By following these tips and tricks, you will put yourself in a much better position to sell your first home and will make the home selling process seem rather easy!
Prepare Your Home For The Market One of the biggest mistakes made by first time home sellers is that they do not know how to or understand how important it is to prepare a home for the open real estate market. Before selling a home for the first time, it’s important you realize how important it is to make sure your home is show-ready as soon as it’s listed for sale.
One of the biggest suggestions for any first time home seller is having a home inspection completed before the house is listed for sale. The likelihood that a home buyer will decide to have a home inspection is very strong. Today’s home buyers are scared away from homes relatively easily and correcting problems that an inspector finds before listing your home for sale can greatly decrease the chance that a deal may fall apart due to a buyer getting scared off.
Another excellent way for a first time home seller to prepare their home for the market is by making low-cost home improvements before listing the home for sale. Just a few of the most popular low-cost home improvements to consider making before selling your home for the first time include;
• Freshly painting rooms
• Professionally cleaning floors and/or carpeting
• Replacing outdated light fixtures
• Replacing outdated hardware on cabinetry
It’s important that first time home sellers understand the importance of making a great first impression on potential home buyers. By not properly preparing a home for sale, a first time home seller could potentially be costing themselves thousands of dollars and also valuable time, in the event their home takes longer to sell.
First time home sellers need to understand the importance of having a top producer representing them during the sale of their home. Selling a home is not an easy task, so don’t attempt to sell your home by owner. For sale by owners, also known as FSBOs, have a failure rate of 85%-95% .
In any given real estate market, there can be several hundred to several thousand real estate agents who have the ability to sell a home. It’s important that first time home sellers understand that not all real estate agents are the equal. Even real estate agents within the same company are not equal. Some real estate agents are part time real estate agents, some are primarily buyers agents, and other agents may only have had their real estate license for a month or two.
How can a first time home seller ensure they hire a top producing listing agent? It’s actually a fairly simple answer, you know how to properly interview real restate agents. A first time home seller who knows how to properly interview prospective real estate agents will have a much greater chance that they hire a top producer and not a dud.
It’s important that first time home sellers don’t always assume that the real estate agent who sold them their home is capable of selling the home. There are several things that home sellers should expect from their real estate agent when selling their home. Some of the things a top producing listing agent will provide to a seller may not be able to be provided by the buyers agent who sold them their current home, such as a comprehensive marketing plan.
Understand Your Local Real Estate Market Real estate markets can vary significantly from one neighborhood to another. First time home sellers need to understand what the current state is of their local real estate market. Generally speaking there are three “states” of a real estate market, a sellers market, a buyers market, and a balanced market.