Busting 8 Real Estate Myths
Article by Virginia Kettler-Blackburn
There are a lot of misconceptions about buying and selling real estate. That’s why I want to provide you with the best timeless advice I can give you. These myths have been gathered through my 20+ years as a REALTOR, and I believe will be corroborated by most agents.
Myth 1: You must call the REALTOR shown on the yard sign to see that property.
Actually, most properties on the market in B/CS are listed in our multiple listing service (MLS). This means any agent who belongs to the MLS – most do — can show and sell any property. Most buyers want their REALTOR to represent them, putting their interests first. This means working with a buyer’s agent, rather than the seller’s agent.
Myth 2: Getting an offer on your home shortly after putting it on the market means you underpriced your property. You should hold out for better offers.
In reality, usually the first offer is the best offer. Getting an offer quickly means your home is priced right and the buyer has looked at numerous homes before yours.
Myth 3: Selling your home without a REALTOR will save you money.
Actually, the majority of ‘For Sale By Owner’ properties end up being listed with a REALTOR when they do not sell. Statistics prove that properties listed with REALTORS command higher prices in most instances netting the seller more overall. In addition, your REALTOR will provide you with valuable insights and information throughout the sale process.
Myth 4: The REALTOR you list your home with should sell it.
No, your agent’s job is to market your home to both potential buyers and other REALTORS. She or he may end up selling it, but this is not usually the case. Hire a REALTOR who employs a good marketing strategy and proven track record to sell your home
Myth 5: Instead of doing maintenance and updates such as carpet, paint and repairs offer a monetary allowance to buyers to make the changes themselves.
Actually, this is a poor and ineffective way to get the most for your home. Buyers have a difficult time seeing past what is already in the home and will reduce their offers substantially or not make an offer at all. Do the repairs and maintenance up front. Your home will sell faster and for more.
Myth 6: Stage your home with personal pictures and lots of mementos to make it homey.
In reality, less is more. Personal items, family pictures or celebrity pictures are a major distraction to buyers. A successful showing is one where the buyers can see themselves living in your home.
Myth 7: Staying home during showings to tell people about your home will help it sell faster.
Wrong. You should not be home during showings. Buyers want to check things out, open cabinets, look in closets and discuss the house. Your presence will put a damper on the showing, and could cause you to lose a sale. Let the REALTOR take care of the showings.
Myth 8: Open houses sell homes.
Actually, few homes are sold due to holding an open house. This happens on HGTV but not typically in the real world. The best way to sell your home is to have it listed with your REALTOR who will follow a carefully designed marketing strategy. Internet marketing should be the cornerstone of your agent’s plan, as this is how most buyers start their search.
Now you have the inside scoop! If you’re thinking of buying or selling in the coming months, this is the perfect time of the year to begin that process. Our real estate market is strong in the Brazos Valley and in Texas. Investing in real estate is still one of the best financial decisions you can make for you and your family’s future.
Virginia Kettler-Blackburn is a REALTOR and Broker/Owner of Sherlock Realtors, class of ’77 BBA & ’99 MS, Texas A&M University, and 2016 REALTOR of the Year, BCS Reg. Assn. of REALTORS. Contact her at 979-268-1791 or virginia@sherlockrealtors.com. She welcomes your questions!
