Discover the top 3 real estate myths that many homeowners believe, and then find out the facts with help from Fortera
Myth #1 spring is the best time to sell a home.
Historically, real estate seasons were tied to summer and the end of the school year. Families were the typical buyers or sellers, and they wanted to move during the summer so their kids could start anew in September.
REALITY: The best time to sell is during the holidays & right after
Today, more than half of buyers aren’t married, and their decisions aren’t based on school schedules. So spring isn’t as relevant as it used to be. Instead, the best time to sell a home is in November, December and January.
Myth #2 Always start with your lowest offer
Some markets may be more competitive than others. But, somehow, in the back of the buyer’s head is good old Uncle Bob saying ‘’never offer the full asking price… It worked in some real estate markets years ago. But times have changed.
REALITY: A low offer may get you nowhere fast.
A buyer in a strong, tight inventory market today would be wasting their time making low offers right from the start. It’s likely a home that’s priced right and shows well can receive multiple offers, sometimes even over the asking price
Myth#3 A cash offer trumps all.
There’s an assumption that a seller, considering two different offers, will always go with the cash offer because there’s less risk. As a result, many buyers who hear they’re competing with a cash offer assume they won’t get the home.
Reality: A savvy seller may be more tempted by a solid financed offer
A good buyer’s agent, upon learning their client is competing with a cash offer, will arm the seller with lots of data supporting their client’s finances, such as a credit report and verification of income or assets.
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