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Don't Fall for these Common Myths About Selling A Home

Wednesday, February 27, 2019   /   by Christian Robinson

Don't Fall for these Common Myths About Selling A Home

Selling a home is a full-time job. These are some of the objections and concerns real estate agents often hear. Below are the four most common seller myths — along with the truth about selling.

Myth: I can list and sell my home on my own.

Homeowners deciding to sell on their own usually do so for the same few reasons: The assumption is that they will save money by not paying a listing broker, or they figure it’s easy to just take some pictures and post the property online.  

 Would it make sense to go to divorce court and use your soon-to-be ex’s attorney? Having your own representation during the transaction is critical -- Stop and really think. You're essentially paying the buyer’s broker to work against you.

Any good Spokane realtor knows that to get top dollar for your home happens because of marketing, strategic positioning, and negotiations. That must be mixed with a real-time pulse of the market. Without an experienced Spokane realtor who knows what pitfalls and red flags to look for, a homeowner going it on their own could be in contract for months and they may still lose the deal to something that could have been avoided. A skilled Spokane agent can highlight the strengths of your home while also addressing the less desirable features, they can time the listing of your property, they will know what to say and what not to say in negotiations, and most importantly, they will understand when to push and when to hold back.

There are thousands of real estate agents in Spokane alone, and every one of them gets a daily list of all the available homes  that are "for sale by owner." Many Spokane realtors will not bring their buyers to tour a FSBO because they are completely unprotected on receiving a commission or from the buyer going directly to the seller. The FSBO list is truly a prospecting tool for many Spokane realtors hunting for business. I guarantee that you will be bombarded with emails, calls, and visits from them. 

Myth: Choosing a realtor based on biggest commission discount.

The standard commission is 6%. The commission is then split between the buying and selling brokers. Now, there are many brokers who will accept less. Don't you think how the broker negotiates their own commission is a reflection of how they will negotiate on your behalf when a buyer makes an offer for your home? The strategy of this realtor is to reduce their commission to secure your business. I believe you can expect that same strategy to reveal itself when it comes to fighting for your asking price. Furthermore, brokers can see the commission offered on all properties and with standard commissions at 6%.  This could put your home at a disadvantage.

Myth: I don’t need to stage my property.

Everyone does not have the same taste. Homeowners fall in love with their home. The way it's furnished and designed expresses the style and interest of the homeowner. The perfect buyer can walk in and we may lose them and their offer because they can’t see past your gnome collection.

A buyers imagination plays a huge part in every aspect of the sales process. You hear it all the time that buyers will decide if a property is right for them within the first few seconds of being in a home. We stage homes so that they make a space neutral. This allows more people to imagine themselves living there and helps them feel like it's home.

I can accentuate the good qualities of any difficult rooms while hiding the bad features by staging. A small living room can be made to look larger by decorating with the proper sofa. Staged homes sell in half the time. Homes that sit on the market longer have a lower inherent value. A buyer begins to doubt your home. 

Most, if not all buyers, start their home search by looking online.  You make the best first impression possible when your home is staged and photographed well. Buyers will choose to visit your home more likely. This will help it sell faster. Making the upfront investment in staging will pay dividends in the long run.

Myth: I’ll look for homes when I have a buyer for the place I’m selling

The worst position for a buyer is to be in a rush to find a new home because their current home is under contract. Preparation is never premature. Looking for a home before you put your home on the market or before your home is under contract gives you more power and time to find the correct home. It is possible to find your dream home in this short window. There are sellers who are left settling for what's available or living in inconvenient, short-term situations because they were in a rush to choose. Starting your search at the time of listing your current home is imperative. 

Those are the four most common seller myths — along with the truth about selling. Selling a home is a full-time job. Inside each of these obstacles or difficulties, is an opportunity for your home to shine above the rest.

  selling home, spokane real estate, home selling, home seller tips, getting ready to sell, christian robinson

Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

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