While most home sellers are ready to take your advice, there are still some myths about pricing and the sale process you may need to address. These are still going strong in today's market.

Myth 1: Never Accept the First Offer. While a seller may think that their first offer isn't the best, it probably is, and here's why. Today's buyers have done their homework. They know just what they want and are prepared to offer a fair price to close the deal. This is why new listings get the most views during their first week on the market.

If a seller decides to wait for a better offer, this often backfires. If their property remains on the market for weeks or months, many potential buyers will often assume there's something wrong with the property, or that it's overpriced.

Myth 2: "My home will sell itself." This may have been true during 2020 and 2021, but not anymore. Today's serious buyers are studying every new listing, so sellers needs to understand that pre-sale preparation is especially important. Sellers should view the transaction as similar to selling a vehicle online. They wouldn't post a single photograph of a car or truck that needs detailing, as they know this wouldn't draw as many buyers as a shiny vehicle with an immaculate interior.

Myth 3: Major renovations pay for themselves. While sellers could pour a generous amount of money for a new kitchen or open-plan living area, these may not mean a lot to potential buyers. Every buyer has their own taste and may not be as impressed by updates as the seller expects. Minor exterior renovations are the few exceptions to this rule. For example, a new garage door or updated landscaping will probably pay for itself.

Myth 4: "I don't need another mortgage yet." In today's market, successful buyers have already negotiated financing before they view a home. As a seller, you may become a buyer faster than you anticipate. As always, feel free to reach out to me for a quick, informal review of financing options.