Dear David,
We’re thinking about selling our home and downsizing. We entered the housing market later in life, so don’t have as much experience as some of our friends who have bought and sold numerous times. We’re hearing lots of different opinions about pricing, renovations, or whether we need to repaint. It’s all a bit overwhelming, can you help? – BEWILDERED
DEAR BEWILDERED: It’s natural to feel a bit uncertain about selling your home, especially when it’s a new experience for you. You’re stuck between the real-world decisions you need to make, and the urban myths and casual advice you’re getting from well-meaning friends. Let’s unpack a few of the most common real estate myths:
1. “We can price our home however we want, buyers will make an offer.”
Overpricing can backfire badly, even in a busy market. If buyers feel a home is overpriced, they often won’t bother to make an offer, they’ll just move on to something that provides better value (many also hate to negotiate, which is why I have a job). An overpriced listing tends to go stale quickly, and the longer it sits, the more buyers wonder what is wrong with it. Pricing isn’t about what you think your home is worth, it’s about what the market is willing to pay. The right price will attract the right buyers.
2. “It doesn’t matter how our house looks, it will sell anyway.”
The condition of your home matters a lot, and just because it sells, it doesn’t mean you’re getting top dollar. How much money are you leaving on the table by not preparing for market as best you can? Buyers make emotional decisions. Homes that feel fresh and move-in ready tend to sell faster and for more money, and may even trigger multiple offers. Tired or dated homes often sell below asking, even when the market is strong.
3. “Why repaint? The new owners will change it anyway.”
Yes, some buyers will eventually repaint or renovate, but the key word is eventually. Many can’t see past that maroon accent wall, or the wallpaper border you stopped noticing years ago. A fresh coat of neutral paint is the lowest-cost, highest-return update you can make. It gives buyers a blank canvas, and signals that the home has been cared for. Today’s buyers want move-in ready, and they’re willing to pay more for it.
4. “We know our home best.”
Yes you do, but buyers don’t see it through the same lens. They’re comparing your property to others they’ve seen, and their sense of value is shaped by what’s been sold and updated. Friends and neighbors mean well, but their advice may be outdated or based on hearsay. It’s crucial to seek guidance from a Realtor who understands current market dynamics.
PRO TIP: Selling a home requires an emotional shift. Your home is a source of memories for you, but once it hits the market, it’s a product. Presentation, pricing, and positioning matter, and an experienced Realtor can cut through the myths and well-intentioned opinions with clear, data-driven advice. #Advice #AskDavid #TheNegotiator
David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Moving? Get it right. Ask David today! Call or text 519-577-1212.