There are tons of helpful articles and content available for first time home buyers. Unfortunately, the same cannot be said about tips for first time home sellers. There are not nearly as many helpful articles that provide exceptional tips for first time home sellers online.
Why is this? Just like buying a home for the first time, selling a home for the first time often comes with lots of confusion and questions. Many first time home sellers have no idea where to begin and what they should focus on during the sale of their first home.
A first time home seller who doesn't know what tips and advice to follow potentially can end up costing themselves a lot of money. Below are some of the most important tips for first time home sellers that homeowners who will be selling their home need to be aware of!
Preparation Is Key!
One of the biggest mistakes that first time home sellers make is not knowing how to prepare their home and themselves for the market. Not properly preparing a home for sale is a surefire way to make the home selling experience an uphill climb.
Those first time home sellers who are thinking of selling their home during the upcoming spring real estate market need to know what to understand what steps they should take. A seller needs to know how to prepare a home for the spring real estate market since it is so competitive.
5 simple, but important tips for preparing a home include;
- Deep clean carpets and floors
- Paint any rooms that need it
- Consider having the HVAC systems cleaned prior to listing
- Declutter, declutter, declutter
- Clean windows
Hiring A Top Real Estate Agent Is Important!
Whether selling a home for the first time or tenth, hiring a top real estate agent is important. It becomes even more important for a first time home seller because they are often unaware of the process and steps that lead to a successful home sale.
Many first time home sellers don't know what it takes to hire the right real estate agent. The best way a first time home seller can improve the chances they hire a top agent is by knowing how to properly interview prospective real estate agents.
To properly interview prospective real estate agents, a first time home seller needs to know what the top interview questions for real estate agents are. Four of the top questions include;
- Are you a full-time or part-time agent?
- What percentage of homes yearly do you represent the seller?
- How do you plan on marketing my home?
- What methods do you utilize to determine a homes value?
There are literally dozens of questions that first time home sellers should consider asking prospective real estate agents. The above four are just some of the most important!
Pricing It Right Is Vital!
The important of pricing in real estate cannot be stressed enough. First time home sellers need to understand that it's vital to price a home right from the beginning, otherwise, it will not sell.
There are lots of articles and resources available for sellers that explain the importance of pricing a home for sale and also the consequences of overpricing a home. For example, over on List.ly you will find a list of the top articles on pricing a home for sale.
The main takeaway for first time home sellers when discussing the importance of pricing a home right is to understand that todays home buyers are well educated. Since buyers are able to shop online for homes, they are savvy and often have a strong understanding whether a home is overpriced or not. There are lots of buyers who will choose not to look at a home they believe is overpriced!
Know What Is Next!
Another mistake that first time home sellers make is they do not know think about what their next move is enough. Selling a home takes lots of preparation and sometimes can be stressful. The last thing a first time home seller needs is to increase their stress levels because they don't know what their next move is.
Are they relocating to a new area? Are they going to be renting? Are they going to be buying and selling a home at the same time? Are they able to buy a home without selling their current home?
These are just a handful of the most important questions a first time home seller needs to ask themselves before listing their home. Having a well thought out game plan before listing a home for sale can decrease the stress level for a first time home seller significantly.
Understand What Closing Expenses!
One of the biggest misunderstandings that first time home sellers frequently have it regarding the closing expenses. A first time home seller needs to have a strong understanding of the closing expenses they will be responsible for, again, prior to selling their home.
It can be quite a shock for a seller who doesn't know that generally in most cases, they are responsible for paying any brokerage fees. Some of the most common closing expenses that are incurred by a seller include;
- Instrument survey
- State transfer taxes
- Abstract re-date
- Seller concessions, if applicable
- Home warranty, if applicable
An experienced real estate agent will make sure they educate their sellers on the potential closing expenses they will be responsible for, before listing their home.
Selling a home can be stressful and tricky, even for a homeowner who has sold a half dozen homes. First time home sellers who understand what tips and advice to follow when selling their first home greatly increase the odds they have an enjoyable experience.
By following the above 5 fail proof tips for first time home sellers and other guides for first time home sellers, a seller can give themselves a huge advantage over other sellers, even experienced ones. If you're selling your first home, good luck!