The property industry has so many myths, some repeated so frequently that people believe them to be gospel. The truth however, is often very different!
Sure, some myths have a foundation of truthfulness to them, but other house selling myths can be completely wrong.
But how do you know what to believe and what to dismiss? Well, keep reading and hopefully we will help you debunk the top nine misconceptions of selling a property!
You should always redecorate with neutral colours before selling
Despite being shouted as an absolute essential for years, the truth is that plenty of properties sell perfectly well without being bathed in a sea of magnolia.
That being said, it is important to remember that some interior paint colours will work better than others. So, if your living room is currently painted lime green, it might be time to get those paintbrushes out.
Estate agents set the price
This is one of those myths that is completely false and is still discussed today. We can safely say that this is not the case… estate agents do not set the sale price of any residential property.
What agents do is offer a recommendation based on numerous factors; an educated estimate of the property’s value. This, however, can be changed by the vendor.
The real ‘setting’ of the price, though, will be made by the market itself. Regardless of the estate agent’s valuation or the sellers input, the market knows best. Listen to what it is telling you and you will achieve the best price for your home.
You need a new bathroom/ kitchen fitted to attract buyers
TV shows, online marketing and much more place such emphasis on these two rooms, everyone thinks that they need to be perfect in order to sell the home.
Of course, kitchens and bathrooms are really important areas of any property, but the truth is that many brand new bathrooms and kitchens end up in a skip, so save your money and concentrate on preparing your home for sale instead.
Instructing an agent with low commission rates will save you money
This sounds like a no-brainer when taken at face value – surely you must save money if you are paying less for the same service?
This is false.
In short, the saying ‘you get what you pay for’ plays a big part for choosing an estate agents.
You should always turn down the first offer
Those lucky enough to receive an almost immediate offer on their home will often feel as though they could be leaving money on the table if they accept. This may be true in some instances, but it is not always the case.
Fast offers trigger a natural human response – panic. ‘We’ve set the price too low and now we’re going to miss out on thousands of pounds… money that could have paid our fees or bought a new kitchen’.
The truth is often less sinister and solely down to the ‘freshness’ of your listing. Think about it, serious buyers are going to be scanning the property portals and local estate agent websites daily, looking for their perfect home. If yours ticks the right boxes, ‘hot’ buyers will want to move fast, thus resulting in a quick offer.
First offers, therefore, should be thoughtfully considered, not dismissed straight away.
‘Buyers are buying my house, not my belongings…’
This is an extremely common statement which, on the face of it, is true. However, a house full of clutter and personal items does not sell as quickly as a similar property that has been properly staged for sale.
Take time to make your home as attractive as possible to buyers and your efforts will be repaid handsomely. Declutter, depersonalise, and clean are the prime objectives here, all of which will allow viewers to visualise themselves living in your home rather than feeling as though they are intruding in yours.
You do not need an estate agent these days
This is false.
Ask yourself, would you want to risk your biggest single investment in this way? Probably not. Choosing the right estate agent is vital, as there are plenty of shady ones out there, but doing without one altogether would be injudicious at best.
If you choose someone like Boxall Brown & Jones, you are guaranteed to get expert advice and have a secure sale. We are governed by and closely follow rules by the RICS, meaning you can trust that we will complete the sale of your property in a professional and efficient way.
The best time to sell is [insert season of choice]
The property market can indeed be seasonal, but putting too much pressure on going to market at a specific time of year can be unwise. Regardless of whether it is spring, summer, autumn, or winter, if the time is right for you to move, that should be all that matters.
A good estate agent will know the local market, and all of its seasonal trends, inside out, so speak to them about how they see your property fitting into the current market conditions. From there, you can concentrate on emphasising what is good about your home according to the time of year, as each season will have advantages and disadvantages to focus on.
And that is it… nine common house selling myths put right! Hopefully you found this list an enjoyable read but, more importantly, we really hope it helps you avoid some of the popular pitfalls associated with selling property, too.
Give our friendly sales team a call today to explore your options and find out what makes Boxall Brown & Jones the local’s choice when selling their homes.
You can give us a call on 01332 383838 or [email protected].