When it comes to house buying and selling, it’s easy to succumb to information overload and you might find yourself struggling to separate facts from myths.
While there are plenty of myths and misconceptions surrounding the buying and selling processes, an estate agent can help you along the way.
But before you put your house on the market, here are six common myths about house selling that you can safely ignore:
Myth #1: You should never accept the first offer
This is a common misconception, which could result in missing out on a great buyer. While acting on panic is never a good thing, outright rejecting the first offer due to superstition could be a huge mistake in some circumstances.
Many sellers may jolt with immediate offers and worry that they have priced their homes too low. But the reality might be that serious buyers are quick to notice new listings that fit their criteria, and therefore the ‘freshness’ of your home’s advert might be working in its favour.
There’s no need to decline an offer without considering it first, so make sure to take your time and speak with your agent first. Afterall, the first offer could be the right one!
Myth #2: You need a modern kitchen and bathroom to sell for a high price
Updated kitchens and bathrooms are great selling points, but they aren’t always a must-have. If your kitchen and bathroom are already in good shape, there’s no telling whether a renovation will attract more buyers than the original fittings.
Sometimes it’s better to save your money and trust that someone will fall in love with your home as it is. However, you could still invest some of that unspent money into sprucing up the overall décor and making a few necessary repairs around the house.
Make sure to do your research to find out how to get your home looking at its best for buyers – without having to splash out on a top-to-bottom makeover.
Myth #3: Estate agents are a waste of money
You may have been told that you can save money by selling alone, but this is a falsehood that could end up costing you money, rather than saving it. Your home is your most valuable asset, and therefore it needs to be placed into the hands of a trustworthy professional who has experience in the local market.
An estate agent will have a thorough understanding of current market trends and buyer activity and therefore will know how to achieve the best possible outcome for your sale. Attempting to navigate the housing market alone can leave you susceptible to fraud, under-pricing, and uninformed decisions that could be costly.
Related: The advantages of using an estate agent
Myth #4: Setting a higher asking price guarantees a better deal
A common misconception is that a higher asking price will lead to a better deal. While it’s natural to want to maximise your profit, an unrealistically high asking price can turn away potential buyers.
It’s important to receive an expert valuation, consult with a knowledgeable agent who knows the local market well, and se ta competitive and fair asking price that reflects the current market conditions.
Related: What to ask your estate agent during a valuation
Myth #5: Staging doesn’t make a difference
The impact of home staging is often underestimated, and some sellers will skip this step and get right to selling their home as-is. However, a well-staged home makes a great first-impression, it helps potential buyers visualise themselves living in the space, and it could lead to you landing a sale faster.
Investing some time and money into effective staging is likely to be worthwhile, especially if you’re eager to secure a buyer quickly.
Related: 15 home staging tips that really work
Myth #6: The best time to sell is always spring
While some people consider spring a prime time for the housing market, this isn’t always the case.
The market is dynamic and sometimes unpredictable, as factors such as economic conditions, interest rates and local market trends play a significant role. It’s essential to speak with your agent to decide when to put your home on the market.
Thinking about selling your home? Contact our expert team today
