Real estate is one of those industries where beliefs form over the years but do not actually adapt as the market changes. Referring to old information may be costly. Avoid falling for these common MA home selling myths.
Location is Everything
Every community has that fabulous neighborhood that everyone wants to live in. People pay top dollar and believe that it must be a sound investment. However, the those areas are not automatically good investments since values may be near their max. Therefore, there could be less opportunity for increase. Often times, the up and coming neighborhoods produce better returns.
Selling Without an Agent Will Always Improve Your Net
Selling without a real estate agent will eliminate the cost of real estate commissions, but it will not automatically lead to a better profit. Real estate brokers are tuned in to the local market and understand the best way to position your listing. Without that experience, you may select the wrong price, waste critical marketing time, or reach fewer buyers out there. These will cause a lower sale price, perhaps less than what you saved on fees. There are also other pricy mis-steps that you may make along the way when not assisted by an experienced real estate agent.
You Receive Back the Full Value of Money Spent on Home Repairs
This is a very common myth. We are sorry to inform you that the cost of home improvements is not usually recaptured when a house is sold. Even though renovations do improve the value of your home, the percentage which you often receive depends on the type and level of upgrade. Kitchens and bathrooms, for instance, tend to receive better returns than other rooms.
It Is Better to Provide a Credit Than Make Repairs Ahead of Time
Whether you have deteriorated flooring or have painting that needs to be completed, offering a buyer credit is not always the better approach. Some damages affect how well your home shows. Even with the credit, potential buyers typically decrement their offer price when a property needs work.
Pricing Is Irrelevant In a Sellers Market
Everyone aims to get maximum value. You hear that listings are selling for higher than the listed price, so you list your property on the high end expecting an even greater sale price. This approach may be a big mistake. Other listings may have gone for higher than asking price given their starting price was appealing. You cannot expect that you will receive above the advertised price regardless of where you start.
Staying Away from Common MA Home Selling Myths
Real estate is probably the biggest financial investments that you can make. When it comes to purchasing or selling properties, it is important that you are up-to-date and make informed decisions. Use accurate facts an not based on common MA home selling myths. Ask knowledgeable local professionals to guide you through the steps. This will help you sell faster, for more value, and with decreased liability.