Not only is Joe Santoro a successful EveryHome listing agent, but he’s also the founder and owner of Personal Property Managers! He was kind enough to chat with us about his top three home selling myths:
Myth #1: Sell your house on your own and save money. Some people do successfully sell homes on their own, but they need the skills to get the home listed online, market the home to prospective buyers, negotiate the contract and then deal with any issues that arise during the inspection or loan application phases. It’s not impossible to sell a home on your own, but you’ll find that buyers expect a substantial discount when you do, so what you save on a real estate commission may end up meaning a lower price. It’s not impossible to sell your home on your own for the same price you’d get with an agent, but it’s not easy.
Myth #2: Hold out a little longer…the market will go up. In recent years, homebuyers and sellers have experienced a time of increasing home values, then a sharp decline during the economic downturn and now another period of increasing values. Most seller think that the market only goes up; who can predict when a correction will come? The recent recession should have reminded everyone that real estate prices can indeed fall, and fall a lot.
Myth #3: Definitely renovate your kitchen and bathroom before you sell. If your kitchen and baths work, a major remodel could backfire. Prospective buyers may not share your taste, but they don’t want to redo something that has just been renovated. In many cases you are better off adjusting your price accordingly. Additionally you may only get back 20 cents on the dollar if anything at all. Most buyers want to put their own spin on things.