When you’re thinking about listing your Fort Lauderdale luxury home for sale, you may find that lots of folks have opinions about the best way forward. Sadly, not all of the advice you receive is true. When it comes to successfully selling your home, it’s important to separate fact from fiction. Here are 5 home selling myths you should avoid:
MYTH 1 – You need to renovate your kitchen and bathrooms before selling because home improvements pay for themselves.
Fact: It’s unlikely that you will get a full return on your investment for renovations that take place right before selling.
Minor renovations like new appliances, new countertops or fresh paint might be what you need to attract buyers and increase your asking price. Work with your Realtor to view homes similar to yours that are listed for sale and those that have recently sold to see how your home measures up.
MYTH 2 – The seller determines a home’s value
Fact: The market determines a home’s value, based on prices of similar homes that have recently sold.
Selling a home can be an extremely emotional experience. Chances are you are very proud of your home and you know best how much work and money you put into it over the years.
Our best advice is to approach the sale of your home as a financial decision, not an emotional one. Have your real estate agent provide you with a Comparable Market Analysis (CMA), so you can determine the market value of your home.
MYTH 3 – If the first offer was good, then my home must be worth more.
Fact: Your first offer is usually the best, provided it’s reasonably close to the market value of your home.
New listings typically get the most attention during the first week on the market. Soon after, inquiries tend to slow substantially. Don’t forget that all offers are a starting point in the negotiating process. Use this opportunity to create a mutually acceptable deal.
MYTH 4 – Home selling requires an open house.
Fact: In the Fort Lauderdale luxury real estate market, it’s rare to get an offer from an open house visitor.
The concept of an open house started long before the Internet. A good agent in today’s market will complement your home’s listing with professional photography and video, so potential buyers can virtually tour your home. Your agent can then field requests for private tours of your home from qualified buyers. Not only is this modern approach more effective, it also helps weed out nosey neighbors and looky-loos (folks that have no interest in buying).
MYTH 5 – The best agent is one who recommends the highest list price.
Fact: An overpriced home will languish on the market.
You know the old adage: if it sounds too good to be true, then it probably is. The same goes for the agent that presents a list price for your home that is considerably higher than what other agents have shared. When it comes to pricing a home to sell in Fort Lauderdale, it’s best to look at comparables and make a realistic decision on the list price.
The Bottom Line
A great real estate agent will help you successfully navigate the home selling process. He or she should be a seasoned professional with experience selling homes like yours.
If you’re thinking about selling your luxury home, contact us! We can help you avoid home selling myths and get the best possible price for your home.
