A: One of the biggest misconceptions in a seller’s market is the seller thinks the house will sell itself. Sellers might not see the importance of investing money in prepping the house for market. A Realtor enhances the desirability of the property through strategic marketing to reach the largest cross-section of buyers.
Professional staging taps into the emotional side as buyers imagine themselves in their new home. Behind the scenes, a Realtor will work tirelessly putting together the disclosures, pre-listing inspections, contract negotiation and working with all parties to address issues that could arise during escrow.
For buyers, there is a misconception in real estate today that purchasing a home without an agent will result in getting a better deal.
Both brokerage houses and Realtors are in constant discussion about new properties coming to market or off market listings for the discerning buyer. Realtors can often connect the dots well before a house comes to market or gets published online.
Especially in a seller’s market, a Realtor plays a critical role in helping guide the buyer from getting the loan preapproved to moving swiftly from contract creation to skillful negotiations. Agents also guide the buyer through disclosures and inspections and work through unexpected issues to achieve a successful purchase.
A: One of the most obvious misconceptions is that homes sell themselves — they don’t or at least they don’t sell for top dollar.
Sellers often also believe selling a property is going to be an easy A. In reality, it’s a production with a lot of moving parts. In spite of what’s often an extraordinary return for most sellers in the Bay Area, they frequently leave the negotiating table feeling rather disappointed.
Why? In large part, it has to do with media buzz, heightened expectations and rumors about what their neighbor’s house down the street procured.
So no matter how many well-intentioned offers present, sellers will often turn to you and say, “I thought there would be more.” (Say what?)
The truth is that selling or buying a home — in any market — is primarily an emotional journey and that’s going to be difficult to navigate, irrespective of the success or failure of a transaction.
A: Yet again the spring market has been exceptionally strong for sellers in San Francisco.
The biggest misconception we see in a seller’s market is a seller not understanding the value in investing in pre-market improvements.
While your home may sell as-is, you are potentially leaving tens or even hundreds of thousands of dollars on the table, and a little investment and work up front will pay off handsomely in the end.
A good agent will have a crew of people behind him or her to help transform your home, explain where you will see a return and stick to a client’s budget.
The best improvements in San Francisco are centered on bringing out the beautiful details inherent in a home, creating a fresh and appealing palette, and modernizing a space for today’s buyer with updated finishes.
Kira Mead, Zephyr Real Estate, (415) 305-8737, [email protected].