3 Myths People Believe About Selling Real Estate in Memphis

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While popular beliefs may be chock full of intriguing details, they are hardly the truth about selling real estate. Even if it is a false narrative, what we believe can significantly influence our decisions. When it comes to selling your home, it’s best to have your eyes wide open to all of your options. Don’t allow the misguided advice of others to lead you down the wrong path with what may be one of the most significant financial transactions of your lifetime.

In taking the time to learn more about these myths, you may save thousands of dollars by making a well-informed decision, keeping more of the equity you’ve built for yourself. So read on as we explore three myths people believe about selling real estate in Memphis.

Sell It Yourself and Save Money

One of the most famous fables people believe about selling real estate in Memphis is that you’ll save money by listing your home as an FSBO. Typically, this option is selected to save the high real estate commissions and other fees to earn a higher profit on the sale. Statistics, however, tell another story indeed. Only eight percent of home sellers tried this sales method in 2020, and the homes that did sell sold for significantly lower prices, in most cases costing the sellers more than the real estate agent commissions would have been on the current market value. However, did you know that you could work with a professional buyer, like those at Memphis Home Buyers, to buy your home without paying the expense of commissions?

Open Houses Sell Homes

Another myth people believe about selling real estate in Memphis is that they must prepare their homes, set out drinks and snacks, vacate the property and allow their agent to hold open houses to sell their homes. However, as a real estate agent, the interest in holding an open house isn’t typically to sell the property, although it is nice when it happens; instead, their goal is to find new clients interested in buying property. Furthermore, while most walk-throughs at open houses are nosey neighbors or looky-loos, some are also thieves who want to scope out the property. The truth is that most homebuyers find their new homes online, and if a buyer was genuinely interested in your property, they could simply call the agent and set up a showing. Did you know that you won’t have to worry about open houses or showings when you sell directly to a professional buyer like those at Memphis Home Buyers? You’ll save the prep costs, and any worries about passing the inspection go out the window because at Memphis Home Buyers, we buy houses as-is.

You Can Guesstimate Your Sales Price

Another one of the myths people believe about selling real estate in Memphis is that by viewing a few listings online, you can determine what your house can sell for with a close guesstimate. But unfortunately, the incorrect sales price on a listing, whether set too high or too low, can cost sellers time and profits. In addition, an error in either direction adds time to your listing because buyers will likely continue to scroll through the thousands of listings available at their fingertips. Did you know a professional buyer like those at Memphis Home Buyers will detail your profits on listing with an agent vs. a direct sale so that you can make an educated decision?

Working with the professional investors at Memphis Home Buyers chases away the myths about selling real estate in Memphis, saving you valuable time and money. Let the pros at Memphis Home Buyers help you solve your problems. Call Memphis Home Buyers at (901) 828-8419.

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