When you bought your first home, you probably thought that was 'the one' and you'd never move again! Until now, when home values are rising and you need a little more space. As a Seller, you're in the driver seat and can take control of the sale of your home. The choices you make now will be what set the tone, so being prepared will make the process much smoother.
Here's some tips for selling your first home:
- Detach and Declutter: the first thing you want to do is realize that your house, is about to be someone else's home. That disconnection can help you in negotiations too. You'll also want you to declutter and make your home a little less personal. This will help potential buyers visualize themselves in the home. That makes them more likely to buy.
- Price it Right: competitive pricing gives your property exposure to as many potential buyers as possible. That exposure can lead to more interest and multiple offers, especially in today's market. The more interested buyers viewing your home, could drive the price up. If you start too high, you skip all that excitement. Correct pricing also prevents potential appraisal issues that could come up once you have an offer accepted.
- Stage: If you are living in your home, staging it means things are clean and tidy. All the beds are made, the house is at the most presentable level possible. If you're moving out of the house, that means we bring in furniture and other items to stage the house. It still conveys the 'homey' feeling without a family being in the home.
- Be Ready for Showings: When you list your home for sale, you want to make it as easy as possible for agents to show the house. However, it's still your home and you may have kids and pets. So, have a conversation with your REALTOR® about when you want the house available for showings. You will also want to think about open houses and what you expect with those events. Knowing how you will handle showings and when they'll happen will take some stress out of the process.
- Minor Adjustments and Repairs: your REALTOR® may suggest a couple of items to repair or fix to make the house as desirable as possible. The home's systems and appliances should be working. Touching up paint or cleaning windows, helps make the property stand out, and more likely to be considered as desirable by buyers. Some repairs will also alleviate inspection issues down the road too.
- Time to Negotiate: when an offer comes in, you need to be ready to make a deal. You are in the driver seat and can decide what you will or won't accept. However, just like any other deal, you have to be willing to negotiate and work to make the best deal happen. Focus on what is important to you, such as sales price, timing, repairs, and minimal concessions. Whatever it is, know that you'll have to make some adjustments to hit your ultimate goal.
- Get to Close of Escrow: once you've agreed upon a price and terms, it's time to close. After the buyer does a home inspection, they may ask you to make repairs to items found in the inspection. So be prepare, and don't take this part of the process personally. If the buyer is financing their purchase, your home will need an appraisal. This is another area that could be open to negotiating your sales price. If the appraisal meet the sales price, the deal moves closer to completion. Just be patient!
- Find a Good REALTOR®: A licensed, full-time real estate agent will give you the representation you deserve. In a competitive market, negotiations matter, so choose an agent that can negotiate for you. Ask them about what they have negotiated for past seller clients. If they can give you more information, they may be able to produce the results you want. (Ask us!) Professional photos of your home to be displayed on the internet will give your house the exposure it needs to sell. If the REALTOR® you are thinking of hiring is not offering this service, you are want to consider a second option.
Today's market is competitive, and with the lack of available homes for sale, this creates what we call a "sellers market." Now is a great time to think about your options when it comes to selling. Especially if you bought during the downturn, you may have a lot of equity, and we can help you cash out, and upgrade your living condition. If you need more space, or maybe even less space, or just a change of address - it's a great time to take advantage of the opportunities available.
Knowing the process is half the battle because then, you'll know what to expect. After that, it's just about working to get you the best deal that accomplishes your financial goals.
If you have any questions email me at Kyle@teamclayton.com or connect with me on Facebook!