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For people that are selling a home for the first time, the anxiety can be very similar to buying a first home. However, following a tested method for selling a home and trusting in the experts can make the whole process much smoother. Here are our recommended tips for the first time home seller to get the home sold and reduce headaches.
Hire a Real Estate Agent
We list this first because it is the most important step. According to the National Association of Realtors, less than 10% of homes are successfully sold by owners that do not use an agent. That means 90% of home transactions involve an agent. Find an agent with a good track record of selling homes in your neighborhood and your general area, and you are headed on the right path to getting the property sold.
Get the Price Correct
After choosing an agent, you can learn the market value of your home. The agent will have access to all the properties that have sold in the past few months or even the past year. By looking at homes with a similar design, approximate square footage as your home and places that have comparable amenities to your home, you can get an idea of the right price for your place.
Inspect Your Home as If you are Buying It
Remember when you were house shopping? Remember how you inspected each home with a careful eye, choosing the features that you really liked and discarding properties that seemed to have an issue? It is time to go through that process again. Take a deep breath, walk outside the front door, and take a long hard look at your home. Look over every detail and be honest with yourself about the condition of the place. Get things fixed or updated now before buyers come to look at the place.
Determine the Best Time to List the Property
After getting the home ready for listing and hiring a real estate agent, it is now time to find out when the home should be listed. The agent can look at data from the recent sales to find out when is the right time to sell as well as what time periods to avoid. Combining this information with the right sales price makes it much easier to garner the attention of potential buyers.
Prepare for Strangers
With the home cleaned and ready for buyers, now is the time to get rid of things that are no longer needed or store things to remove your personality from the home. Your agent can provide tips about staging. Or you can consult with a professional home stager. The goal is to make the home attractive and inviting, but not make it seem like it can only fit you and nobody else. Staging the home can create an inviting atmosphere that speaks to multiple buyers.
Determining the Most Important Selling Restrictions
Each fist time home seller is in a different position. Some people need to sell quickly due to changing jobs. Other people may not have enough equity to cover large selling expenses, so their ability to negotiate on price is limited. Some people may have lots of equity in the home and are willing to wait until the right buyer comes along and pays the full asking price. It is important as a first time home seller to go over these things with the real estate agent, so they can negotiate contracts with your best interest in mind.
Getting Ready for the Next Step
What happens when the home sells? Will you buy another home right away or will you rent a place, or will you be living with friends/family? Whatever your plans may be, you need to be prepared to move and clear out once the buyer makes an offer and closes on the transaction. Having a well-thought plan for the next step can save you some stress and trouble.
Final Thoughts On First Time Home Seller Tips
Selling a home can be a big task. Thankfully, the digital age provides lots of data and tools to make the process easier. By hiring an experienced real estate agent and following a solid plan of getting the home ready to sell, you should be able to attract the right buyer and get your home under contract with no pain.
Additional First Time Home Seller Resources:
Home Seller Road Map via Karen Highland
Critical Steps When Selling A Home via Conor MacEvilly
Best Real Estate Resources For Sellers via Listly
Real Estate Open House Mistakes To Avoid via Xavier De Buck
About the author: This article on First Time Home Seller Tips was written by Luke Skar of Inlanta Mortgage – Madison. As the Social Media Strategist, his role is to provide original content for all of their social media profiles as well as generating new leads from his website, www.MadisonMortgageGuys.com NMLS ID #1016
Since 1993 Inlanta Mortgage has provided award winning customer service to clients who need to purchase a home or refinance an existing mortgage. Our branch currently serves Wisconsin, Illinois, Minnesota and Florida. On our website you will find state specific mortgage program information for all states listed, as well as general but detailed mortgage program guidelines.
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