Three Home Seller Myths You Need to Know
If you’ve even thought about selling your house, I guarantee everyone has given you their opinion on the subject. Because of this, a lot of myths have developed around how to price or market your home. As your DFW real estate expert, I’m here to debunk those myths so that when you’re ready to sell, you know the facts!
MYTH #1: Automated Home Evaluations Are Always Accurate
Have you ever been scrolling through Facebook and come across an ad that says “CLICK HERE to find out your home’s market value” or something along those lines? You barely even have to think about selling before you get targeted with one of those ads. However, these evaluations aren’t able to account for the unique features of your home and can result in unrealistic expectations. If you’ve renovated both your bathrooms and added a pool, this evaluation may cause you to believe your home value is less than what it actually is!
What type of evaluation could give you an accurate answer? One where a LOCAL real estate agent meets with you to conduct a personalized market analysis after asking you for more details about your home. Even better, schedule a consultation so that agent can see your home in person and give you the MOST accurate answer. Listing Consultations cost you zero dollars and you have no obligation to order the for-sale sign and start signing afterwards.
MYTH #2: If You Don’t Have an Open House, Your Home Won’t Sell
Most people think an open house is required when you put a home up for sale! According to a 2017 survey by the National Association of REALTORS, only 7 percent of buyers find the home they buy through an Open House. That means you’re missing out on 93% of the market if you’re only planning an open house as your marketing strategy.
This isn’t to say that your home shouldn’t have an open house when it’s for sale, but, it also isn’t the most effective marketing strategy! We recommend having your agent hold an open house the first week your home is on the market to drive as much traffic to your listing as possible. When you work with the Modern Nest team, we’ll make sure we use a comprehensive marketing strategy to get your home sold!
MYTH #3: If You Price Your House on the High End, You’ll Have Room to Negotiate
A lot of sellers think that if they price their house high, they’ll end up meeting in the middle at the price they actually want. If you use this strategy, you’ll actually be decreasing the demand (number of interested buyers) when you first list your home which will automatically have buyers thinking that the home is priced too high.
When your home hits the market, you want to make sure you are drawing from the biggest pool of buyers to get as much exposure as possible. Pricing it on the high end may eliminate buyers who can afford the price you actually want because their budget might not go up to the price you’re starting with. Instead, price it at or slightly below the market value to increase demand, competition and ultimately more money in your pocket.
We hope this helps clear things up if you’re thinking about listing your home in the future. Check out our seller resources for even more information!