Shelley Koster
Bartlesville & Grand Lake Realtor
The real estate market is confusing enough without throwing in tall tales and outdated assumptions, many of which you may believe.
Real estate myths are perpetuated through bad experiences, that don’t necessarily reflect everyday circumstances, but nevertheless, it is easy to become convinced. Once you’re convinced you might be hindered from selling or purchasing a home.
Having been in the business for over ten years, we wanted to bust some of these myths for you to make the real estate market less confusing and help you understand it isn’t as daunting as it might seem.
1. Never Sell in Winter
False
There is an assumption that you shouldn’t try and sell your house during the winter. The reason being, most shoppers stop shopping during the winter due to weather, the holidays, or because they are too busy, however, this is not true at all.
A 2013 study from the Redfin Research Center shows that a person who is selling their house in the winter is 9% more likely to not only sell it within the first six months of listing, but also sells it faster than they would in the spring.
Why?
Because, shoppers, shopping during the winter are dedicated to finding a home, no matter what the season. Which is great news for those of you getting ready to sell.
2. Real Estate Agents Are Magicians
False
As much as I wish this were true, it simply isn’t.
There is this idea that hiring a real estate agent will result in selling your home in under a week. Unfortunately, it takes a little bit longer than that.
A real estate agent makes an enormous difference with sorting the legal jargon, paperwork, transaction, and marketing of your house, and while I might be biased, we are a better alternative than selling by owner for these reasons alone.
The truth is while we may not be magicians and sell your house in a week, we can bring buyers to your house, strive to meet your selling goals, and make the experience a lot easier.
3. Young Adults Have No Hope of Home Ownership
False
Buying a house can be a daunting task at any age, but the idea of, “you must be this old to purchase,” is absurd.
Young adults and young professionals can buy a house, through proper financial planning and credit building. While it might involve more dedication than their older counterparts, it is certainly possible.
As an added bonus, buying a house at an early age can be more beneficial for a younger person. For instance, you will pay off your mortgage earlier in life and it creates more stability in your lifestyle and your finances.
4. You Must Have the Latest Property Features to Sell Quickly
False
It’s very common to think the reason why your house isn’t selling is because your kitchen isn’t as “cool” as the house for sale down the street.
This might leave you wanting to go out and upgrade everything to sell your home more quickly, however, having the latest property features doesn’t necessarily mean a quick turn around. Some houses will sit on the market with or without the latest feature.
If you do decide to upgrade, be smart with your decisions. You don’t want to eliminate the payoff on your investment by putting more into it than you will get out of it.
5. You Must Remove All Decor and Go Neutral Before Listing
False, well sort of.
The tall tale is when you’re selling your home, you need to stage your home in a neutral manner that makes the place look like it just stepped out of a Martha Stewart Catalog. That is not entirely true.
You do want to stage your home in an elegant manner that attracts potential buyers, this may mean removing some decor elements (especially around the holidays) that may be in the way or keeping the buyer from seeing the home’s true potential.
Until next time, keep loving our city!
