There are tons of articles available for first time home buyers who are looking for tips to buying their first home. The same cannot be said about articles for first time home sellers.
First time home sellers are often confused what the steps are to selling their first home. They sometimes have no clue how important it is to prepare their home for the open real estate market as well as the importance of hiring a top producing listing agent.
In my newest article on my blog, Rochester's Real Estate Blog, I have put together some of the very most important tips and tricks for first time home sellers. The article can be found at http://www.rochesterrealestateblog.com/top-first-time-home-seller-tips-and-tricks/
1. rochesterrealestateblog.com http://www.rochesterrealestateblog.com/top-first-time-home-seller-tips-and-tricks/
Top Secret First Time Home Seller Tips And Tricks
Top First Time Home Seller Tips And Tricks
When it comes to real estate tips and
tricks, there are tons of great articles
and content available for first time
home buyers. The same cannot be
said about tips and tricks for first time
home sellers.
When the decision is made by a first
time home seller to list their home for
sale, there is often a period of
confusion. Most first time home
sellers have no idea where or how to
start the home selling process.
It’s very important that first time
home sellers understand what the
home sale process entails, what
costs are associated with selling a
home, and many other very
important aspects of the home selling
process.
Before you sell your home for the
first time, make sure you check out
some of the most important first time
home seller tips and tricks below. By
following these tips and tricks, you
will put yourself in a much better
position to sell your first home and
will make the home selling process
seem rather easy!
Prepare Your Home For The
Market
One of the biggest mistakes made by
first time home sellers is that they do
not know how to or understand how
important it is to prepare a home for
the open real estate market. Before
selling a home for the first time, it’s
important you realize how important it is to make sure your home is show-ready as soon as it’s listed for sale.
One of the biggest suggestions for any first time home seller is having a home inspection completed before the house
is listed for sale. The likelihood that a home buyer will decide to have a home inspection is very strong. Today’s
home buyers are scared away from homes relatively easily and correcting problems that an inspector finds before
listing your home for sale can greatly decrease the chance that a deal may fall apart due to a buyer getting scared off.
2. Hire A Top Realtor When Selling A Home For The First Time, Not A DUD!
Another excellent way for a first time home seller to prepare their home for the market is by making low-cost home
improvements before listing the home for sale. Just a few of the most popular low-cost home improvements to
consider making before selling your home for the first time include;
Freshly painting rooms
Professionally cleaning floors and/or carpeting
Replacing outdated light fixtures
Replacing outdated hardware on cabinetry
It’s important that first time home sellers understand the importance of making a great first impression on potential
home buyers. By not properly preparing a home for sale, a first time home seller could potentially be costing
themselves thousands of dollars and also valuable time, in the event their home takes longer to sell.
Hire A Top Producing Listing Agent
First time home sellers need to
understand the importance of having
a top producer representing them
during the sale of their home. Selling
a home is not an easy task, so don’t
attempt to sell your home by owner.
For sale by owners, also known as
FSBOs, have a failure rate of 85%-
95%.
In any given real estate market, there
can be several hundred to several
thousand real estate agents who
have the ability to sell a home. It’s
important that first time home sellers
understand that not all real estate
agents are the equal. Even real
estate agents within the same
company are not equal. Some real
estate agents are part time real
estate agents, some are primarily
buyers agents, and other agents
may only have had their real estate
license for a month or two.
How can a first time home seller
ensure they hire a top producing
listing agent? It’s actually a fairly
simple answer, you know how to
properly interview real estate agents.
A first time home seller who knows
how to properly interview prospective
real estate agents will have a much
greater chance that they hire a top
producer and not a dud.
3. It’s important that first time home
sellers don’t always assume that the
real estate agent who sold them their
home is capable of selling the home.
There are several things that home
sellers should expect from their real
estate agent when selling their
home. Some of the things a top
producing listing agent will provide to
a seller may not be able to be
provided by the buyers agent who
sold them their current home, such
as a comprehensive marketing plan.
Understand Your Local Real
Estate Market
Real estate markets can vary
significantly from one neighborhood
to another. First time home sellers
need to understand what the current
state is of their local real estate
market. Generally speaking there
are three “states” of a real estate
market, a sellers market, a buyers
market, and a balanced market.
Some real estate markets will vary
depending on the time of the year, for
example, typically during the spring
months of April, May, and June, the
Rochester, NY real estate market
experiences a strong sellers market.
Since the spring months are
typically stronger months to sell a
home, many home owners have to
decide whether they should list their
home in the fall and winter months or
wait until spring.
Obviously a sellers market is preferred when selling a home for the first time. A sellers market typically will lead to
lots of demand for a property and the possibility of receiving multiple offers. Before you decide to sell your home for
the first time, it’s important you ask a real estate professional their analysis relating to the current state of the local
market!
Decide What Your Next Move Is
First time home sellers often neglect to figure out what their next move is after selling their current home. Will
you move into an apartment? Will you be buying a new home? Will you be building a new home? It’s important
when selling a home for the first time, you have a strong game plan for your next move.
If the game plan is to purchase another home, a first time home seller needs to determine whether they can get pre-
4. First Time Home Sellers Need To Understand The Importance Of Correctly Pricing Their Home!
approved for a mortgage without being contingent on the sale of their current home. While it’s uncommon in most
cases that a buyer is able to purchase a home without selling their current home, it’s extremely important to know.
Buying and selling a home simultaneously can be tricky and it’s important that a game plan is in place if this your
next move!
Price Your Home Correctly
The number one reason a home
doesn’t sell in real estate is because
the property is incorrectly priced.
There are lots of different reasons
why home owners incorrectly price
their home and it’s important the first
time home sellers don’t make those
common real estate
pricing mistakes.
First time home sellers often have no
clue on how a listing price is
determined in real estate. There are
many different ways a listing price
can be determined and it’s important
that you understand the various
ways. The most common real estate
pricing practice is a comparative
market analysis that is completed by
a real estate professional. A
comparative market analysis, also
commonly referred to as a CMA, can
be summarized as a review of local
active homes for sale, past home
sales, and also past expired listings.
A top producing real estate agent
should be able to determine a
probable sale price of a home by
completing a detailed market
analysis. While a CMA is the most
common way to determine the price
of a home, another accurate way to
produce a listing price of a home is
by having an appraisal completed on
the property.
It’s critical that first time home sellers
avoid some of the inaccurate ways to
price a home, such as using the
homes assessed value or using an
online home valuation estimate, such as Zillow’s “Zestimates.” There is no possible way an online website based out
of San Diego, CA can accurately determine the price of a home in Webster, NY.
Know What Your Closing Expenses Are When Selling Your Home