Home sellers often have certain beliefs or misconceptions about the real estate market and the selling process. (THANKS HGTV! :: insert eye roll::) Here are five things that home sellers think are true but might not always be accurate:
#1: Everything you do adds value
This is going to be a tough pill to swallow. But not everything you do to your home adds value.
Fresh paint – excellent! However, it doesn’t add value. New roof – it’s considered maintenance. Cut the grass – congrats! You’re supposed to!
Talk to your real estate agent about what actually adds value.
#2: You should price your house higher to leave “wiggle room”
LAWD! We hear this just about every time we meet with a seller. Homes priced correctly from the beginning tend to sell faster and get their asking price. Overpricing your home to leave “wiggle room” usually ends with the home seller doing multiple price drops and not getting the number they would have been happy with.
#3: Selling furnished increases the value
Many home sellers think leaving a house furnished means increasing the value. Unfortunately, this is not the case.
The next owner coming into the property likely has their own furniture, and now, as your real estate agent, I have to get your house emptied since you left all your stuff behind.
Appraisers do not consider furniture when giving your home its value – even if we tell them it’s being sold furnished. Furniture should be sold separately and have its own bill of sale.
We sell houses – not armoires.
#4: You don’t need to make repairs
Woof. So many home sellers think they don’t need to make any repairs before getting their home on the market. We are here to debunk this myth and tell you that about 99% of homeowners will have some repairs to make before listing.
Even selling your house “as-is” means preparing your home to sell.
Whether it’s getting your AC cleaned and serviced or repainting the entire home exterior, every seller has some repairs to tackle!
#5: Open houses are essential
While we can’t speak for every market – open houses do not sell homes in New Orleans. (We aren’t saying that it won’t EVER happen. It’s just scarce.)
The time for an open house is the first week your house hits the market or after a price reduction. Most home buyers also schedule private appointments with their agents to tour your home.
Home sellers – getting your house show ready and priced correctly in this ever-changing market is significant! Talk with your real estate professional ASAP!
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“My Friends Want to Buy My House”