Myths about selling residential real estate can be costly

On Behalf of | Jan 17, 2019 | Residential Real Estate

With spring around the corner, some homeowners may be thinking about selling their homes soon. However, they may receive some well-intended yet bad advice about techniques for selling residential real estate. Here are a couple of common misconceptions about selling houses in New York and elsewhere.

First, some sellers set their home prices high with the goal of leaving room for negotiating. However, in many cases, this pricing strategy backfires. Potential buyers often will not view a property that they think costs too much money, especially if it does not compare with other similarly-priced homes. In addition, the longer that overpriced homes go without being purchased, potential buyers wonder what problems they have. In this situation, sellers usually have to lower their home prices in the end.

Another common selling-related misnomer is that sellers will earn more money by selling their homes themselves. The truth is that selling a house can be time-consuming, requiring open houses and facilitating showings. Real estate agents can help with these tasks and also guide sellers through the various intricacies of real estate transactions. This can ultimately lead to a faster and more successful sale.

Selling a home can be a complex ordeal whether it is a person’s first time or 10th time. This is because no two residential real estate transactions are alike. In addition, even a seemingly straightforward real estate transaction involves a multitude of forms. Fortunately, an attorney in New York can provide the legal guidance needed to navigate a deal with confidence, ensuring that the client’s best interests and rights are upheld from start to finish.