Home-Selling Myths You Need to Stop Believing Immediately

You are confident that you have a nice place, plus the house down the street just sold right away. The only thing you have to do is put a sign in the front yard and it’s a done deal, right? Not so fast. Selling a home is as much a science as buying one is. Don’t fall for some of the most common misconceptions about selling your home.

I’LL JUST USE THE ZESTIMATE TO DETERMINE MY PRICE

“The Zestimate® home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is calculated from public and user-submitted data, taking into account special features, location, and market conditions. We encourage buyers, sellers, and homeowners to supplement Zillow’s information by getting a comparative market analysis (CMA) from a Real Estate Agent.” – Zillow

In fact, even the CEO of Zillow has been quoted on not recommending you use the Zestimate to price your home – “We call it a Zestimate and not a zeppraisal and not a zeprice. It’s meant to be a starting point,” Rascoff said. “To determine a more accurate opinion of a home’s value you should hire a real-estate agent, or more to the point, you should sell the house and then you will know how much it’s worth.”

It’s safe to say even Zillow wouldn’t recommend using their Zestimate to price your home.

YOU KNOW BEST WHAT YOUR HOME IS REALLY WORTH

Unfortunately, sellers aren’t always the best judges of value when it comes to their own home. Sellers typically have a deeply engrained bias and an emotional attachment, and understandably so. In turn, this can cause a seller to overvalue certain aspects of the home.

In fact, for sale by owners tend to be overpriced because of the emotional factor. A Realtor will know the neighborhood and has a professional understanding of the comps in the area, which will play a pivotal role in pricing your home correctly.

JUST SELL YOUR HOME AS IS

Sellers tend to overlook the minor bumps and scratches throughout their home because they are there just about every single day. The return on investment for a fresh coat of paint on a wall, fixing a door knob, or swapping out a light switch cover is unbelievable.

SPRING AND SUMMER ARE THE BEST TIME TO SELL A HOME

Sure, everyone seems to love spring and summer time. But the truth is that any season can be the best. It just depends on the market. There may be a lack of inventory and a high buyer demand in the winter, making it an incredible time to sell.