Thinking about selling at a super high list price? Or perhaps selling on your own just because the market is hot? How about thinking if you should pass on that first offer? These are the things that you may have in mind that have been influenced by myths and hearsays around the real estate market in Northern Virginia.
In my long real estate career, I've heard a lot of these and sometimes it would cost a buyer or a seller the best deals of their lifetime. So let's' take jump right into my top 5 home selling myths that you should know.
1. Spring is the best and the only time to sell
COVID taught us a lot of new things with how you should take care of yourself, and same goes with Real Estate. Sure, that might have been the case back in the 80s and 90s, but real estate has evolved to be an all year round business for all of us. Don't fall for the illusion of timeframe limitations. Real estate is here to stay for all seasons.
2. Sell it at a super high list price
You might think that it'll make sense to list your property at a high price to skyrocket your profit. However, this just might scare the buyers off. All that time and effort put into the listing just to not attract buyers into getting that sky high deal you've always been dreaming of might not just happen. What you should do is to list it at the market value where you will attract the right buyer and leverage your home sale.
3. ALWAYS reject the first offer
First off -- please don't do this. Sometimes you might not even think the first offer and reject it right off, or even get offended by it, assuming that you're going to get better offers. We may sometimes overestimate or undervalue the offers that we are receiving. In this case, it's best to work with your realtor and negotiate with them.
4. Thinking about receiving 100% of the rental renovation investment
Let me give you the bitter pill -- you're not going to get 100% of the renovation investments right away, especially if you've used it to renovate bedrooms, bathrooms, and the similar stuff. Depending on what market value can hold for the home, you will get some percentage back in the home market slowly but surely. In addition, it's an investment, and great things take time. So just hold on to it and you'll eventually get there.
5. Selling the property on your own because the market is just too hot
It's true that the market is very strong, but in order to make the best deal out of it, you'll need to team up with somebody that understands the pulse of the market and knows how to actually market your home. The real estate business is not just about buying and selling -- lots of effort go into it and it has many aspects that a typical home buyer or seller might overlook. Not to mention the ton of paperwork that goes into property selling and the people that you need to properly invest in your home to sell it properly. It's all about putting yourself at the right position and at the right time to maximize your bottomline -- and that's what a well-experienced realtor like me is so good at.
Want to learn more how you can sell your home for the maximum profit? Let's team up -- 703-625-4949 or email at email@example.com. Let's make the stars align in your favor today!