There are many house selling myths that people have come to believe to be true. Buying or selling a house can be intimidating, and not knowing what is true or false can add to the already existing frustration. After all, you’re investing so much time, energy and money into the sale of your house.
Below we have listed 8 common myths surrounding house selling and why they’re nothing more than fiction.
- Online valuations are reliable
Online valuations are not as reliable as people seem to think. Online valuations provide an instant estimate using available sold house prices in an area. This information is often limited as it takes months for the records to be updated and only requires basic information about a house, such as postcode and number of bedrooms.If you are planning on selling your house, you should never rely entirely on online valuations as it cannot take into account any improvements or developments made to your property. Instead, request an in-person valuation that is conducted by a local property expert which provides a better and more accurate estimate of your house.
You can request a free, no obligation valuation from Lavelle Estates any time to find out how much your house is worth. - Selling a home yourself will always save you money
Selling your home can be one of the biggest transactions of your life. You can try to sell it yourself to save money but, there’s a lot more to think about than just putting up a ‘For Sale’ sign and taking nice photographs of your house. Posting your home online may not be enough to spread the word that your house is for sale. Estate agents on the other hand have access to property portals such as Rightmove and Zoopla where most buyers search for homes. They also have relationships with existing clients and can bring the largest pool of potential buyers to your home.
Nonetheless, you’d also have to deal with correctly pricing your home, communicating with prospective buyers, engaging in negotiations, conducting viewings, and handling other hurtles along the way. This may require you to take time off work to deal with all aspects of selling your house. In the long run, you may not even save any money and might end up paying more that you would’ve if you hired an estate agent.
Still not convinced? Read Should You Hire an Estate Agent to Sell Your Home?
- It’s best to choose the estate agent that values your house the highest
It is often believed that it’s best to go with the estate agent that values a property the highest. Not only is this a myth, but it can also cause a lot of aggravation among the parties involved in the sale. Overvaluation is an unethical tactic used by some estate agents to win instructions. It can also result in houses being kept on the market for too long, unhappy vendors who are forced to reduce the price of their property in order to sell, and sales falling through due to banks refusing to lend because the property has been down-valued by their surveyors.Lower valuations can sometimes put people off listing their homes because they believe their house is worth more. However, an estate agent who values your property fairly and at market value is more likely to be acting in your best interest.
- You should always wait and sell in the Spring
It’s true that spring is considered the best season to sell a house as there are more active buyers and houses tend to sell quicker. However, depending on what your reason is for wanting to sell your house, you need to consider if you can wait or if you need to sell right away. If you need to move right away, you should go ahead and list your house instead of waiting until spring. There will always be buyers looking to make a purchase and houses will sell during summer, autumn and winter. However, depending on the season and market conditions, it may take longer to sell your house.
- Quick offers mean the house is priced too low
Many sellers think if they receive a quick offer it indicates that their house has been undervalued. Although this may be the case at times, receiving a quick offer isn’t anything to worry about if you’ve priced your house fairly and at market value.What you need to understand instead is that serious buyers will be searching the web for their perfect home almost on a daily or hourly basis and will often have their finances in order. If your house has just been listed and ticks all the boxes for them, they won’t hesitate to move fast in order to secure the house.
- The house will sell itself
It’s easy to get roped into the belief that any house will sell in a hot market. While you’re not necessarily wrong that any house will sell, it’s generally not recommended to just sit back, relax and assume the house will just ‘sell itself’. Even in a seller’s market where demand is high, your home won’t automatically sell itself if it isn’t presented in the best light possible.A nicely renovated home is great and all, but if it’s empty and not furnished nicely, it could be a turn off to buyers. That’s where staging plays an important role. Staging paints your home in its best light, and helps buyers get a clear visual of its highest and best use. While most buyers place a ton of emphasis on the interior of their homes, they often neglect the exterior. The truth is, your home’s kerb appeal is just as important and will make a good first impression on buyers.
- You don’t need to depersonalise your home
Some homeowners believe depersonalisation is not necessary before they market their house for sale. The truth is, you need to depersonalise your house in order to sell it. Potential buyers often picture themselves living in the houses they view. If your space is too personalised, they may have a hard time imagining themselves living there and it can potentially put them off.
To depersonalise your house, begin by removing any family photos, personal collections, artefacts, furniture or wallpaper that is specific to your personality and taste. Lastly, aim for neutrality. Choose neutral colours and keep furniture and decorations simple and to a minimum.
Not sure how to get started? You can check out our Important Tips to Help You Get Your House Ready to Sell.
- You have to use the estate agent’s mortgage broker and conveyancer
While you may ask your estate agent for recommendations for mortgage brokers or conveyancers, you do not have an obligation to use their services. Some estate agents earn a commission or referral fee as a result of the introduction, so it’s recommended to always do your own research and compare prices and services before choosing to work with any of these professionals.
Ready to sell your house in Liverpool? We can help!
Send us a message or give us a call today! 0151 372 2033.
