Home selling is most likely something you do only a few times in your life. In between listing and buying, you tend to forget the process. Sometimes, ideas about home selling take on a life of their own because your neighbor, brother-in-law, or that Instagram video said something like, “You have to pay for Termite when you sell!”
Selling your home costs time, energy, and money. The good news is that your Real Estate Agent (me) will guide you through the entire process.
6 Home Selling Myths:
One – Remodeling has a Return On Investment (ROI)
Many homeowners believe that if they remodel a bathroom and spend $50,000 they will make that money back when they go to sell. Not all remodels have a one-to-one relationship with increased value.
Two – Living Trusts Complicate Deals
Many homeowners hold title to their property in a living trust, for example: The Garcia Family Trust. This doesn’t mean selling is more complicated for you when you choose a team like KALEO! We have experience selling homes that are held in living trusts. We have done, and continue to do, probates and properties where there is a successor trustee because the original trustee has passed away.
Three – You have to do Repairs
Some cities require pre-sale inspections, but in general, repairs are not required by law. Carbon monoxide devices, smoke alarms, and water heater bracing are required. Repairs are a point of negotiation. Lenders may have requirements as well.
Four – List High to Get More Money
Selling a house is not the same as selling a car. You aren’t asking for “Or Best Offer” (OBO). Pricing at the market value or right below market value gets the most interest, more offers, and puts you in a position of strength to counter for the “highest and best offer”.
Five – All Real Estate Agents Do the Same Thing
Not all real estate agents are the same. At KALEO, we have a high level of communication and 5-star experience as our standard. We list homes with professional photos, drone videos, 3D virtual tours, and a comprehensive marketing package. We can host open houses, broker’s open houses, or private showings depending on your needs.
Six – You should never accept the 1st Offer
The first offer could be your only offer and your best! Some properties only get 1 offer on the home because it is very unique. If you want to hold out for more offers, you always can. The saying: “A bird in the hand is worth two in the bush” has some truth in it. You can wait for something better, but something better might not come along.
At KALEO we have known sellers that have gotten a fantastic first offer, accepted it, and closed quickly. We also know sellers who waited and nothing better came along.
When it comes to myths and misconceptions, part of our role as your real estate professional is to educate you about the process.
If you (or someone close to you) are considering selling, go ahead and send this blog to them so they can learn something too!
