There are three common misconceptions to avoid in a hot seller’s market.

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We’re currently in an extremely hot real estate market, so here are the three main seller misconceptions that happen in a seller’s market:

1. You don’t need to hire a professional agent. Some sellers believe they can do a For Sale By Owner or hire a discount broker and yield the same results as if they had a professional helping them through the process. In reality, nationwide, homes sold with a real estate agent sold for an average of $82,000 more than FSBOs or with discount brokers. Professional agents with proven marketing strategies will know how to get you maximum dollar and the best offer and terms possible. Lean on your agent and learn their game plan. If they don’t have a game plan, you’re not talking to the right agent.

2. You should sell your home as is. Selling your house as is means slapping a massive clearance sign on your front door, metaphorically speaking. Buyers will think the worst; they’ll think there are all kinds of issues with the property and will try to negotiate, which means it isn’t the best offer you could receive. The second most common reason a sale falls through is because of what’s found during the inspection, so we advise sellers to get an inspection upfront to find any problems. They’re often small issues you can tackle early and get them off your plate.

3. If the market is hot, you can list your home at any price. Everyone wants to push to get the highest price possible, but if the price can’t be substantiated by the market, the appraisal will come in low. In 2019, more than 70% of transactions nationwide were financed, meaning they needed an appraisal. If you get to the appraisal stage and the deal falls through because of it, that’s a very frustrating situation, and you’ll have to start all over.

“Lean on your agent and learn their game plan.”

If you have any questions about how to get top dollar from your sale or what the best marketing strategies are in a hot market, reach out to me via phone or email. I would love to help you.