If you are a newbie homeseller in Milwaukee, you have probably heard at least some stories about homeselling process that sound too good to be true. Sadly, most of the times, this is because they probably aren’t really true.
When you decide to sell your house, you might think this is more straightforward compared to buying a house. In the end, finding the right home is difficult, and when you’re selling, the only thing you need to do is contact a real estate agent in Milwaukee who’ll deal with everything and wait until a buyer appears, right? Wrong! Homeselling process requires some science and it has some ups and downs. So be vary of some myths people still believe in. Even a well-meaning advice can damage your chances of selling your property.
Below are 7 commonly-heard myths about homeselling process that can bring more harm than good.
You Need a Real Estate Agent
Sure, getting a real estate agent can help you if your house is in top shape and located in a sought-after area – but keep in mind that even this isn’t a guarantee when you’re selling in a buyer’s market. However, if your house is in needs of any repairs of upgrades, you may end up losing several thousands of dollars – excluding a commission fee! Not to mention that a real estate agent services typically exclude any marketing activities, so if you expect your home to be advertised, you’ll need to prepare an extra penny.
Today, there are many alternatives to selling with an agent that make homeselling process more straightforward. These include FSBO and working with a real estate investor, also known as a direct buyer.
You Don’t Ask for Advice about Your Home Value
You know your home the best. You’ve spent years in it, and you know every room like your back pocket. You also know every flaw and every perfection in it. This makes many people think they can estimate the value of their property on their own. In the end, the calculation isn’t that hard. You just look at all the similar homes on the market, see the price per square feet, and do the math. Well, the truth is, it isn’t as simple. Homeowners aren’t the best when it comes to estimating the home price. They tend to overestimate it due to emotional factor, which is completely understandable. Realizing that your home is worth less than you think is hard, however if you overprice it, no one will want to buy it. This is why value estimations should be left to the professionals.
You Can Estimate Your Home Value Using Online Calculators
To connect this on the last myth: No, using online calculators isn’t the same as hiring a professional. You can ruin the entire homeselling process by wrongly valuing your home because you fully believed online value estimates. There are many variables that go into the calculation, and there isn’t a standard formula that works great for everyone. Comparative market analysis is precise, but when it’s done by people instead of machines, they can see many factors that a computer doesn’t know how to calculate. This includes photo quality, latest sales, how far your home is from shops or schools, and similar.
You Can List Your Home As-Is
No matter how pretty and well-maintained your property is, you can’t just list it on MLS as-is and expect buyers to fight over who will buy it. Even if you have always taken care of the place you live in, your home can wear out just by existing. If you think everything is okay with your house, maybe a good idea is to hire a professional inspector, as they can notice some flaws you can’t see on your home. Even the best of properties need some additional fixes. If anything else, just doing a proper cleaning can help you make a homeselling process easier and more straightforward. And if you don’t feel like investing in repairs and upgrades, you can always contact a local real estate investor, who will be glad to give you a cash offer for your house and buy it as-is.
Any Upgrade Needs to Be Drastic
Just because we mentioned some upgrades need to be made, this doesn’t mean you have to make drastic changes on your property. Don’t get a whole new bathroom, just freshen it up a bit. Make your front yard look nice by buying new flowers and mowing the lawn. In a homeselling process, little goes the long way. Some of the things you need to focus on are the curb appeal, removal of any personal items, as well as making sure everything works properly. This includes doors and windows. If you go overboard with upgrades, you may end up losing money in the final run.
You Can’t Sell Your House in Winter
Summer and spring are traditionally considered to be the best times for selling a house. While it is true that moving companies and real estate agents have more job during warmer months, in the latest years you can sell your house any time of the year. It all depends on the market, as well as the demand. In fact, summer has its downsides, as many people are looking to go on a vacation, or don’t want to move as school is starting soon. Not to mention that alternative methods can enable you to sell your house whenever you like. Direct buyers don’t care about the seasons!
You Can’t Profit if You Sell to a Direct Buyer
Many people don’t even think about selling to direct buyers in Milwaukee, as they believe the myth that they won’t profit. However, this isn’t truth, and direct buyers simply make the homeselling process more effortless and honest. While it is true that direct buyers will likely offer you less than the house is worth on the market, think about all the costs you’ll have if you work with a real estate agent. With direct buyers, there are no commissions, no need for paying for repairs, you can even forget about the closing costs as direct buyers will cover it. Not to mention that most direct buyers can close the sale in just seven days. In other words, you don’t even have to think about the holding costs! So, while it may seem like you’ll earn more if you list your house with an agent in Milwaukee, when you count in all the expenses, you may even end with lesser profit than if you have sold your house directly.