Sellers: Don’t Buy Into These 3 Misconceptions
San Fernando Valley Real Estate Podcast with Scott Himelstein
English - June 02, 2021 16:16Education real estate for sale real estate agents top real estate agents local real estate agents find a real estate agent home selling tips home for sale home buying home buying process property finder Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
These three misconceptions can prevent you from selling for top dollar.
At this point, I’m sure you’ve heard on the news that we’re in a hyper seller’s market. If you follow my blog, you’ve probably also heard me describe right now as being one of the best markets ever to sell a home. That said, there are three common misconceptions sellers have about this market that you need to know:
1. You need to plan for your next home before selling your current one. Planning where to go next is one of the biggest issues my teams and I have seen with sellers. One of the best parts about this market for sellers is that they can control a lot of the terms and conditions of purchase agreements. For example, we’ve been able to negotiate rent-backs for 30, 45, and even 60 days (and sometimes longer). If you have a longer rent-back option when selling, it makes finding the next house to move into a lot easier.
“Most sellers are still getting top dollar, but it’s important to price your home according to what the market is bearing.”
2. The condition of the home doesn’t matter. Yes, if you put your house on the market, regardless of its condition, it will sell. If you truly want top dollar for the house, though, having my team’s interior designer walk through it, making a few repairs here and there, and doing a little staging can be the difference in making an extra $50,000, $75,000, and even $100,000 on the sale.
3. The price doesn’t matter. A lot of buyers are fatigued from looking at homes and writing offers, so they’re wary of home prices. We’re starting to see overpriced homes stay on the market longer and longer because their sellers are setting prices too high. Most sellers are still getting top dollar, but it’s important to price your home according to what the market is bearing. The comparables don’t necessarily do justice for our sellers because the market’s continuously heading in an upward direction, but your home still needs to be priced accordingly so buyers can see its value. Since buyers are looking at so many homes, they know their values.
As always, if you have questions about seller misconceptions or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.