To those that don’t frequently follow the market it can be challenging to separate the myths from the truths and that can be unsettling especially if you are thinking about getting into the market. Assurance and confidence are the first two steps to creating a positive experience and what better way to have those things then with having the knowledge to make an informed decision. Today’s article is all about that. What is true and what is simply a myth when it comes to the Real Estate market?
“Home renovations will increase my profit when I sell.” Many sellers I have worked with are often under the impression that spending tens of thousands of dollars will increase their profit when they go to sell. While this can be true in some cases it isn’t always. Sometimes sellers will see a higher purchase price but will only ever break even or sometimes even take a loss. It can feel challenging to know how much to put into your home in order to get the best return. This leads us into our next myth.
“If I have a Realtor over I have to sell” This is absolutely not true. I have first hand taken appointments to help clients gauge where their home stands in the market. We can help guide you through deciding if now is a good time to sell or not, if there are any home improvements that will help your profit or even just help you see where you stand in the local market. Knowing what the value of your biggest asset is, is never a bad idea. Having a professional that studies the market will help you see where you land and what will be most beneficial for you! (Oftentimes these appointments are free!)
“Realtors only help with buying and selling homes” So many investors aren’t aware that many Realtors help with tenant placement. We are able to assist a landlord with listing exposure and tenant screening. We are also able to help a tenant find the perfect place to call home. We know the areas and fair market value! Ask around to local Realtors to see if they might be able to help you out with this process.
“The highest offer is always the best offer” While this is true sometimes, sometimes it is not. There are many other factors that play a role in what makes a strong offer. While price is important, conditions and closing dates can also play a huge role. Oftentimes sellers are willing to take a small hit on price if it means a sure sale. (By no means am I suggesting you submit an offer with no conditions – when the time comes to submit offers your realtor will help guide you with what path is the best.)
Buying and selling real estate doesn’t need to leave you feeling uncertain. My goal is to help you feel informed and educated so that no matter when the time comes for your next move or which agent you choose to work with you can feel confident!
For questions or future article suggestions, don’t hesitate to reach out! You can reach me at 226-232-4236 or il**************@***il.com