Real estate is one of those topics where misconceptions form gradually and do not necessarily adapt to the market. Referring to old information can cost you. Do not fall for these Las Vegas property selling myths.
Selling FSBO Will Definitely Increase Your Net
Avoiding a real estate commission will not automatically lead to a higher net. Real estate agents understand the local market and know the best way to present your property. Without that knowledge, you might price incorrectly, lose critical marketing time, or fail to reach most of the buyers out there. These could cause a decreased sale price, perhaps less than what you are saving on commission. There are also other pricy mis-steps that you may make along the way without the assistance of an experienced real esetate professional.
Pricing Is Less Important in a Hot Market
The real estate market is improving and you want to receive maximum value for your property. You hear in the news that listings selling for greater than the asking price, so you price your property beyond the range of others and expect an even greater final price. This tactic may be a huge mistake. Comparable listings might have sold for above asking price because their starting price was appealing. You should not conclude that you will get above the asking price no matter what price you choose.
You Receive Back the Full Value of Money Spent on Home Renovations
This is one of the most popular selling myths. Sadly the cost of property repairs is not normally regained when you sell. Even though upgrades do increase house values, the percentage depends on the type and scale of work. Kitchens and bathrooms, for instance, usually provide more than other rooms.
It Is Better to Offer a Concession Than Make Repairs Ahead of Time
Providing a buyer incentive is not the best method to handle needed repairs. Some items impact buyer impressions. Even with the concession, home buyers may lower their offer price when a home is in disrepair.
The Only Factor That Matters is Location
In every area, there are a few towns that are highly desirable. Buyers spend top dollar and believe that it will be a wise investment. However, the high demand areas are not always the best investment because values are typically close to their maximum. There might be little opportunity for upward movement. In many cases, the moderately popular areas produce higher returns.
Avoiding Las Vegas Property Selling Myths
Purchasing a property is a huge investment. When it comes to purchasing or selling homes, it is important to be educated and make smart decisions. Refer to accurate facts rather than the Las Vegas property selling myths. Work with experienced real estate professionals to guide you through the steps. This will allow you sell your home faster, for more money, and with minimal liability.