At one time you were a “first time home buyer”, but if you are now ready to take the next big step and sell your first home, congratulations! This is an exciting new chapter in your life. To make sure that you are prepared for this new experience here are some first time home seller tips.
Make Your Home Move-In Ready
Have a thorough walk around your home and see what needs sprucing up. Chances are, if you notice it – a homebuyer will as well. Things that you can fix on your own are ripped screens, cracked baseboards, scuffed floors. If you have leaky faucets bring in a professional to ensure all your taps are running smoothly. Also, a fresh coat of paint is a first time home seller’s dream project – it is relatively affordable to do and yields a great return on investment.
Enlist a Real Estate Agent You Can Trust
Some people hire real estate agents through a referral of a family member or friend. While this can be a good idea, the best recommendation is to see whom your neighbours have been listing with. An agent who does a lot of business in your neighbourhood becomes an expert in that area and will know how to market your home better than someone who lives on the other side of town.
Price Your Home Fairly
While your real estate agent will help guide you by providing a list price they think is fair for your property, ultimately it is your decision what price the property goes to market with. If you price too high, fewer people will come to see the property and you will struggle to sell it. You may have a sentimental attachment to your home or think it is worth more than all the other properties in your neighbourhood, but that is not always the case. Sometimes, people opt to undervalue their home in hopes of encouraging a bidding war. This does not always happen, and you can risk intimidating buyers and selling your home for less than what it is worth!
Market Your Home Well
This is something you will do in conjunction with your real estate agent. Your real estate agent will list a variety of ways to market a home such as email broadcasts, open houses, direct mail postcards and plenty more. Have a solid look at how homes in your neighbourhood are being advertised and ask your real estate agent how to ensure your home is a cut above the rest when it comes to marketing.
Make Your Property Available
As a first time home seller, you may have done all the right things while preparing to put your home on the market, but if you are inflexible about when potential homebuyers can view it, you could end up in trouble. Every time you turn down an appointment request or create restrictions on when your home can be shown, you are minimizing the opportunities for your home to be sold. Be as flexible as you can!
Plan Negotiation with Your Agent
There are usually negotiations when it comes to the offer portion of selling your home. Make sure you know what outcome you want in advance so that you do not get caught up in haggling over minor details that could dismantle the entire sale. Talk to your real estate agent about the difference between the final sale price and the final net price. You want to focus on the final net price!
Are you going to be a first time home seller soon? Would you like more advice on the matter? Please feel free to reach out to me here. I would love to make sure you feel as comfortable and knowledgeable about the process as possible.