Top 5 Tips for First Time Home Sellers
Selling your home for the first time can bring a myriad of emotions ranging from excitement to sheer terror. In order to ease the process I have come up with the top tips for first time sellers to make the process as smooth and easy as possible.
Choose the right agent
This is #1 because it is crucial that you choose the right agent for you. This is why it is important to talk to a few different agents to see who clicks with you best and who demonstrates a significant amount of market knowledge. Another vital piece of hiring the right agent is to check out their marketing and see if you like what they are doing. Since we live in such a digital world, it should be pretty easy to find them and you will see how they are going to market your home and help it reach as many buyers as possible.
Price your home correctly
This comes in a close #2 to choosing the right because there are a couple things that can ultimately end up in you losing money.
Pitfall #1, pricing too high can be devastating because your home could not sell and end up sitting on the market becoming stale. This ultimately leads to price reductions and the potential to missing the market and having to accept a lower price than initially expected.
Pitfall #2, pricing your home too low in hopes that you will get multiple offers and have a bidding war is risky because what if multiple offers don’t come in? You could end up leaving thousands of dollars on the table because you wanted to gamble a little bit on the market.
There are a lot of things that should be taken into consideration when pricing your home and that’s why it is vital to hire the right agent because they will have the knowledge, expertise and best strategy to get your home sold for the most money in the shortest amount of time.
Get your home ready to sell
Getting your home ready means so much more than cleaning and tidying up all of your clutter. This also means you should fix and repair anything that you have been holding off on. An inspector is going to find it anyways so you are better off taking car of it now rather than having to re-negotiate with the buyers in escrow. Trust me, this will save you quite a bit of stress.
You also need to get the house ready for showings. This is always a really weird feeling for first time sellers because there will be complete strangers walking through your house, opening doors to closets and looking in places you couldn’t even imagine they would look. Pack or lock up in a safe any valuables or keepsakes that you wouldn’t want to get taken or possibly broken in a showing.
Another thing is to make sure the home is accessible. You don’t want it to be impossible for the buyers to set an appointment to see the house because buyers will end up not wanting to see your home.
You have different rights than buyers do
Once you are in escrow you have a very minimal chance of getting out of the contract. Buyers on the other hand can cancel or get out before their contingencies are lifted. This is why it is important to be ready to move when you accept an offer because there’s no backing out at that point!
Handle offers with care
We all know that selling your home is one of the biggest transactions of your life and with that comes a lot of different emotions. Unfortunately, being too emotional can lead to clouded judgement and making things more difficult than they need to be. I have seen sellers on both sides of the spectrum where they get greedy and push buyers completely out of the water. I have also seen sellers become insulted at a lower offer than expected and blow the negotiations right out the gate.
That’s what I am here for! Having an experienced and savvy negotiating agent is very important because you don’t want to leave any money on the table or blow a negotiation over a small amount of repair work. You want an agent that can help steer you through all of the offers with a level head and a unbiased opinion about them.
There are tons of other tips that I could give you but I felt that these were some of the most important ones. Plus, if I give you everything you don’t have any reason to give me a call!