2 MORE Misconceptions About Selling a House in Today’s Market

Dated: October 10 2021

Views: 191

2 MORE Misconceptions About Selling a House in Today’s Market

2 MORE Misconceptions About Selling a House in Today’s Market 

In this competitive seller’s market homeowners who sell their properties often see significant profits. But this hot market may lead some sellers to make certain assumptions about listing their homes. Here are two of them, and why they don’t always pan out.

You don’t really need to do much marketing. It’s a hot market, my home will sell.

Buyers are engaging in bidding wars, and homes are getting multiple offers—selling for over their asking prices in many cases. So why spend much time on marketing?

Sellers who think it’s a waste of time to put much effort into online marketing should consider that most house hunters begin their home searches online. So if a listing skimps on photos that provide a full perspective of their home it probably won’t gain much traction. Sellers should also be aware that potential buyers aren’t always local and able to drive by a property.

That’s why marketing efforts like professional photos, videos, and virtual 3D tours are so important. They help potential buyers decide if a home could be a fit, and if they want to take the time to see it in person.

Always pick the highest offer in a bidding war.

With sellers getting multiple offers on their properties these days bidding wars abound and many offers come in at over their asking prices. What’s a seller to do? Simply take the highest offer, right? Not always.

The terms of an offer should also be a strong consideration. A wise seller may accept an offer at a slightly lower price if the terms are the most amenable.

For example, an all-cash offer that comes in a little lower than the others may be the most appealing because it removes the unknowns of buyer financing, and may mean a seller can close more quickly. In another instance, an offer may give a seller extra time to live in the house until they find another residence. So all factors of an offer should be considered—not just the price.

Blog author image

Chip Boyer

Chip is the IT Manager for Alex MacWilliam Real Estate. He handles the technology needs of the company as well as helping agents in their day to day problem solving.....

Latest Blog Posts

2 MORE Home Upgrades for Under $100

You can enhance the look of your home without spending lots of money. Consider these two inexpensive upgrades to give your home a boost.Flip the fixture in your foyerThe foyer is the very first

Read More

3 Home Upgrades for Under $100

You don't have to spend a ton of money to level-up the look of your home. Here are a few upgrades to fix-up your place without breaking the bank.Light-up your landscape Consider enhancing the

Read More

2 MORE Ways to Make Doing Dishes Easier

There's nothing wrong with liking to wash dishes—if you like to wash dishes. But for the rest of us, cleaning all of the things you can't put into the dishwasher—like pots and pans

Read More

2 MORE Ways to Customize Your Builder-Grade Home

You’ve lived in your new-construction home for a while now, and now that you know you can comfortably manage your mortgage along with your other monthly expenses you're ready to upgrade some

Read More