Real Estate Myths When Selling Your Windsor Home

Posted in General Blog | 14/03/2013

Windsor Home

Windsor Home

There are a lot of myths in the real estate world, so if you are considering selling your Windsor home this year, you may want to take a few minutes to read this article.  Some of these may very well surprise you.

Myth 1:

You must list at the highest price in order to negotiate.

It’s actually quite simple: If you set the price of your home too high, you won’t get buyers.  This is one of the top rules of real estate:  To sell your house quickly, price it right.  By listing your house too high, you are not only discouraging buyers but they may simply stay away because it’s out of their price range.

The best way to sell a home quickly, is to price it correctly.

Myth 2:

A warranty means nothing.

Buyers want to make sure they are getting a good home that will be free of major repairs.  However, for example, let’s say that an inspector remarks that a water heater is old and cannot be guaranteed.  A seller might balk at buying a new one simply because they have had zero problems with it.  Yet, a smart seller would consider buying a home warranty just in case a new water heater is needed within the next year.  If you back up your home with a warranty, it does create a favourable buzz.  It can certainly help during negotiations when a buyer and seller can’t agree on repairs that may or may not be needed.

Myth 3:

A house must be perfect in order to sell.

While it certainly doesn’t hurt to have a home in the best possible condition, it certainly isn’t mandatory.  Don’t go over the top when repairing and updating your home because you won’t always get out of it what you put into it.  The best advice here is to contact your real estate agent and walk through your house together.  Your agent will tell you where you can get the most bang for your buck, and what’s not so important.

Myth 4:

If the inside of your house is great, then curb appeal doesn’t matter.

images-17False, false, false!  Chances are, a buyer won’t even look inside your home if the curb appeal is lacking.  The old saying is true:  “You only have one opportunity to make that valuable first impression.”  Consider this, buyers and agents often drive by homes before deciding whether a home is worth going inside.  If the exterior of your home has been neglected, then they assume the inside is as well.  At the very least, lawns should be mowed, trees and shrubs trimmed and weeds removed.

Myth 5:

You save money selling your house on our own.

Again, this is simply not true.  In fact, for those homeowners that sell FSBO (For Sale By Owner), they often end up LOSING money.  Homes are usually not priced correctly and in the end, they will net less than what a real estate agent could get for them.  The vast majority end up hiring a real estate agent after a few weeks, while over 70 percent said they would never try to sell on their own again.

Myth 6:

Take your time responding to an offer as this give you the upper hand in negotiations.

A seller should respond immediately to a buyer’s offer.  Moods change, or your buyer may still be looking at other homes while you contemplate their offer and actually find another property they like better.  Don’t make a buyer wait, as you want to capitalize on that moment.  If you stall, buyers may figure it’s simply not worth it and walk away.

Myth 7:

It helps to have the sellers there when the house is shown to buyers.

Again, this is a big NO.  Sellers often believe that by being present during a showing, the buyers will get a more personal tour.  And who knows the house better than the sellers?  This tactic simply doesn’t work.  Buyers want to walk around, look into closets, open cabinet drawers and make honest comments, but they won’t do it if they feel intimidated or fear they will hurt the owner’s feelings.  Let’s say you have a dining room that is covered in expensive wallpaper that you painstakingly installed.  How would you feel if the buyer walked in and said, “The first thing that needs to go is the wallpaper!”  Chances are, you might respond with a whole dialogue of how expensive and valuable the wallpaper is.  The point is, no one wins if a buyer is there.  Let the agent do their work.

 

 

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