11 Lies Realtors Tell About Selling Fast You Shouldn’t Fall For
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Selling a home is like getting on a carnival ride where it’s exhilarating, it’s nerve wracking, there are all sorts of twists and turns you don’t expect. Although you can rely on your guide, a skilled real estate agent, some agents will bend the truth to get you on board faster than you can say ‘open house.’ Sometimes these little fibs are disguised as solid advice, but they may cause you to spin your wheels rather than nail the deal.
If you’re planning on selling your home, you need to do some weeding. Not every pitch a realtor makes is salting its worth. So, below, we unpack some of the tall tales you might be told and how you can spot them before you’re swept off your feet.
Listing Your House at a High Price Will Get It Sold Faster
The temptation is to start with a high asking price, as you want to leave yourself room to negotiate, but that method often fails. Homes that are overpriced stay on the market longer and buyers will surmise there is something wrong with the property. Zillow says homes that are priced competitively from the get go are more likely to sell before their listing period is over.
The Key to Selling Your Home Is Open Houses
Open houses get interest but they are not the golden ticket that many agents make them out to be. The truth is, though, that according to the National Association of Realtors, only 4 percent of buyers purchase a home they found through an open house. Scheduled viewings are most preferred by serious buyers because they get the time they need and avoid the crowds.
The Market Is so Hot, Your House Will Sell Itself
A hot market makes it easy to believe you’re guaranteed offers on your home, but no home sells itself. Even in a high demand area, a poorly staged property or bad listing photos can scare potentials looking to buy a home. They say presentation is everything—on a first date you put your best outfit on. You can make all the difference by staging or fixing minor repairs.
Buyers Will Take Care of Any Repairs
Realtors could point out repairs aren’t really necessary, since buyers are willing to take on fixer uppers. That’s sometimes true, but most buyers prefer move in ready homes. Minor problems such as a leaking faucet or peeling paint can alert buyers to something else that is wrong. A little elbow grease goes a long way to building buyer confidence.
The Highest Offer Is Always the Best Offer
Of course, the top dollar offer sounds like music to your ears, but it’s not always the best. Financing contingencies, inspection results, and closing timelines can all have bearing on whether a sale succeeds or fails. It may be the better deal, a slightly lower cash offer with no strings attached. Just keep your eyes peeled for more than dollar signs.
You Need to Wait for the “Perfect” Buyer
Waiting for someone who will “absolutely love” your home could mean waiting for ever. Real estate is all about numbers and the more people that can see your listing, the better your odds. Don’t look for a mythical ‘perfect’ buyer, instead, make your home appealing to a wide range of potential people looking to buy a home.
You Don’t Need Professional Photography
Don’t believe some agents when they say smartphone photos are good enough. According to studies, homes with professional photography sell 32 percent faster and for more money. Most searches start online and high quality images grab buyers’ attention. That blurry, poorly lit photo could be a click or a scroll.
You Should Take the First Offer That Comes Along
The first offer might be good, but it doesn’t have to be the best you can do. Agents may want a quick sale to skew their own stats or just move on to the next listing. Review offers carefully, not just the price, look at terms and conditions.
Bidding War Is Guaranteed When You Price Low
It sounds clever to set a low price to spark a bidding frenzy, but it’s risky. If the strategy doesn’t work, you may be left with an undervalued property. So the sweet spot is to price your home at its actual market value—neither too high nor too low. An agent who has experience will help you to find that balance.
Seasons Don’t Matter When It Comes to Selling
A common refrain is that “spring is the best time to sell,” but that doesn’t mean timing is irrelevant. Every market has its own rhythms, and you can increase your odds of success by listing during peak seasons. Set your timeline with a view on local trends, and take seasonal factors (e.g., school calendars and holiday distractions) into account.
Staging Isn’t Worth the Money
While some agents might argue that staging is unnecessary and they can save you money upfront, this can come back to bite you. According to the National Association of Realtors, staged homes sell up to 30 times faster than non staged homes. Staging thoughtfully highlights your home’s best features so buyers can imagine themselves living there. It’s an investment that pays itself off.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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