Real Estate Tips for a First-Time Home Seller |

Financial|Real Estate

Real Estate Tips for a First-Time Home Seller

While buying a home often revolves around emotions, and how the house “feels” as a home. Selling should be detached as much as possible from that emotional aspect so that it can maximize the profit potential of the seller. These tips will apply to anyone putting a home on the market for the first time, as well as anyone who may need a quick review of some best practices.

1.   Make Sure You Have An Accurate Price Listed

This is one of the areas where having an experienced and reputable agent can help you immensely. Particularly one that has already had success in your general neighborhood. Make sure that they will perform a comparative market analysis for you. This should help you set your price as high as possible while not deterring offers or needing to reduce your price.

2.   Staging Can Add Incredible Value

Get advice from your agent on prepping for the sale. Many homes can benefit greatly from being professionally staged prior to an open house. Most homes show better and get more positive results from having about half of the furniture removed before showings. Professional home staging can add significant leverage for appeal and selling power.

3.   Stay Flexible With Showings

You may have to have several showings, so if they are too much of an imposition, or if watching someone tour your home seems weird, consider just not being around for the first weekend your home is on the market. This will allow your agent to show your home at times that work best for the prospective buyers.

4.   Host An Open House For Potential Home Buyers

If you have had your home staged, you may get noticeable benefits from hosting an open house. Your agent will know if this will be a viable option for your home. Some homes may not be conducive due to traffic patterns in the area, or even the home layout.

If there is a reasonable expectation of a benefit from the open house, put signage nearby, preferably on the main road likely to draw in viewers from the traffic. Sometimes all someone needs to know your house is the one, is to walk through it.

5.   Get The Commission Details

Don’t hire an agent purely based on a cheap commission. Many times the agents who offer a reasonable standard commission should be seriously considered. Don’t expect a cheap agent to give your listing the full service and attention it deserves. Likewise, be sure that the agent you do go with has a proven track record of selling homes, and of the sellers being satisfied.

6.   Respond Quickly To Home Buyers

If you’re putting in serious effort to sell your home, make sure you put in serious effort to respond to offers. It’s not uncommon for purchase offers to expire relatively quickly. Even if they don’t, prospective buyers will not appreciate waiting for the acceptance of their offer, or possibly even more frustrating, a counteroffer. Responding the same day, or within 24 hours, is ideal.