Either you’re looking for the perfect article to avoid making mistakes in selling your home OR it’s your very first time selling your home. For these purposes I’ve tried to be as detailed as possible. Instead of mailing me a million dollar check in the mail to show your appreciation 😉 please share this article (bar on the left) or “like” my page on FB (top right).
It is not easy being a home seller and it is even harder being a first-time seller. There are hundreds of articles out there to help regular home sellers but the same cannot be said for first time home sellers. When a first-time home seller decides to list their home for sale, there is always that moment of confusion where they don’t have any idea where to start their home selling process. It is very important for first-time home sellers to understand what this process entails. Before you go out to sell your home for the first time, it is imperative you consider the following:
1. Be Ready to Sell
Expectations are key in the sales process. When you “decide” to sell, make sure you’re committed. The last thing you want is for hesitation to spoil an offer or result in a lack of offers. The best advice I can give is, don’t sell til you’re REALLY ready, price it right, in it’s best light. Stress and emotion are found all along the way, make sure you’re prepared. An agent of REAL value is a good next step.
2. Choose the Right Agent (Pros & Cons of Hiring an Agent)
Ensure the agent you choose knows your neighborhood well. Another important aspect about your agent is how they do their marketing, make sure they explain their plan well. It is highly advisable you have an agent who also employs technology in their marketing. Most agents today list their properties through social media websites such as Facebook as well as using marketer’s mailers and newspaper adverts. Find out about their experience. They should also be a person whom you can be comfortable with, you’ll be stuck with them for sometime before the home gets sold. Once you get the right person, sign an agreement with them that allows you options if things don’t go well, just in case.
-What to Ask When Signing an Agreement
Selling a home is a #’s game, the more effective your agent is at marketing to the masses the faster it gets sold. Page views are a strong indicator of how quickly a home will sell, another reason why an agent with analytics is a big plus.
3. Marketing Plan
Marketing your home is like any advertisement. There are many levels and laws of attraction that need to be taken advantage of. One common issue is an uncommitted seller, this results in a less than serious agent (why you see so many bad house pictures and it’s occupants dirty laundry,etc.). It’s remarkable to see so many treat a sale so casually. If you were selling a $200,000 car, would you not get it detailed? Would you not get it serviced? As described above, it’s a #’s game IF you’re playing competitively. The market shall have it’s balance in all things, meaning that if the market is red hot you may be able to get away with a jungle yard, but it’ll always come at someone’s expense.
-The REAL Value of Staging
-The REAL Value of a Home Tour
-The Walk-Through Checklist
-What To Do While Waiting For an Offer
4. The Offer Game
Negotiation is an art as you may well know. Too often, sellers sacrifice their bargaining power by giving up their advertised price right away with countering a low offer, usually somewhere in the middle. There are many more ways to stand firm while offering items that may be as much of a ‘win’ for the buyer.
5. Be Competitive with Your Price
Price and size are what most buyers first refine in their search before looking through the pictures. The next is the listing history, if it’s been more than 60 days they start to wonder, “Why is such a cute home still available? There has to be something wrong.” When you do get more serious about pricing and reduce, buyers will end up offering even less. It is usually advisable you price your home competitively at the start. To maximize the benefit of home improvements and staging, you’ll want this time period to be short and quick.
-Pricing: What to do / What NOT to do
6. Be Ready to Move
This is sometimes the main reason why people decide to hold off in selling their home. It’s usually quite a stressful string of events that no one enjoys. An average family of 5 can easily fill a whole semi trailer….or two. When it comes time to move, things “get real” and so does the anxiety. The best way to handle this is to have a detailed plan, have the materials ready, and your moving van ready to go.
-The Cure to the Moving Headache