We all have well-meaning friends who want to help when we consider buying or selling a house. But friendship doesn’t mean you should take their suggestions.
Here are four awful pieces of real estate advice you should never follow:
1. Price your house based on what you paid, and add extra so you make a profit.
“What you want doesn’t really matter in this scenario – the only thing that does is what a buyer is willing to pay,” Realtor.com says. “And that will be based on what similar-size homes in your area sold for recently. And that figure is what the asking price should be based on.”
2. Don’t use social media to sell your home.
“Social media allows you to reach more people. It also allows you to reach more people with your listings than you would be able to by only listing your properties on sites like Zillow,” Woodsmall Marketing Group points out.
“Whether you’re using Twitter Search or Facebook Ads, being active on social media is a great way to find more people to look at the properties you have listed, increasing your chances of making a sale.”
3. Get your new mortgage from the bank you currently use.
You’re better off going with the bank that offers you the most favorable terms. “You already know to shop around for a home. You need to do the same with your loan,” AtlanticBrokerage.com says.
4. Use the listing agent to represent your interests, too.
“While listing agents work for the seller, they might offer to help you, too. What’s wrong with that? It certainly seems to cut down on the number of cooks in the kitchen, and maybe it’ll give you an edge in a competitive bidding situation,” Cassidee says, “The trouble is, you need someone who’s there to serve your interests, not the interests of both sides. You want the best deal you can and the best way to achieve that is to have a buyer’s agent in your corner.”
Ultimately, it’s up to you. You can take someone’s advice or just nod, thank them and do the smarter thing.
Cassidee Reeve, a Top Producing agent at NP Dodge, will look out for your best interests. Set up your free consult at 402-706-2901.