What are 9 myths people believe about selling real estate in Birmingham?
While popular beliefs may be chock full of intriguing details, they are hardly the truth about selling real estate. Even if it is a false narrative, what we believe can significantly influence our decisions. When it comes to selling your house, it’s important to know the options that are available to you. Don’t allow misguided advice of others to lead you down the wrong path with what may be one of the most significant financial transactions in your lifetime.
In taking the time to learn more about these myths, you may save thousands of dollars by making a well-informed decision, keeping more of the equity you’ve built for yourself. So read on as we explore nine myths people believe about selling real estate in Birmingham.
Myth #1: I need to stage my home for better marketing in order to sell it quickly.
Fact: Staging your home does not benefit everyone equally.
While staging is a great way to showcase the best features of your home, it is not a necessity when selling. If you are looking to sell quickly and for the highest price possible, many experts will advise against staging your home. Staging can be expensive and time-consuming and you may not want to go through the process of staging if your house is already in move-in condition. If a house has no defects and it’s in move-in condition then there is no need to stage the home.
However, if you’re selling your home and it is vacant then staging can be a great way to improve the appeal of your home and make it more appealing to buyers. This is especially true if you are going up against other homes that have been staged. Staging is a powerful marketing tool that can help you sell your home much faster than if it wasn’t staged. So it really just depends on your situation.
Myth #2: I need a real estate agent to sell my home.
Fact: Everyone’s situation is different and there are no laws that require you to list with an agent.
While it is true that a real estate agent can help you sell your home, there are many people who have sold their homes without the assistance of an agent. In fact, many people sell their homes without ever hiring an agent. So if you are looking to sell your home, there is no reason why you cannot do it yourself.
Many people believe that they need to hire a real estate agent in order to sell their home. The truth is, however, that there are many options available for you in selling your home. In fact, it is not uncommon for people to start out with selling their own homes and then move on to helping other people do the same thing. Often these people become professionals in the field and don’t charge commissions or fees.
However, the overwhelming majority of people have successfully sold their homes with the help of a real estate agent. It all depends on your personal preference and comfort level when it comes to selling your home.
Myth #3: I need to put my selling price low to sell quicker.
Fact: Low priced houses to bait bidding wars might end up back firing if you only get an at-market offer.
While pricing your home lower than the market value may cause you to have a quicker sale, you also run the risk of having an unqualified buyer and losing money. Pricing your home at a competitive price will enable you to sell your home much quicker than if you had priced it low, but also gives you the benefit of not having to worry about adjusting your price to meet the market value.
Myth #4: I can sell my home myself and save thousands of dollars in commissions.
Fact: Selling your houses by yourself saves in commissions, but might cost you in other ways.
While you may be able to save thousands of dollars in commission, you also run the risk of not getting your home sold or taking months to sell it. You’ll need to take into account the amount of time you could save by selling with a professional in addition to extra marketing costs that come with selling yourself. You also won’t have access to the MLS or an investor network like professionals will. All this said, working with a professional is the best thing you can do for almost all instances.
Myth #5: I don’t need to work with a professional because I can do my own research to find tools and tips to sell quickly myself.
Fact: While you don’t necessarily need to hire a realtor, having access to online resources is not a good reason.
While there are many online resources available, a professional will be able to provide you with the most comprehensive information about your home and the surrounding neighborhood. Professionals have access to not only tools to do proper research, they also have years of experience that a few online articles can’t replicate. You’ll need to also consider how much extra stress you will be putting on yourself in addition to the already stressful experience of actually selling your home.
Myth #6: I’ll save money if I list my home with a friend or family member.
Fact: Your friends and family are close relationships and should be guarded and the strain of home selling might be bad for the relationship.
While you may be able to save thousands of dollars in commissions, you also run the risk of not getting your home sold. Friends and family are great for so many things. But selling your home is not the same as having a barbeque in your backyard. Selling your home is a stressful event, and our recommendation is to let a professional take the stress off of your plate.
Myth #7: I can save money by selling my home FSBO (For Sale By Owner).
Fact: You might save money in some ways, but not in others.
One of the most famous fables people believe about selling real estate in Birmingham is that you’ll save money by listing your home as an FSBO. Typically, this option is selected to save the high real estate commissions and other fees to earn a higher profit on the sale. Statistics, however, tell another story indeed. Only eight percent of home sellers tried this sales method in 2020, and the homes that did sell sold for significantly lower prices, in most cases costing the sellers more than the real estate agent commissions would have been on the current market value. However, did you know that you could work with a professional buyer, like those at Mark Buys Houses, to buy your home without paying the expense of commissions?
Myth #8: Open houses sell homes.
Fact: Having 40 people in your home doesn’t guarantee a good offer will be the result, you might just end up spending money needlessly.
Another myth people believe about selling real estate in Birmingham is that they must prepare their homes, set out drinks and snacks, vacate the property and allow their agent to hold open houses to sell their homes. However, as a real estate agent, the interest in holding an open house isn’t typically to sell the property, although it is nice when it happens; instead, their goal is to find new clients interested in buying property. Furthermore, while most walk-throughs at open houses are nosey neighbors or looky-loos, some are also thieves who want to scope out the property. The truth is that most homebuyers find their new homes online, and if a buyer was genuinely interested in your property, they could simply call the agent and set up a showing. Did you know that you won’t have to worry about open houses or showings when you sell directly to a professional buyer like those at Mark Buys Houses? You’ll save the prep costs, and any worries about passing the inspection go out the window because at Mark Buys Houses, we buy houses as-is.
Myth #9: You can guesstimate your sales price.
Fact: Homeowners overvalue their property because it’s personal to them and cannot be truly objective about a fair market value for their home.
Another one of the myths people believe about selling real estate in Birmingham is that by viewing a few listings online, you can determine what your house can sell for with a close guesstimate. But unfortunately, the incorrect sales price on a listing, whether set too high or too low, can cost sellers time and profits. In addition, an error in either direction adds time to your listing because buyers will likely continue to scroll through the thousands of listings available at their fingertips. Did you know a professional buyer like those at Mark Buys Houses will detail your profits on listing with an agent vs. a direct sale so that you can make an educated decision?
Working with the professional investors at Mark Buys Houses chases away the myths about selling real estate in Birmingham, saving you valuable time and money. You can sell your house fast in Birmingham, AL today by working with us. Let the pros at Mark Buys Houses help you solve your problems. Call Mark Buys Houses at (205) 478-3284.