Selling Your Home Isn't Like Reality TV Shows: Here are 10 Cold, Hard Real Estate Facts! by Holly Budde
Let me guess: You have listed your home for sale, you have watched all the TV shows about it and now you’re perplexed that it isn’t sold? Here are the cold, hard facts why reality TV isn’t real-world selling:
- You can over-improve! Updates are wonderful, but not all generate a return.
- A buyer never chooses one of three homes – often they look for months!
- Going back to No. 1, are you overpriced? Reality TV never mentions appraisals! Regardless of what you have in it, your comps are your neighborhood's sold prices for 12 months.
- Real estate is always a local business! What is listed (and its price) is your competition.
- Open houses do not usually generate a crowd. Unless, of course, a TV producer pays the extras to show.
- Every buyer has a right to, and every lender will require, an appraisal.
- What you owe plus what you have added is your problem, not the buyer's! Net listings (a minimal amount you must achieve) is usually an overpriced house.
- If you aren’t agent-friendly, they don’t show it.
- Every local market generates its own statistics. National trends are meaningless in your situation. Gather local facts!
- Builder incentives in your area are your competition.
For more home-selling tips, visit HollyBuddeRealEstate.com.