Why it’s important to separate fact from fiction when it comes to real estate.
Confusing… complex… overwhelming… mystifying… frustrating…
Yep, these are all words sometimes used to describe the real estate industry.
We know, because often soon-to-be vendors express these exact feelings when we first meet. And they come to us with all sorts of preconceived ideas about what to expect, usually based on media hype or bad past experiences.
But the good news is, that your property journey - whether you’re a buyer, seller or investor - doesn’t need to be like this at all!
As real estate agents, it’s our job to make sure every single client feels comfortable, confident and, most importantly - in control - of their buying or selling journey.
So today, we’re getting ahead of the game and busting some of those pesky myths you may have heard that might hold you back from jumping in.
MYTH 1 - My property has to sell itself.
What if your property isn’t the flashiest, most charming/modern/polished, or its not located in a popular suburb?
The short answer is - it doesn’t need to be!
Buyers understand that all properties are different. Even the most run down, damaged or unattractive properties have potential. And believe it or not, there’ll be someone out there who is looking for exactly that.
And although it’s good practice to make sure your property is in the best shape it can be, no matter what condition it’s in when time comes to list, it’s up to your real estate agent to sell a story that will appeal to the right buyers - whether this is based on practicality, potential or emotional connection.
Key Takeaway: Every property has appealing features. A good agent will find them, highlight them, and market them to the right audience so a perfect match will be found.
MYTH 2 - Maybe I don’t need an agent… I could sell my home privately and save some cash.
Yes, this is certainly an option.
But remember, going it alone leaves you wide open to the many pitfalls involved in the selling process… and this could leave you more out of pocket than had you engaged an agent.
Real estate agents have spent years training, learning, studying and understanding the intricacies of the industry and market in which they operate. It’s literally their job to do so.
And this experience and steady hand is precisely what you pay for, alongside good service and a relationship that can extend long after your home is sold (investment property maybe?).
Plus, there’s so much more to think about than just an ad in the paper.
You’ll also need to consider these things to make sure your home gets sold:
- ✔️ A tailored, multi-faceted marketing program to attract the right buyers
- ✔️ Open inspections, home styling, professional photography and the best ways to get your property looking its best
- ✔️ Buyer screening & how you’ll handle multiple enquiries
- ✔️ How to expertly manage the price negotiation process (potentially with several buyers at the same time)
- ✔️ All the legal, financial, and contractual paperwork that, if done incorrectly, can lead to huge issues, including the deal falling over, extra fees, and even fines if things really og pear-shaped
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Key Takeaway: For the (comparatively) small commission fees you’ll pay an agent, you sure will save yourself a huge headache if something goes wrong - and most likely sell your home faster, and for more.
MYTH 3 - Vendors have to know the market and determine their own selling price.
Vendors often believe they need to put in the research hours to try and determine what their property is worth. And to complicate matters, their perception may also be swayed by their own emotional attachment to the property and by well-meaning friends and family that offer all sorts of unsolicited advice.
That can feel overwhelming!
But while it’s nice to have a rough idea of what your home might fetch, you needn’t worry - that’s what your agent is for.
It’s an agent’s job to intimately know the market and draw on their many years of experience to guide you in the right direction when setting a price. A good agent will be able to do this with ease, plus answer any questions you might have about local market conditions. So feel free to leave the hard work to the experts!
Key Takeaway: You do not need all the answers. Choose a well-experienced agent with a track record of success so you can be confident they’ll give you the best advice. Using impartial websites like ‘Rate My Agent’ are a great place to start your agent search.
MYTH 4 - I need to spend a fortune on home improvements before I go to market.
You definitely don’t! Sometimes it’s the smallest things that will make the biggest difference. And believe it or not, it’s actually quite rare to recoup significant improvement costs back in the selling price.
Dropping $15K on a beautiful bathroom renovation may only see a $5-$10K uptick in final sale price, while simply giving it a spruce up with a paintbrush and a new, inexpensive vanity from Bunnings might achieve a very similar outcome.
Likewise, when it comes to first impressions, a garden doesn’t need to be professionally landscaped with expensive greenery to be appealing. Mowing the lawn, trimming the trees, planting a few inexpensive shrubs and tossing around some fresh mulch makes it look cared for and presents a much lusher outlook, tempting buyers to instantly fall in love.
Key Takeaway: If you’re ready to put your home on the market, don’t stress about the big things. Unless you actually have a ceiling that’s falling down, or a hallway with no walls, simply focus on the smaller things you can do to tidy up and present a neat façade.
And if you haven’t already, feel free to download our FREE Expert Styling Tips here, where you’ll find a range of things you can do right now (and on the cheap) to get your property ready for sale.
MYTH 5 - I have to wait until Summer to sell my property.
Although we certainly agree that it’s much nicer to be out looking at new homes while the sun is shining, time of year is actually one of the least influential factors when determining sales success.
Buyers are looking for properties all year round. They have many different reasons for purchasing and don’t stop their search when there’s rainclouds above, or squally weather on its way.
A good agent will know the unique ebbs and flows of the local market you’re selling in, and will be able to give you the best tailored advice to take advantage of this.
Because they know their market so well, they will know when demand is usually at its highest (when you’re likely to get a loftier sale price) as well as when there are typically more properties being listed (when you’d possibly need to accept a lower price, because there’s so much choice for buyers).
In fact, Summer can often be the hardest time to sell, as many people hold onto this very myth and the market gets flooded when the sun starts shining!
Key Takeaway: There is no ‘right’ time to sell your property. But an experienced agent that knows your market will definitely be able to guide you as to the ‘best’ time. So keep in touch with your chosen agent regularly and feel confident that they’ll offer you valuable insight.
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Although there are so many fables floating around, these are the ones that come across our desk most often. But they needn’t be the reason you choose to hold off.
There are always buyers ready to consider your home, so if you are looking to sell, the best time to get the ball rolling is always now.
And, no matter what questions or concerns you have, We Connect Property can provide you with some obligation-free, individually tailored advice to ensure your selling journey is a success, and that your property is sold quickly, for the highest price!
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Want to learn more about the best way to sell your home? We’re ready and waiting to answer all your questions!
If you’re just getting started, or looking for more valuable property selling tips, tricks and hints, check out these other handy articles on our blog:
× Which Real Estate Agent Is Right For You?
× Are All Renovations Created Equal?
× Does A Pool Really Add Value To Your Home?
And for all the very best property sales or investing advice, why not connect with us - We Connect Property are your local property market specialists with over 21 years’ experience in buying, selling and managing property in southern Adelaide.
Check out our 5 star Google reviews here to find out what our happy clients think!
Give us a call on 0403 799 983 today, or drop a line to sales@weconnectproperty.com.au - we can’t wait to chat!
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We Connect Property - your Adelaide real estate & property management specialists.
DISCLAIMER: All recommendations made by We Connect Property are general in nature and not to be relied upon as legal or financial advice. To ensure accuracy, we always strongly recommend seeking independent, professional advice tailored to your specific situation before making any investment or financial decisions.
