09/04/2024
5 common real estate misconceptions that I hear ALL THE TIME?π
βοΈA home passes or fails a home inspection. It's not a test, I promise you. Usually, any major repairs found at a home inspection can be worked out through negotiation.
βοΈNever accept the first offer. Who's to say that first offer isn't as good if not better than any offer you may get down the road? And who's to say you'll even receive more offers? Accepting a GOOD first offer means you don't have to continue showing and you can get to your goal of moving faster.
βοΈOpen houses sell homes. Most of the time open houses attract the nosey neighbors and "looky loos" who have nothing to do on a Sunday! It's also really just a great opportunity for your agent to attract potential customers. But the likelihood of selling your home due to an open house is extremely slim. According to The National Association of Realtors, only 2% of homes are sold from an open house.
βοΈAll renovations add value to my home. Not necessarily, certain renovations may be important to you, but not necessarily to a home buyer. A home buyer will look for renovations that will save them money, like a newer roof or A/C, but be careful not to over improve your home so much that you have to price it out of the market's value.
βοΈPricing your home high to leave room for negotiation. Yes, we do accommodate room for negotiation, but pricing your home properly is the #1 thing you can do to get your home sold. Home buyers may be intimidated by a high price thinking you may be non-negotiable.
The key π takeaway, whether buying or selling, remember to seek guidance from professionals π