5 Top Tips for First-Time Home Sellers
Today’s real estate market is very competitive. As a first-time home seller chances are, you’ll find the whole process riddled with a lot of confusion. With economists predicting a major increase in home sales in the coming years, it’s important that you prepare yourself to avoid any and all potential pitfalls. If you are not caught up with the market, now might be a good time to seek the expert advice of a Realtor. Allowing you to equip yourself with knowledge of the do’s and don’ts of selling a home for the first time.
Here are a few important tips to help you get through process the successfully.
- Prepare your Home for the Market
Today’s buyers are very picky because they have plenty of options to choose from. For this reason, you may be forced spend a little more time and money getting your home market-ready. If you can afford it, make some low-cost improvements that can really increase your homes aesthetic appeal. Do this before listing it for sale and you should almost always see positive results.
Consider replacing outdated hardware on the cabinetry, broken baseboards, ripped screens, leaky faucets, and make carpentry and masonry repairs. Apply a fresh coat of paint on both the interior and exterior, clean floors and carpeting, and also replace outdated light fixtures. Update the landscape by trimming lawns and hedges, renovating the driveway paving, weeding the garden and making the necessary repairs on the fence.
Remember that the first impression matters most to potential home buyers.
- Enlist the Help of a Good Real-Estate Agent
As a first-time home seller, you need to understand the importance of having a professional real estate agent to represent you during the sale of your home. There are hundreds of agents out there and therefore it’s crucial that you choose one with considerable experience in the home-selling process.
While you can easily get an agent based on referrals from your friends and family, it’s important to widen your search scope to ensure that you end up with an expert in the field. Consider checking with your local brokerages and agencies, or even look online for reviews of agents on sites like Yelp.
After finding the right agent for you and your needs, you will be required to sign an agreement with the agent and pay a commission. And because the contract binds you to the agent for a period of three to six months, it’s important that you have only the best.
- The Real-estate Agent you Choose matters more than the Brokerage
While it’s of vital importance that you choose an agent with a good presence and base of knowledge, remember that you will only be dealing with the specific agent, not the company they represent. Real-estate agents are simply independent contractors who opt to hang their license with a brokerage firm whose culture and brand match their business. A good agent will work with you to deliver great results no matter what brokerage they are involved with.
- Understand the Real-estate Market in your Area
Before listing your home for sale, get to understand the current situation in your local real-estate market. Typically, some real-estate markets boom with sales during specific months. For example, the New York market records huge sales during most of the spring season. Your agent should provide this information ensuring that you sell your home timely and at an optimal price.
- Correct Pricing is Important
Price is an important consideration for potential buyers. If you have made some major improvements but your home still isn’t selling, then you need to consider lowering the price. To help you come up with the correct price for your home, perform a comparative market analysis by viewing the prices of homes similar to yours that are on sale and also check the past home sales. This way, you will be able to determine the most accurate price for your home.
- Act Fast Immediately you Get an Offer
Do not wait until you get the ultimate offer in order to close. As soon as you get an acceptable deal, go ahead and sign on the dotted line without wasting time. In other words, don’t lose a good selling opportunity in the hope that something grander will come along.
Considering the physical and emotional stress that comes with home selling, it’s crucial that you are prepared to ensure a successful sale.
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