Selling your very first home can be an emotional time for you. After all, it’s the first property you owned, and it is a place where you have built memories. Parting with your home may be a bit of a challenge, but so can the real estate process if not done right and with the proper team.
The truth is, the process of selling your first home does not have to be overly stressful or difficult. You can get through the process if you take the right steps and make the right decisions. Here are some tips to help make selling your first home a success.
Tips for Selling: #1 Price it Right from the Start
Perhaps the most important aspect of selling is determining the right listing price. Every seller wants to get the most money for their home, but that doesn’t mean they will be able to find a buyer who is willing to pay that price. At the end of the day, your home is only worth what buyers in the area are willing to pay for it. Price too high, and you’ll scare off buyers and cause your listing to become stale without an offer.
Real estate professionals will be able to help you determine the right price by analyzing similar homes in the area that have recently sold. This will provide an accurate picture of the price point that you should be focusing on.
Tips for Selling: #2 Target the Right Buyers
Marketing is a key component to the selling process. The more avenues you take to market your property, the better. However, not only are the methods that you choose to market your property important, so is the pool of buyers that you choose to target. You need to think about how you will reach your home’s target market. Consider who the most likely buyers are for your home and what you’re selling, and take the steps necessary to cater to that specific group.
For instance, if most buyers in the area are young families with children, market to them accordingly. On the other hand, if the target in your area is young single professionals, tweak your marketing efforts to attract these people instead.
Tips for Selling: #3 Have Your Home Professionally Staged
Most buyers are unable to see the true potential of a home if it is not presented accordingly. By showcasing your home in the best light possible, you can appeal to the masses of buyers out there and draw in an offer sooner.
Staging is a multi-step process that involves several steps. For starters, de-cluttering your home is an essential first step. No one wants to walk through a home that’s covered in filth and junk everywhere. Another important step is depersonalizing the home. For the most part, take down your family photos or any religious or political artifacts, and replace them with something more neutral, which takes us to our next point.
Neutralize the home as much as possible by painting over any bright walls with a more neutral tone and remove any area rugs that are far too eclectic in colour. Finally, the home should be properly furnished to maximize flow and functionality while showcasing exactly how each space is intended to be used.
Tips for Selling: #4 Upgrade Accordingly
There may be certain components in your home that could use an update to impress buyers and prevent them from being turned off by negative aspects. Whether it’s chipped tiles, rusty kitchen handles, a cracked window, or scuff marks on the walls, these minor things can be fixed in a cost-effective manner and will help dramatically improve the look of your home. At the very least, consider repainting your home to give it a fresh new look.
Tips for Selling: #5 Hire a Real Estate Professional
Forget the FSBO route when it comes time to sell, especially if this is your first sale. Having a professional real estate agent help you navigate the potentially tricky waters of selling property can help alleviate any headaches you would otherwise suffer from, and help you avoid making any costly mistakes.
These professionals will help you price your home right by investigating other similar homes in the area that have recently sold, as well as market your home across a vast number of platforms to draw in as much attention as possible. They will use their negotiating skills on your behalf to get the highest price possible and will help you prepare a contract that will keep you protected.
When it comes times for you to sell your first home, be sure to hire a professional and experienced real estate agent to keep your best interests in mind throughout the entire process!