Homeowners don't generally think about filling the shoes of a first-time home seller until they decide to buy a new home. Usually, the motivating factor is the need to move - due to work-related issues or the needs of a growing family -- and that generally involves buying another house. It's when the homeowners stop to consider the move that it may dawn on them, yes, because they need to sell, they are now a first-time home seller.
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Selling a home is very different from buying a home. Whereas buying a home generally involves emotions and feelings, selling a home typically centers on what listing agents like to call maximizing profit potential.
Here are the key steps to keep in mind as a first-time homeseller to sell your home fast and for top-dollar:
1. Price Your Home Accurately
To price your home accurately you need the assistance of a reputable Listing Agent. This is not the time to choose your cousin's sister-in-law, for example, who dabbles in real estate. You'll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighborhood.
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Your Agent will analyze comparable sales and prepare an estimate of value often called a CMA, for comparative market analysis. It is OK to use real estate websites to get an idea of this figure, but you’ll soon learn the variances your agent will point out because your they have the experience and education to provide you with a more accurate opinion of value.
2. Prepare Your Home For Sale
Ask your Listing Agent to advise you on preparing your home for sale. Most homes show better with about half of the furniture removed. If a buyer walks in the door and wonders if anybody lives in the house, you've done your job correctly. Consider home staging to boost your selling power and appeal.
Painting is the single most effective improvement you can make. Don't let dings in the woodwork or scraps on the walls make your home reflect deferred maintenance.
3. Be Flexible with Showings
If home showings are too much of an imposition, consider going away the first weekend your home is on the market. Yes, it can feel a bit intrusive to allow strangers to trek through your home and check out your soft-closing drawers in the kitchen. The best way to sell your home is to let a buyer inside with her buyer's agent to tour in peace and quiet.
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Leave the house when buyer's agents show up. Anything you say can and will be used against you, plus, buyer's agents prefer to show without interference.
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4. Allow An Open House
Not every home is a viable candidate for an open house. If your home is located in an area close to major traffic, that is generally indicative of a reasonable expectation that the open house signs will pull in visitors.
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Ask your Listing Agent if they advertise the open houses online. Many a home buyer has had no desire to buy a home until she spots an open house and subsequently falls in love.
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5. Insist On Professional Photography
Of course, if you have hired a top-notch Listing Agent, your agent most likely already provides professional photos. It's not enough to just get the angle right in the photo, the most popular photos are rich in color and depth, and they entice. Ask to see the virtual tour or photo tour before it publishes.
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6. Review Your Listing Online
Look at your home listing on various websites to make sure the information conveyed is accurate. Agents do their best to ensure accuracy, but since it is your home, you know the details better than anyone. If you spot a feature that is missing, contact your agent and ask for an inclusion.
7. Try to Respond Promptly to A Purchase Offer
Many offers contain a date by which the offer expires. Notwithstanding, it can drive buyers crazy if they are forced to wait for a seller to decide whether to accept their offer or to issue a counter offer. Remember, if you are selling because you need to buy a new home, you are no different when you are a home buyer yourself.
8. Line Up Your Movers Early
If you are thinking about moving during the summer, for example, which is a very busy time of year for movers, you might find it is impossible to locate movers for the day you want. You can start packing before your home hits the market, which will give you a head start on the process. It will also give you peace of mind to be prepared. Selling can be stressful enough.
Are you a first-time home seller? What tips do you have to add to our list? Sound off on the Shannon McCarthy Team Facebook Page or our Twitter, LinkedIn or Instagram feeds. And don’t forget to subscribe to our monthly HOME ADVICE email newsletter for articles like this delivered straight to your inbox. You may unsubscribe at any time.