Debunking Common Myths About Selling Your Home!

Apr 18, 2024

If you are preparing to add your listing to the many houses for sale in Murfreesboro, TN, there is a strong possibility that you have already spent some time looking online and searching for foolproof guides, secret hacks, and professional tips and tricks to sell your home quickly and for the maximum amount of money! However, much of this advice is outdated at best and, at worst, inaccurate enough that it could actually delay your sale, with buyers choosing other houses for sale in Murfreesboro, TN, instead! With that in mind, let's debunk some of the most common myths about selling your home.

Myth 1 - Always Price Your Home High

One popular tip you will see all over the internet is to price your home higher than you expect it to sell so that there is room for negotiation and you still get the true price you wanted. However, this can actually backfire. If the price seems over-inflated compared to other houses for sale in Murfreesboro, TN, it will likely sit on the market for longer as buyers opt to view more affordable options. As time passes, not only is the property overpriced, but buyers start to wonder why it has been on the market for so long. Is there something wrong with the property? Eventually, you may be tempted to cut the price, maybe even lower than the other houses for sale in Murfreesboro, TN, to grab some interest from buyers. However, this, too, can worry potential buyers. You may even signal that you are keen to sell, and buyers may be tempted to lowball!

Myth 2 - You Should Only Sell In Spring

The myth that you should only put your home on the market in Spring is an example of outdated advice. In the past, there was a preference to buy and sell homes in the Spring since the weather is more favorable, kids are finishing up the school year, and it's just more pleasant to walk around neighborhoods to attend open houses. However, the reality is that there are houses for sale in Murfreesboro, TN, all year round! People often move due to lifestyle changes such as relocation for work, marriage, divorce, or other family matters. Life happens in every season! Even though the real estate market is often more hectic in Spring, many buyers prefer buying during fall or winter to avoid the hustle and bustle! The bottom line is that the right time to sell your home looks different for everyone. Talk to a local real estate agent who knows the Murfreesboro market for advice on the best time to put your home on the market.

Myth 3 - Renovating Your Home Always Adds Value

If you are selling your home, you have probably been advised to do some renovations to make it more desirable and to help add value. Certain renovations are advisable, but it is not true that all renovations will add value. It is best to avoid extravagant renovations such as a fully appointed gym or a steam room in the master bath! Not all buyers will be interested in these changes, and you will likely end up losing money. High-cost renovations may also increase the value of your home above other houses for sale in Murfreesboro, TN, making it less desirable to buyers. If you are going to be renovating your home before selling, it is important to focus your efforts on areas that are guaranteed to return on the investment. Winning renovation projects include:

• Updating the kitchen or bathroom

• Installing energy-efficient appliances

• Staging a spare room as a home office

• Enhancing the property's curb appeal

Myth 4 - You Won't Make a Profit Selling a Home 'As-Is'

While we are on the topic of renovations, let's talk about choosing not to renovate or stage your home and putting it on the market as-is. There is a common misconception that this will devalue your home and make it impossible to make a profit. While some buyers are searching for houses for sale in Murfreesboro, TN, that they could move into immediately, there are plenty who are willing to choose a fixer-upper that they can renovate to their own preference. Depending on the local real estate market, you won't necessarily have to lose money if you choose to sell as-is, especially if your property is in a desirable location.

Myth 5 - You Must Hold An Open House

Open houses have a certain air of romance attached to them. If you look at any real estate show on TV - or even movies - you will see charming realtors serving up warm cookies to scores of potential buyers as they stroll through the property in awe of the various fixtures and fittings. However, most of the visitors to open houses are nosy neighbors and window shoppers rather than interested buyers. Genuine buyers are more likely to book a one-to-one viewing. Studies show that 60% of millennials use online resources when looking for houses for sale in Murfreesboro, TN. Only 30% use traditional channels like open houses!

--