Wondering how to sell your home in less time and for more money?
Don’t believe everything you see on HGTV.
Here are four common seller myths that we’ve debunked for you.

#1) Don’t renovate everything

In today’s market, sellers have the upper hand and buyers are competing over a shortage of inventory. While it’s advantageous for your home to stand out, you can likely get a great offer by making smart, minimal repairs. Work with your Rector Hayden Agent to determine what changes they’d recommend and see if they agree that you could focus on low-cost upgrades like new light fixtures, fresh paint, replaced hardware, and some fresh spring landscaping.

#2) Don’t “list high”

Some sellers, especially those who aren’t in a hurry to move, fight to list their home at a price higher than the fair market value. Their idea is that by listing high, they may snag a high-bidding buyer — and if they don’t, they can simply lower the price later on.

This is a dangerous plan for a few reasons:

• Buyers and their agents are unlikely to overbid on a home that’s being sold for much more than the one down the block.
• Homes get the most attention in their first two weeks on the market. When a buyer sees that a home has been on the market for a long time, they will either think that there is something wrong with the home or that it is listed for too high a price.

#3) Don’t sell on your own

The most common reason to sell a home “For Sale by Owner,” or FSBO, is to avoid paying a commission for a real estate agent. While we understand that it can be tough to part with any money from your hard-earned home sale, the reality is that sellers who use a Realtor end up earning more on their home sale, even when the commission is considered.

In 2017, the median selling price of a FSBO home in the U.S. was $185,000, while the median selling price of an agent-assisted home was $245,000.  This large gap may be why the National Association of REALTORS® reports that FSBO sellers have dwindled to their lowest number in more than 35 years. Last year, just 8 percent of home sales were FSBOs.

In short, the act of listing a home for a fair price is best handled by a true market expert who has deep insights on your community, recent sales, housing trends and more.

#4) Don’t sell using a “retail price” model

It’s interesting to see that homes priced at a round number price point — like $150,000 or $400,000 — often sell faster than homes listed at $149,000 or $399,000.

Why? It’s really a matter of buyer exposure to online listings. Today’s home-buyers mostly shop online, and they enter in search parameters based on price. If you list your home at $299,000 instead of $300,000, buyers who are searching between $300,000-$350,000 won’t end up seeing your property.

That small pricing change can make a massive difference when it comes to online exposure. Homes with round number pricing showed up in search results 58 percent more than those that were listed at a “discount” price.

What more tips for buying and selling in the Central Kentucky Market? Get in touch with your Rector Hayden Realtor or join our eNewsletter mailing list!

Although fall can be a challenging time of year to move if you’re a buyer or seller with school-aged children, fall buyers are typically highly-motivated — meaning that sellers could get a faster path to the closing table.  Our gorgeous local fall scenery makes it easy to show off the natural beauty of a neighborhood and the homes within it!

Here are some of the pros and cons you’ll want to consider as you make your decision.

Pros of selling a home in the fall

Less competition

Inventory in our local market is always higher in the spring and summer, and the number of homes for sale usually dips in the early fall. If you decide to list your home this autumn, it may stand out amidst the condensed inventory available.

Motivated buyers

Many families are hoping to accomplish their move by the holidays, or before the second half of the school year begins — so buyers looking in the fall tend to be highly motivated. You could benefit from buyers who are ready to move quickly.

Autumn staging is a breeze

While you’ll have to stay on top of raking and bagging your leaves, staging your home in the fall is relatively easy. The natural beauty of the changing leaves will do half the work for you, and staging tips from your Rector Hayden Agent will get you the rest of the way there.

Cons of selling a home in the fall

Time is precious

For many, fall is the busiest time of year. It’s important to remember that the upkeep of your home’s interior and exterior will be critical to selling your home this season.  Consider cutting back on other less significant plans and commitments so you’ll be up to the task.

Uprooting can be hard

If you’re a parent of a school-aged child, it can be difficult to move across districts in the middle of the school year. However, studies have shown that kids actually adapt very quickly when the transition is accomplished during the middle of the school year.  Immediately having new friends and new experiences can be a good thing!

Ready to sell?

Whether you’re ready to list your home or want the insights of a local market expert, we can help. Contact your Rector Hayden Agent today!