to sell in the winter, make sure you are keeping up with that necessary winter “curb appeal” by clearing the snow. If you know in the summer that you are going to sell in the winter, go ahead and get photos of the home. Potential buyers will then know what it will look like without the winter affects.

 

Looking for more advice during the buying/selling process? Visit www.crye-leike.com/blogs for more real estate tips and tricks!

ABOUT CRYE-LEIKE: Crye-Leike Real Estate Services (www.crye-leike.com), a full service real estate company for over 40 years, is ranked as the third largest independently owned real estate firm in the nation and the largest serving Tennessee, Arkansas, Mississippi and the Mid-South. Crye-Leike has more than 3,200 sales associates, over 800 employees and 140+ company-owned and franchise offices spread across nine states. It generated $6.5 billion in sales volume and 29,925 closed transaction sides corporate wide in 2019 – its biggest year ever – and is on track to achieve the company’s goal of $6.8 billion in sales volume this year.