Posted on September 26, 2018 by shawn_manwaring
No matter what the market happens to be doing right now, understand that you can sell your home if you want to or need to. You can sell it, and you can sell it for a price comparable to other similar homes – as long as you work with the right agent and you listen to his or her advice on how to sell a home for the first time.
6 Best Tips For First Time Home Sellers
Pick The Right Realtor
While it is possible to sell your home without the help of a professional, doing so is not recommended. There is too much at stake in a home sale, and too many things that can go wrong. A good agent will handle all the details and help you understand your options – specific to your area. You can read all the information you want about real estate sales, but you will still not have the connections or experience to market your home effectively and to avoid making costly mistakes.
Interview several Realtors before deciding on the best one. The person you choose will be responsible for how your sale goes, so it is worth your time to look around and be demanding. There are plenty of real estate agents out there, but not all of them are necessarily great. Do your homework and choose someone that can help you accomplish your sales goals.
When selling your home you should be working with an agent that possesses outstanding marketing skills. This is one of the vital traits to look for in a great listing agent. Over 90 percent of all buyers find their home online so you want an agent who has the skills and drive to make your home standout. Outstanding photography, detailed listing descriptions and providing video tours are all part of a top producing agents marketing arsenal. There are lots of real estate agents who do none of these things but if you find the right one they will explain how to sell a home for the first time in great detail.
Price Your Home Appropriately
Picking the right real estate agent and the right price go hand in hand. Everyone wants to sell for the highest possible price. But be careful, because pricing a home too high will repel buyers. If your home stays on the market long enough, it could develop a stigma and be seen as undesirable by most buyers. It is not enough to look at your neighbors house to see what they are selling for.
Your neighbors home may or may not be priced correctly. Always look at similar closed sales as a basis for establishing the right asking price. Ask your realtor to prepare a CMA (Comparable Market Analysis).
Correcting the price a month or two later is not going to fix the problem, either. By that point you can expect to be low-balled whatever price you set. Talk with your Realtor and try to price the home appropriately to the market you are in. If you have a real estate agent you trust, you definitely want to price the home at the point recommended by the professional you are working with.
Spend Time Getting The Home Ready
One of the biggest mistakes numerous sellers make is not being completely ready to put their home on the market. Remember you are in competition with a lot of other sellers who are trying to accomplish the same thing. It stands to reason you need to keep up with the Jones-es when it comes to selling a home! What exactly does this mean? Start with these things:
Exterior Home Improvements
- Ensure your curb appeal is exceptional.
- Make any necessary repairs to any blatant defects like rotted siding or trim.
- Keep decks, patio’s and walk-ways clean and tidy.
- Freshen up the landscaping by planting some flowers with color, pulling any weeds and adding some fresh mulch to beds.
- Seal coat the driveway if necessary.
Interior Home Improvements:
- Thoroughly clean the home from top to bottom.
- Remove pet or smoking odors.
- Paint any rooms that need a fresh or neutral coat of paint.
- Add brighter light bulbs in darker areas of the home.
- Replace stained or worn carpeting.
- Re-finish hardwood floors.
It is understood that there are times when an owner has no money to do some of things mentioned above like replacing carpeting or re-finishing hardwood floors. If you have the funds, however, you will get a great return on your investment as these things can change the whole complexion of a home.
Be Ready to Move if You Get an Offer
When someone makes an offer on your home and you accept it, you will need to be ready to move quickly to finalize your relocation and get all your things out of your home. Sometimes it can feel like you have a good deal of time, especially if you have not gotten any offers. But once the paperwork is signed, you will need to get into gear and take care of all of your business as quickly as you can. Know where you are going to go before the sale closes. Moving is a time consuming and tiresome process all on its own. If you have done your homework on how to sell a home for the first time than you will be prepared for it.
Understand What The Costs Will Be For Closing The Sale
There can be a lot of extra costs associated with selling a home that you may be expected to take care of as the seller. You are also going to need to pay the commission to your real estate agent once the house sells. First, understand that many of these costs, including the commission, can be negotiated. The perfect example of this is when you are selling your home and turning around and buying another with the same agent. Real Estate agents love these kind of transactions!
A business savvy agent is not going to turn down the opportunity to make two sales. An agent that is closed minded and says no to any kind of negotiation might not be the best bet to work with. It is in your best interests to seek a fair deal, so don’t be afraid to seek a middle ground between the offer that is presented to you and what you actually think is fair to pay. After learning these costs you will be more prepared on how to sell a home for the first time.
Know Your Local Market
Local real estate markets are unique, which means that what works in one market may not work in another market. Just because you see a home like yours the next town over that is selling for a certain price does not mean that your home will sell for a similar price. There are so many factors that go into real estate markets that it takes quite a bit of training and experience working in each market to have a clear understanding of what to expect. Your real estate agent should be an expert on your local market and how to sell a home for the first time.
Selling a home is not rocket science but it is easy to make mistakes when you are not completely educated on the process. By following the above tips for selling a home for the first time, you will increase your odds for an enjoyable and profitable sale. When you are ready to sell, contact me: