One thing that isn’t usually happening on a daily basis is the processes of buying and selling a home. This is something that normally happens a couple of times in a decade, or even a lifetime! Many people, especially those that have gone through this process maybe once or twice before, may think they know all the in-and-outs of how the home-buying process itself works. Whether from first-hand experience, experiences from friends and family members, or stories they’ve read or heard in passing, believing everything that you read or hear in terms of real estate myths can end up costing you a great deal of money whenever the time comes to buy or sell a home.
Below are three of the most common real estate myths that you may believe!
One of the most common real estate myths is that you should renovate your bathroom and kitchen prior to selling your home. If either of these locations are in good enough shape and everything works well, renovating either of them can end up backfiring on you, as potential buyers may not share the same design taste as you. Instead of renovating, you should instead adjust the selling price of the home accordingly. This will save you not only money, but the time it would have taken to renovate that you could have spent on your new home.
Another common real estate myth is that holding an open house will always sell a property. The truth is that homes don’t always sell to buyers who visit them during an open house, and real estate agents prefer to hold open houses due to the fact that it allows them to find potential customers who are looking to either buy or sell a home. On the other hand, not holding an open house won’t necessarily hurt your chances of a sale; however, holding a broker’s open house for other agents is never a bad idea.
One other common real estate myth is that all properties that are listed in a multiple listing service will show up online. This is never the case. In fact, your real estate agent is the one who will always need to take the responsibility to choose to allow the listing to appear online. Many of them do; however, it’s always a good idea to verify that your specific listing will!
Thank you for reading our real estate and homeowner’s blog. We are Weichert Realtors – Barton Harris & Co. and we’re happy to have helped you learn more about real estate myths when it comes to buying or selling a home.