Posts Tagged “Myths of real estate”
Buying or selling the home to achieve your retirement goals? Don’t fall prey to myths and preconceived notions that plague the real estate market. Doing so at this time can slow down your progress and make the process of selling a home and buying another more of a chore than it needs to be.
Here are some common misconceptions
1. You’ll save money if you sell yourself without a real estate agent.
Selling real estate involves skills and attention to detail when listing the home, negotiating the price, and guiding the sale through the inspection and loan application phases to completion. Your Realtor® does this for a living, which reduces the likelihood of time delays due to missteps.
2. You don’t need a buyer’s agent when selecting a home
While helpful to you when showing you a home, the agent who lists a home is working for the sellers who are his primary concern. A buyer’s agent can help you negotiate the best deal on the home of your choice and even show you listings that do not even appear online.
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3. You should list your home for more than what you hope to get
While bargaining is a part of the real estate process, you can out-price yourself for the market by listing too high at first. You can lower the price if your home doesn’t sell, but that keeps you on the market longer which can turn off buyers. Buyers love fresh listings! Also, if you set your own price right, you may get multiple offers from buyers who realize your home is a great deal.
4. You can plan on the market going up.
Prices in Canada have been going up, but analysts remind buyers and sellers that “what comes up must come down.” Housing prices are cyclical. The price you list for or pay depends on the market at the time.
5. You will get back what you spend on renovations.
If you have invested money on upgrades, you may sell your house more quickly and even get some of your money back, but it is unlikely that you will get more than 60 to 70% back on popular renovations such as doing major kitchen or bathroom.
6. You should renovate and update your kitchen or bathroom before you sell
It’s true that these rooms often sell a home, but buyers may not share your taste. You may be better off freshening up these spaces with a good paint in due faucets rather than spending thousands.
7. You need to have open houses on your property to get it sold.
Buyers love open houses because they are permissible evidence that the agent is “doing something” to move your property. In reality, few people buy homes at open houses. Your agent may be working behind the scenes to get your home sold through a broker’s open for other real estate agents and through online marketing.
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When you are buying or selling a home, don’t waste time. Give me a call for experience, market knowledge, correct pricing, and a sincere interest in helping you fulfill your real estate goals. If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES is a Senior’s Real Estate Specialist and a REALTOR® with Sutton Group-Professional Realty. Licensed since 1991, much of Roy’s practice is helping retirees with their later in life moves. Roy can be reached at 902-497-3031, by email.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
