Farmington Hills Michigan Home Selling Myths

home selling myths

Real estate is an industry where assumptions develop gradually and do not necessarily adapt as the market changes. Referring to inaccurate information is not good particularly in real estate. Do not fall for these Farmington Hills Michigan home selling myths.

Selling Without an Agent Will Always Save You Money                                                                                                             home selling myths

Dodging a real estate commission will not automatically result in a better bottom line for your transaction. Real estate professionals understand the market and understand the best way to position your property. Lacking that guidance, you may price incorrectly, waste valuable time, or fail to reach all the buyers. All of this can generate a lower sale price, possibly less than what you are saving on commission. There are many other costly mis-steps that you can make along the way when not guided by a knowledgeable real estate agent.

Pricing Is Irrelevant in a Hot Market

So, the real estate market is active and you wish to receive top dollar for your property. You hear a lot of talk about listings receiving greater than the asking price, so you start your house beyond the price of recently sold listings and anticipate an even greater sale price. This approach can be a huge error. Comparable houses may have sold for above asking price given their starting price was appealing. You should not expect that you will get above the list price regardless of where you start.

You Get Back the Entire Value of Money Spent on Property Repairs

This is one of the most common misconceptions. Unfortunately, the cost of home renovations is rarely recovered when a home is sold. Even though upgrades do increase the value of your property, the percentage is based on the type and extent of work. Kitchens and bathrooms, for example, tend to provide more than other rooms.

It Is Better to Provide a Concession Than Complete Repairs Ahead of Time

Offering a buyer incentive is not the best solution for addressing needed repairs. Some damages affect buyer perceptions. Despite the concession, potential buyers commonly lower their price further when a property shows poorly.

Location is Everything

Farmington Hills Michigan is that great neighborhood that everyone wants to live in. Given the high demand, people assume that it will be a profitable investment. However, the highly desirable neighborhoods are not always the best investment because values may be near the max. There might be little space for appreciation. Often times, the moderately popular locations produce better returns.

Staying Away from Farmington Hills Home Selling Myths

Purchasing a house is a significant investment. When it comes to buying or selling properties, it is critical that you are up-to-date and make smart decisions. Refer to real facts instead of the Farmington Hills Michigan home selling myths. Ask experienced real estate professionals like myself to assist you in the transaction. This will allow you sell quicker, for more money, and with less liability.

Listing: Open House Modal