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Have You Been Fooled by These Common Real Estate Myths?

There are three common real estate myths I’d like to bust wide open today. Let’s examine the truth behind these misconceptions.

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There are several common real estate myths circulating among today’s home sellers. I want to shed some light on three of these misconceptions.

1. If it’s on Zillow, it must be true. Many people rely heavily these days on Zillow’s Zestimate tool. But sometimes Zestimates are just plain “Zesta-wrong.” While this virtual algorithm may provide a decent base for understanding your home’s value, it shouldn’t be trusted to come up with an accurate figure. To truly understand how best to price your home, consult with your Realtor and have them perform a comparative market analysis.

Pricing a home too high in a strong seller’s market is a cardinal sin in real estate.

2. Sellers should overprice their homes and leave room to negotiate down. Pricing a home too high in a strong seller’s market is a cardinal sin in real estate. In a competitive market, pricing your home fairly will give you an edge. Overpricing your home, on the other hand, will only result in a listing most buyers won’t want to come near.

3. All real estate agents are the same. Just like any other industry, in real estate there are some employees or agents who aren’t very good, others who do a decently good job, and a select few who do extremely well in representing their clients. When you list your home, make sure to hire an agent who is going to exceed expectations and get you the absolute most amount of money with the least amount of hassle.

If you have any other questions, would like more information, or want to know how our team can help meet your real estate goals, give us a call at (703) 350-2830.

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