There are articles upon articles design to help first time home buyers. But what about first-time home sellers?
When the decision is made by a first-time home seller to sale their home, most first-time home sellers don’t have a clue of how to start the process. It’s important that first-time home sellers understand what is involved in the homing selling process.
The biggest mistakes most first-time home sellers make is that they don’t understand how important it is to make sure their home is show-ready when listed. Making low-cost home improvements like having the floors professionally cleaned, updating fixtures, and painting can go a long way is getting multiple offers for your property.
By not properly preparing a home for sale, a first-time home seller could potentially be costing themselves thousands of dollars and valuable time.
Selling a home is not an easy task, so don’t attempt to sell your home yourself. You should look for a Real Estate agent that you feel comfortable with. Ask your friends and family what agents they have worked with in the pass. You want an agent that has some experience, and an agent that can devote full time resources to help you sell your home.
You should find an agent who can easily break down the selling process and explain topics in a manner that you can understand. If your agent can not do this, then you might want to consider looking for another agent.
Another item of concern for First time home sellers is they need to understand what the local real estate market. There are three types of real estate markets. A sellers’ market, a buyers’ market, and a balanced market. A sellers’ market typically will lead to lots of demand for a property and the possibility of receiving multiple offers. If you had any questions, we are in a sellers’ market presently.
If your plan is to purchase another home, then you should work that plan. Many first-time home sellers just assume they will be pre-approved with no problem. So, they wait to the last moment before speaking with a lender. My advice is not to wait! Check with your mortgage lender sooner rather than later.
Lastly you need to think about what price you need from the sale of your home.The number one reason a home doesn’t sell in real estate is because the property is priced too high. Of course, you want to get as much as can from the sale of your home. But you should be realistic and work with your agent to come up with a price that will get your home sold.
The most common way for a realtor to determine a listing price is to use a comparative market analysis. A comparative market analysis, also commonly referred to as a CMA, is an analysis of past home sales.
Selling a home for the first time can be extremely stressful and exhausting. A first-time home seller who has an agent they feel comfortable with will have a much greater chance of a smooth and successful home sale.
By R. Jones
