If you’re like many people who have been keeping up with the real estate market since before the COVID-19 pandemic, you’ve probably heard it all: “You can sell your home for $100,000 over asking,” “You don’t have to bother with high-resolution photos,” and “Buyers are desperate, so they’ll take anything.” But with the real estate market cooling down a bit, we decided it was time to walk you through five outdated home-selling rules that (mostly) no longer apply.
Five Outdated Home-Selling “Rules” Sellers Need to Know
Check out the five outdated home-selling rules you need to know before you put your home on the market:
- Price your home high and hope for the best
- You won’t have to offer concessions
- You can always sell your home as-is
- Your home should sell within a week
- You don’t need to style and stage your home
Here’s a closer look at each.
Outdated Home-Selling Rule #1: Price Your Home High and Hope for the Best
When it’s time to sell your home, you absolutely need to listen to your real estate agent’s guidance on pricing. In the current market, buyers are well-educated on pricing trends in specific neighborhoods and they’re not afraid to walk away from a home that’s overpriced – even if it is their dream home.
If you want your home to sell quickly (more on that later), you need to be realistic about your asking price. In order to find the right price for your home, your real estate agent will do a comparative market analysis (CMA), which looks at similar homes in your neighborhood that have recently sold. From there, you can determine the right listing price for your home.
Outdated Home-Selling Rule #2: You Won’t Have to Offer Concessions
If you’re selling your home in a buyer’s market, it’s not uncommon to have to offer to sell your home. Common seller concessions include things like paying for the buyer’s closing costs, providing a home warranty, or offering a credit towards repairs or renovations.
While you may not want to offer any concessions, it’s important to remember that in a buyer’s market, buyers have more negotiating power. You may need to be open to the idea of offering concessions.
Outdated Home-Selling Rule #3: You Can Always Sell Your Home As-Is
If you’re selling your home as-is, that means that you’re not making any repairs or renovations before putting your home on the market. While this may save you some money in the short-term, it could end up costing you in the long run.
If your home needs repairs, it’s likely that buyers will low-ball their offer or completely walk away from the deal. To get top dollar for your home, it’s worth it to make the necessary repairs before putting your home on the market.
Outdated Home-Selling Rule #4: Your Home Should Sell Within a Week
In today’s real estate market, it’s not uncommon for homes to sit on the market for weeks or even months before receiving an offer. This is especially true if your home is overpriced or in need of repairs.
If you’re hoping to sell your home quickly, the best thing you can do is price your home competitively and make any necessary repairs before putting it on the market.
Outdated Home-Selling Rule #5: You Don’t Need to Style and Stage Your Home
When you’re selling your home, it’s important to remember that buyers are looking for a home that they can see themselves living in. In order to make your home appealing to buyers, it’s important to style and stage your home in a way that is neutral and inviting.
While you may not want to put any money into your home before selling it, it’s important to remember that first impressions matter. If you want to sell your home quickly, it’s worth it to style and stage your home before putting it on the market.
Are You Selling a Home in DC Ranch?
Thinking about selling your home in DC Ranch? Call us at 602-694-3200 to find out how we’ll market it to all the right buyers. If you’re also looking for a new home, we’d love show you any listing in the community. Let us know what you’re looking for and we’ll be happy to search for something that’s a perfect match for your needs.
While you’re here, check out our:
- Country Club Village homes for sale
- Desert Camp Village homes for sale
- Desert Parks Village homes for sale
- Silverleaf Village homes for sale
Realtor | Founder
The Matheson Team
RE/MAX Fine Properties
21020 N. Pima Rd., #100, Scottsdale, AZ 85255