Not everyone is a pro when it comes to real estate. For example, one might not understand mortgage rates, loans, or the reason why market values drop and rise every year, but there are a few “common knowledge facts” that everyone seems to feel pretty confident about; after all, everybody knows them, right?
What happens when what we think we know about real estate is actually common myth and not fact at all. Who gets hurt? Both the buyer and the seller!
That's why the pros at The Dion-Ivan Real Estate have come together today to share common misconceptions about the real estate world.
Real Estate Myths You Probably Believed
Spring Is The Best Time To Sell
Well the warmth of spring create a favourable time to move it might not necessarily be the best time to sell a house. We see it all the time! Everyone thinks spring is the best time to sell, So what do they do? They sell of course! However, that means that the market is soon flooded. The truth is not many home buyers start looking right after the new year. So, why not beat the rush and put your house on the market as early as January or February? You'd be surprised how many bids you get for your house, and you'll feel twice as smart.
“I Can Sell My Home Myself”
Many homeowners first knee jerk reaction when they hear a realtor’s commission is to back out and sell their home themselves. While you certainly can sell your home yourself, and some people have great success, the majority of homeowners create much more trouble then it's worth to save on the commission. There's so much behind the scenes work a real estate agent does for their clients. From marketing, research, networking, contract drafting, market pricing, and so much more, real estate agents can put hundreds of hours in to sell your home. You must ask yourself if you realistically have the time and knowledge to sell your own home successfully and still get the same value that a qualified real estate agent would be able to get you. As with everything in life, you don't know what you don't know. This is especially true when it comes to real estate. People can easily get sucked into contracts that are unfair causing them to lose out on more money then they ever would have saved by not hiring a professional. For example, a buyer may receive a contract that is conditioned on the buyer selling their house. This may seem fine, but does the seller know to look for an escape clause or what it means for them if there is none? A real estate agent is truly your best friend when buying or selling your home.
A Home Doesn’t Need To Be Staged
This one is huge! Many people think if they have a nice house it doesn't matter if they stage it or not; However, the truth is whether your spending an hour tidying up or weeks decluttering your home, staging your house might be the most important step you do. The first thing a potential buyer is going to request is photos of your home, and this is your best chance to make a positive first impression. If the if the buyer does not feel that your house is clean, cozy, and bright, they may scroll right past your home, never giving it another thought. It doesn't take much clean up the papers, remove the sweaty gym bag, and throw your dishes in the dishwasher before the photos are taken. Likewise, your home exterior needs to be staged as well. The outside of your home sets the tone for the rest of the tour. Mow the lawn, remove the trash, and make sure any toys or unsightly furniture is hidden out of sight. For more tips on successfully staging your home click here.
Whether you’re buying or selling your home, knowledge is power. When looking for good information on real estate, give your local professionals a call! Do not get sucked down the rabbit hole that is Google, which is filled with myths and facts that are hard to untangle.
For more information on buying or selling your home in the Kelowna and Okanagan area, give the trusted professionals of Dion-Ivans Real Estate team a call today!