5 common myths about selling your house...
Overpricing will give more room for negotiations and get a better price. Overpricing your home often leads to the home sitting and not receiving much interest. If a home is priced competitively from the beginning, the chances of attracting optimal traffic from the beginning greatly increases.
All Agents Are The Same, Charge Too Much & Will Get You The Same Results. Although the general process of buying or selling and the ensuing chain of events are similar, no two agents are the same, nor is their approach to real estate. Successful real estate agents are committed to excellence, devote endless amounts of time and energy into working with buyers and sellers and are highly adept problem solvers.
The First Buyer to Make an Offer Will Always Lowball You. Low offers can be insulting to sellers and are generally not a good way to open up a transaction. If you really want the home and it is priced reasonably, offer close-to or at list price. In some markets, you may even want to offer over list price to secure the home of your dreams. This is where a great agent will help you come up with a winning offer-strategy.
Home improvements will pay for themselves. Don’t expect to see 100% return on your remodeling investment in your home. The return rate averages just 64% of your initial outlay. That said, some upgrades can add significant value to the price of your home. The most recent analysis by the National Association of Realtors cited door replacements such as upgraded garage doors, mid-range wood window replacement and steel outer doors as the only items returning 100% of their cost. Minor kitchen remodels offered the highest rate of return at 79.3% of remodeling costs.
A home doesn’t need to be prepped for sale. The real estate myth that homes don’t need to be prepared for a sale can cost a seller thousands of dollars. Properly preparing a home for sale can be the difference between it selling in a relatively quick amount of time or it sitting on the market and developing a negative stigma. It’s very important that you don’t list your home before it’s ready.
If you are thinking of selling and want to know more about the process, get in touch!
David Silletta *PREC | Agustin Torres *PREC
Island Homes Group
David: 250.888.6924 | Agustin: 250.886.8520