The Top 5 Selling Tips You’ll Hear, and Hopefully Ignore
If you’re going to take advice about upcoming market trends, only take it with a grain of salt, and don’t take too much at face value.
1. ‘List your home in the spring!’
While this seems to be the right advice, in reality it really is a shot in the dark. This is true for colder climates where it takes a couple of months into the new year for all the snow to melt. However for the warmer climates (where real estate is being flipped like flapjacks) the best time to list your home is in early January. According to Melisa Aponte, a realtor with the Keyes Group in Miami, FL, this is because people are coming out of the holidays and are ready to start looking. So in a nutshell, this piece of advice about the spring is very dependent on the region…and not to mention that if you list your home on the off-season, all it means is less competition, and you could potentially find your perfect buyer pretty quickly.
2. Pay less commission and save money!
Not only is this not true, it’s pretty messed up. The real estate agents work very hard to sell your home and they deserve to be paid for that hard work. A lot of what they do is more under the radar so you’re not seeing as much of the work as what is actually getting done. Many realtors are up very late at night working on contracts and setting up open houses and so much more.
Another plus to offering the appropriate commission is because your realtor can offer bonus commission to the buyer’s realtor. If a realtor is offered more incentive, you will have more realtors bringing you qualified buyers.
You can even spark up a bidding war! What fun!!!
3. Your buyer is at your open house, plain and simple.
There’s nothing plain or simple about it. While there could potentially be a buyer that is seriously interested at the open house, it’s more likely that there is not. Most people that are serious about buying a home want to tour it privately with their realtor so they can get the full effect of what the home would be like.
Waiting for the open house to start seriously looking for a buyer is just a waste of time. Precious time that could be used to finalize the touch-ups to the house, or search for a realtor with fantastic potential buyers. On the other hand, it is possible to find that perfect buyer at your open house. It’s just not as likely as people let on.
4. If you price your home higher, you’ll make way more money!
While this seems like some obvious common sense, it really is a trap. If you try and price your home too high, it turns everybody away. Buyers are sensitive to high prices so they will skirt right around your listing. Then you’re caught in a rut where your house has been on the market for too long and other people start to think something is wrong with it. Then you receive a total low-ball offer that you’re forced to accept because at this point you just want the whole experience to be over with so you can get on with your lives. Not a fun place to be stuck at.
Instead, price it smartly. Use a home value calculator (they’re all over the web) and then discuss a price with your agent based on the calculated value. Find that ‘Goldilocks’ price and let the offers start flooding in!
5. These are the market trends for next year…
This one is pretty simple and straightforward. Don’t believe everything you hear about market predictions. Agents make these predictions from educated guesses about the market, but no one can be sure. But at least those opinions are coming from a reputable source, and not from Uncle Todd after a night of drinking beers with your dad and eating mom’s lasagna.
My point is, if you’re going to take advice about upcoming market trends, only take it with a grain of salt, and don’t take too much at face value.