Myths and Facts About Selling Your First Home

Everyone will give you their own piece of advice when it comes to successfully selling a home. But not all advice is necessarily sound advice.

There are plenty of myths floating around out there when it comes to selling real estate. So what should you believe, and what should you take with a grain of salt?

The following are some home-selling myths you can safely put to rest.

Myth #1: You Can Sell it Yourself With Ease

It’s no secret that selling a home is an expensive endeavor. Among all the fees you have to pay, your real estate agent’s commission is a big one. Considering the cost, many newbie sellers may try to circumvent this bill by attempting to sell their home on their own.

The problem with taking the DIY route is that there are plenty of complexities involved in selling real estate that the average seller might not be aware of or experienced with. Real estate deals are in-depth transactions that involve a lot of legalities that need to be dealt with prudently. Without sound knowledge of such details, you could find yourself in a bit of trouble and even potentially face a lawsuit by the buyer if you don’t tackle the contract appropriately.

At the very least, you could find yourself leaving money on the table because your marketing or negotiating skills weren’t strong enough. All that money you think you’ll save can actually be lost as a result of your inexperience. As such, this job is best left to the pros.

Myth #2: Focus on the Interior

Of course, the condition and aesthetics of the inside of your home are crucial when it comes to attracting buyers. But while you may be putting plenty of effort into improving the looks of your interior, your exterior needs just as much attention.

Curb appeal plays a huge role in attracting buyers. After all, it’s the outside of your home that buyers will see first before they step foot inside your house. If your home’s exterior is lacking in curb appeal, it can actually drive buyers away rather than invite them to take a closer look inside.

Just as much attention that you give to your interior should be given to your exterior in order to maximize the number of buyers that you attract.

Myth #3: Buyers Can Overlook Unsightly Colors

Your home might have an excellent layout and come with sturdy construction and materials, but if your decor is less than desirable, you may have a tough time selling. Most buyers are unable to see past what you’ve put on display for them. That’s why the home staging industry exists.

If your walls are painted in a weird color, consider giving them a fresh coat of paint in a neutral hue. You’ll be more likely to attract more buyers with neutral colors than you would with eclectic shades. Besides, a paint job is the cheapest way to change the look of your home and give it an update, which can, in turn, increase its value.

Myth #4: Your Home Looks Fine As it is

You could have impeccable taste when it comes to interior decor and design. But what might be attractive to you might not necessarily be attractive to the pool of buyers looking in your area. The idea behind prepping and staging your home is to gain an understanding of what buyers in your area are looking for and prepping your home accordingly.

Professional home stagers study buyers in specific areas and use that information to stage homes appropriately. Taking these factors into consideration can help you boost the odds of attracting more buyers and therefore selling faster and for more money.

Myth #5: Updates Need to Be Significant

While you don’t want to leave your home as is, you also don’t need to go overboard with the improvements if they’re not warranted. Sure, kitchens and bathrooms are traditionally the more important spaces in a home and may warrant some updating to attract more buyers, but you don’t necessarily require a complete gut job to do the trick.

Sometimes all that may be needed in cases like these is refacing the cabinets, changing the hardware, and updating the lighting. If you’ve got a few more bucks in the pot, changing the countertops or replacing the appliances can help a great deal. But major renovations are usually not necessary in order to attract buyers and find the right one who will offer you a sweet deal.

Myth #6: You Should Wait Until Spring to Sell

There is a common belief that the spring season is the best time to sell, and other seasons may be more difficult to find a buyer and sell for a reasonable price. While the springtime certainly is a great time to sell, there’s nothing wrong with listing any other time of the year.

As long as you’ve got a sound marketing strategy and are working with a seasoned real estate agent, there’s no reason why you can’t be just as successful selling in the winter, summer, or fall as you would in the spring.

The Bottom Line

Don’t believe everything you hear, especially when it comes to selling your first home. The only advice you should take is from your real estate agent. With experience in the world of selling properties, your agent can provide you with the right advice to help you become another success story. Whether you’re selling for the first time or have done this before, make sure you’re backed by a seasoned real estate agent to boost your odds of success.