The buzz around a first-time homebuyer is evident, but what about those selling for the first time?
As a seller, you might have several things on your mind, from picking the right agent to pricing your home correctly, deciding the best time to list, and more. But when you plan things well, you put yourself in the best position to achieve the desired results.
Whether you’re moving because you need more space, or wish to downsize, or relocating for better opportunities, we’ve got you covered!
Here are some quick tips to help facilitate a smooth sale:
Choose the Right Seller’s Agent
Selling your home without an agent is a possibility; however, doing so isn’t recommended. Simply because there’s a lot at stake while selling a home, and a good agent can be your greatest asset when selling. They will manage the entire process and help you understand your options while protecting your best interests.
There are two kinds of agents – listing agents and selling agents. If you’re selling your home for the first time, it’s vital to pick an agent specializing in selling homes.
Look for local agents who have a deep understanding of your specific market, exceptional marketing skills, and a good track record. Interview multiple agents before you pick someone who’ll be a good fit. Get off to a good start by creating a partnership by setting clear expectations and paying close attention to your agent’s feedback for a smooth and successful sale.
Understand Your Buyer Pool and the Best Time to List
Real estate comprises unique local markets and submarkets and varies significantly from one neighborhood to another. So, what seems to sell in one market might not necessarily replicate in the other.
Understanding your local market takes a good deal of research, training, and experience. Here, your real estate agent can do an expert job whenever you’re ready to sell. They will guide you on the best time to list, offer advice on low-cost home improvements, recommend what buyers love to see in your market, etc.
Whether you’re in a buyer’s or seller’s market, picking the most opportune time to sell your home will depend greatly on your local neighborhood, the weather, time of year, and a ton of other factors. There’s a reason why so many people give importance to presenting your home to potential buyers in the best light, so this strategy mustn’t be overlooked.
Price Your Home Right So It Sells Fast
It’s understandable that as a seller, you want the most bang for your buck. But to be honest, there’s nothing more off-putting to a buyer than seeing an overpriced home that’s been sitting on the market for too long.
You can avoid this simple mistake by consulting with your agent. Your agent can carefully determine the optimum price tag by researching comparable homes in your neighborhood, recent sales, and keeping in mind your home’s unique strengths such as layout, location, convenience, etc.
In fact, it’s advised that pricing your home slightly below your competition can attract potential buyers and offer you some negotiation power.
Pay Attention To Your Home’s Exteriors and Interiors
Before a buyer enters your home, they’re going to be looking at your home’s exteriors and hopefully be excited to check out what’s inside. So, make sure you have an exceptional curb appeal. You can quite easily check that off your list by doing simple things like:
- Power-wash the exteriors
- Re-stain your deck
- Tidy up the yard
- Mow and water your lawn regularly
- Trim the bushes
- Refresh your landscape with some new plants
- Tuck back the mulch beds and driveways
- Apply a fresh coat of paint on your front door, porch, and entryway
- You get the idea.
Now that you’ve taken care of the exteriors, it’s time to focus on the interiors. Here are some quick ideas to make your home’s interiors look more presentable.
- Deep clean your home from top to bottom
- Neutralize all odors
- Apply a fresh coat of paint. Choose neutral soothing shades to create the perfect backdrop to highlight your home’s charm and character
- Fix any minor repair work that could come up during the home inspection
Stage Your Home to Boost its Potential
These days, staging your home has become an essential step toward listing. Most staging experts will agree that setting up a home in the right light can spark your buyer’s imagination, help you sell your home faster than average, and fetch you a better price.
Staging doesn’t always mean bringing in additional furniture and pieces for showings but instead working with what you have and showcasing your home’s best features. It usually involves decluttering, sorting, packing, and organizing.
This is another aspect where your real estate agent can help you, as most agents work with a local stager who understands the buyer pool to maximize a home’s power and potential.
Estimate Your Closing Costs & Tackle Your Closing Check List
Selling a home comes with a host of additional expenses. If not planned ahead, those costs can be overwhelming, to say the least. Bear in mind, typically, the seller pays the commission of agents representing both sides. This is one of the largest expenses incurred by the seller.
You can negotiate your agents’ offer upfront but be prepared to pay the full price for their services. Your agent will provide you the complete list of expenses, so don’t be afraid to ask questions whenever uncertain.
Some other costs may include lot survey, transfer taxes, seller credit toward major inspection findings, moving expenses, and so on. Make sure you’re aware of these costs beforehand to avoid any surprises later.
In addition to the closing costs, a seller is responsible for addressing any inspection findings that you might have agreed to fix. You’re also required to disclose any potential issues related to your property under state-specific rules.
Further, your closing day will involve signing a bunch of paperwork and handing over the keys to your buyer, either immediately or after vacating premises, depending on your contract terms. Your closing attorney will register the new deed with the city, make sure you’ve paid off your remaining mortgage, your closing costs, and that you receive your profit!
Final Thoughts
Hope these tips were helpful! Selling your home as a first-timer can be a daunting task, but it’s not rocket science. You can avoid some common pitfalls by educating yourself on the steps involved and making the process more enjoyable and profitable.
Are you ready for clear direction? Get in touch today!
Tim Erickson
P: (652) 451-2273
E: tim.erickson@goluminate.com
W: www.TimEricksonMortgage.com
Mark Henderson
P: (651) 398-3477
E: mark.henderson@goluminate.com
W: www.MarkHendersonMortgage.com