Home Buying Myths in 2020
Thanks to our President Trump, “Fake news” has become a sad but ubiquitous term of the last several years. Unfortunately, this term has even found its way into the real estate profession. Home buyers and homeowners are often bombarded with buying and selling advice that promises to get a home bought or sold quickly and for the best price …but more often than not, these “tips” are nothing more than misleading—and can throw you off-track. As we start a the year, I want to set the record straight. Here’s my list of the top four selling myths, debunked.
Myth #1: It’s Just like Reality TV
If HGTV is your guilty pleasure, you’ve probably watched hundreds of buyers and sellers navigate the real estate process on camera. Although the shows do get some things right, they’re often scripted and don’t provide an accurate idea of what it takes to sell your property. One of the biggest misconceptions created by these programs is the length of the selling process. Don’t fall for the TV magic—it actually takes a lot more than a showing and a phone call to close a deal. In reality, homes can sit on the market for 60 to 100 days or more here in Emerald Isle , and the closing process might last for up to 45 days. Instead of expecting instant gratification, it’s best to talk with your agent to create a realistic timeline before listing.
Myth #2: Selling Without an Agent is Cheaper
Many sellers are tempted to list their home as “for sale by owner” because they want to avoid a commission fee. However, the risks involved definitely outweigh the savings. Real estate agents have to wear a lot of hats—they act as everything from property value analyzers to professional marketers to legal negotiators, all of which require years of experience. When you opt to sell on your own, all of that responsibility falls onto your shoulders, and it’s a lot to handle at once.Although it might seem like you’re saving money by doing it all yourself, an agent can protect you from scams, guide you through paperwork, and even sell your home for up to 75% more. And, in the end, isn't your time worth something?
Myth #3: You Can Only Sell in Spring or Summer
It is no secret that spring and summer are prime seasons for real estate, but that doesn’t mean you should only list during those months. In fact, there are some hidden benefits to selling during the fall and winter that you might not have considered. Many people buying in the second half of the year are often more motivated to make a deal, whether they’re relocating or adapting to a change in their personal life. That means they’ll likely have their paperwork and finances in order well beforehand, which speeds up the closing process. You’ll also deal with less competition, which will make your home stand out more and give you extra negotiating power.
Myth #4: You Can Price Your Home by Yourself
There are countless mistakes to avoid when it comes to pricing your property, especially if you’re a first-time seller. Many homeowners believe they know their home best and can set their own price, but this isn’t necessarily the case. Oftentimes, sellers put more value into their home than it’s actually worth due to personal feelings—after all, it’s hard to see your own home without an unbiased eye! The right agent will know the ins and outs of the local market and won’t be so biased, which makes them qualified to give you a more accurate estimate.
When it is time for you to buy or sell real estate, go to my website, www.EIHomesforSale.com and request my free guide, "Living in Emerald Isle," or text your email address to: 919-308-2292.
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