When you bought your first home, you probably signed on to your favorite search engine website, typed in “First-Time Home Buyer” and you watched as hundreds of thousands, if not millions of results came back, all on how you can make this wonderful process go smoothly.
Unfortunately, there’s a shortage of information available across the board of what to do when it comes time for you to sell your first home. Well don’t worry first-time home sellers, we didn’t forget about you.
In an attempt to help provide some information on a very important real estate topic, here are 7 powerful tips that you should keep in mind when selling your first home:
#1 Define Your Preferred Outcome
In order to make sure that you are satisfied with the sale of your first home, you are going to want to take some time to determine exactly what type of outcome you are looking for. It is best to sit down and outline your expectations. This starts with a list of your thoughts on sales price, timeline, and the amount you hope to receive at the closing table.
For some people, timing is the most important factor and they are willing to take less money in order to sell their home fast. Other sellers are polar opposites and are willing to wait for as long as it takes to get their price. You can do yourself a huge favor by deciding which factors are most important to you before you list your home. Finally, it is a good idea to share your preferred outcome with the REALTOR® you choose to list your home.
#2 Clean. Then Clean Again!
The number one difference between houses that sell fast for the full asking price and houses that sit on the market attracting lowball offers is cleanliness. That means that regardless of how clean your house is right now, taking the time to clean every detailed aspect thoroughly can really pay off for you in both time saved and money earned.
If you have trouble determining what areas of the home need further cleaning, just ask your agent for suggestions. If they have already started showing the house, they will already have some feedback from potential buyers. Ask the agent to identify areas where buyers appear hesitant, and get them cleaned up!
#3 Make Sure Everything Works
These days, more than ever homebuyers are looking for houses that are move-in ready, and they are willing to pay a premium for them. However, you can’t command that premium unless your home is truly move-in ready. Move-in ready is when your home, its appliances, as well as any additional features are all working correctly.
That means that it might be a good idea for you or a trusted handyman to take the time to fix a leaky faucet, patch those pinholes in the drywall, or spray some WD-40 on that drawer that doesn’t quite close right. When a potential buyer walks through your home they don’t want to be busy noticing all of the little flaws throughout the home instead of noticing all of the wonderful aspects of your home.
#4 Set a Realistic Asking Price
It is human nature for us to believe that our home is the nicest house on the block, but letting that influence you into setting your asking price too high can result in a long and stressful sale. Overpriced listings are an easy way to scare off potential buyers that might be very interested in buying your house at a fair price and one of the main reasons a listing stays on the market too long.
With that being said, listen carefully to what your agent has to say. If you took the time to pick the right agent, you should appreciate their knowledge of the local market and respect their assessment of your home’s value. If you picked the proper agent they will truly be an experts on setting a realistic asking price for your home.
#5 Be Prepared to Take Less
In today’s market, there is a very good chance that you will end up accepting less than your full asking price, or at the very least negotiate on some other details of the sale. You should get comfortable with that idea right up front and don’t see it as an insult when a buyer comes in with an offer lower than your full asking price.
There are many horror stories involving sellers who reject offers below their asking price and then find themselves wishing for similar offers months down the road. Once again, trust the advice of your listing agent; he or she will let you know when an offer is realistic and when and offer is unreasonable.
#6 Throw in Some Extras
Sometimes you can increase the perceived value of your home by throwing in some extra perks like including certain appliances or window treatments. Those custom curtains might have cost you a fortune, but they likely won’t fit the windows in your new home anyway, and they might be all you need to close a deal with a potential buyer who falls in love with them.
#7 Listen to Your Agent
It’s been mentioned a few times already, but it is worth repeating again here. You hired an experienced and listing agent based on their expertise and knowledge in the local real estate market, so it only makes sense that you should listen to their advice and respect their opinions about your home. That especially includes the times when they are not telling you exactly what you want to hear. It is just as hard for your real estate agent to provide you with disappointing news as it is for you to hear it.
It is best to be completely honest with yourself and with your agent about your expectations so that you can avoid being disappointed once you have listed your home.
Are you ready to sell your first home? Contact your local Carrington Real Estate Services agent for help today and they can answer any more questions you might have!