Have you been thinking, "I want to sell my house, but where do I start?" If so, you’re not alone. The typical seller lives in their home for 12 years before putting it up for sale, and they spend an average of about three to four months thinking about listing their home before taking action., according aGroup Consumer Housing Trends Report 2024.
Perhaps you're thinking about selling your home because you need more space, you're ready to downsize, or you're relocating for school or employment reasons. Whatever your reason, it's important to be prepared for the sale process. It can be both emotional and stressful, especially for first-time home sellers — you may have an attachment to your home, and it's likely your biggest investment.
As a first-time home seller, you have the advantage of having already gone through a real estate transaction when you bought the home. As the seller, prep work is required, too, but a different type — you'll spend your time getting your house looking its best for potential buyers, and you may also be buying and selling at the
same time.
First-time home seller guide
These 11 steps include some of our best tips for selling your home.
Identify your motivation for selling
Ask friends, co workers and neighbors for a good Realtor.
Research the best time to sell in your area
Complete home improvements
Price your home competitively
Stage your house to sell
Market your listing effectively
Add a 3D home tour or interactive tour
Watch for closing hurdles
Move out
Fulfill closing obligations
1. Identify your motivation for selling
Spend some time exploring your reasons for selling. The process is often arduous and expensive, so make sure you're certain you want to sell before you get too far into it.
Address finances: Check your remaining mortgage balance online. It's your first step toward understanding how much equity you'll have when you sell, which can help you plan for your next home purchase.
Calculate how much you could make when selling: Once you know what your financial picture looks like. Plug in information like how much you want to sell for and how much is left on your mortgage, then you’ll see how much money you may have after the deal is done. (Keep in mind this calculator doesn’t account for any capital gains liability.)
Make a list of non-negotiables: Jot down your must-haves and dealbreakers. What's your time frame to move? What's your budget for pre-listing home improvements? What's the minimum sale price you will accept?
2. Research the best time to sell in your area
Understanding the state of your local real estate market — including whether you're in a buyers or sellers market — can help you identify the best time to sell. If you have flexibility in your timing, you might consider waiting for a sellers market, which occurs when there are more buyers searching for homes than there are homes available. It gives sellers the negotiation power and can drive up prices.
The best time to list is the last two weeks of May. Homes listed in that window sold for 1.6% more, or about $5,600 on a typical home.
This selling window can vary based on your local real estate market, so check out your Zillow Owner Dashboard to learn which month is the best time to list in your local area. Your Owner Dashboard (which can be accessed after claiming your home), also shows your home's selling price now, compared to the ideal selling month, and it's based on seasonal sales patterns in your area.
If you’ll be selling and buying a home at the same time:
It can be complicated to look for a new home while you’re trying to sell your current one. Odds are you won’t close both deals at the perfect time so you can move out of one and into the other immediately. You’ll have to decide whether you’re trying to sell or buy first. There are pros and cons for each route, so you should choose whichever works best for you.
3. Commit to a representation strategy
One of the first things you'll need to decide is if you're going to sell your house on your own (which is called 'for sale by owner' or 'FSBO') or if you're going to use a real estate agent. In 2024, just 7% of sellers who reported selling in the past year sold their home without ever engaging an agent.
Consider the pros and cons of each option, including how quickly you need to sell, the temperature of your local market, and any challenging features of your home that may require expertise in negotiations.
If you plan to hire an agent:
Ask for referrals.
Interview each potential agent.
Don't hesitate to negotiate your contract.
Trust your agent's home-selling advice.
4. Complete home improvements
Preparing to sell your home typically takes some work, whether that's your own sweat equity or some professional improvements. After all, you want buyers to fall in love with your home, like you did when you first bought it. Spend some time getting your home move-in ready, in a way that will appeal to the broadest range of potential buyers.
Most sellers (72%) complete at least one improvement project as part of selling their home, whether that be painting, remodeling a kitchen or bath or buying new appliances. Earlier research from 2022 showed the typical amount spent on improvements before selling was $5,400. Any upgrades you decide to make will probably depend on the condition of your home and what buyers in your area are looking for. Your real estate agent can be a big help in identifying the items that should be on your to-do list. Whatever you decide to do, here are a few tips for home improvements.
Opt for a pre-inspection: While it's likely that your buyer will do an inspection as part of the purchase process, sellers can opt to do their own pre-inspection. Why? A pre-inspection can help you avoid surprises down the road and gives you a chance to fix the items that an inspector would flag for a buyer.
Increase ROI with popular improvements: Consider adding some of the home features that today's buyers love, like an outdoor TV, pizza oven, or bluestone patio.
Don't forget curb appeal: To make that all-important first impression, spend some time working on curb appeal. Power wash driveways and sidewalks, add some seasonal plants to pots and garden beds, cut back overgrown plants and rake leaves.
Avoid improvements by selling as-is: While you may pocket less money in the end, selling a home as-is, without completing any major improvements, can help speed up your overall sale process and limit upfront out-of-pocket costs.
5. Price your home competitively
Finding the right listing price for your home can be a challenge, but it's one of the most important factors in a successful home sale. Homes that are accurately priced are more likely to sell in a timely manner.
Research comparables: Also known as 'comps,' comparables are records of recent homes that have sold. It's important that the comps you use as reference are of a similar size and condition as yours, and in a very similar area — the closer to your home, the better.
Lean on your agent: Your real estate agent should be an expert in home values in your area, so they're a great resource for finding the right listing price. Plus, they can provide guidance on a pricing strategy that will spark the most interest — and maybe even inspire a bidding war.
6. Stage your house to sell
Preparing your home to sell should also include arranging your furniture, organizing and decorating in a way that appeals to the widest range of potential buyers.
Staging your home can take many different forms and require varying levels of effort, but here are a few key tips:
Declutter, clean and depersonalize: Too much stuff in a room can make your home feel small, crowded and lacking in storage. And having too many personal items, like family photos, can make it hard for buyers to picture themselves living in the home.
Select a staging plan that fits your needs: There are multiple degrees of home staging to choose from, based on your budget, timeline and how valuable staging is in your local area. Some staging can be done in a DIY manner, while other larger staging projects are typically completed by a professional.
Pare down pets' and kids' belongings: While many buyers are pet owners or parents of young kids, they want to visualize their own families in the home, not yours. Take the time to repair pet damage, remove pets' belongings, and clear away kids' items like gates, high chairs, and piles of toys.
7. Market your listing effectively
Once your home is ready for buyers, the next step is getting your listing in front of as many buyers as possible. Here are some tips for how to list a home for sale.
Lean on your agent for expertise: A great seller’s agent should know how to best market your home. That can include listing your home publicly so it gets seen by as many buyers as possible, and it can also mean setting up and hosting open houses to attract even more potential buyers, to name a few strategies. Ask your agent how they plan to market your home.
Advertise across multiple channels: Today's home buyers search for homes in many ways, from surfing online listings to looking for ‘for sale’ or ‘open house’ signs in front yards. The more places your listing shows up, the more buyers will see it — and the more likely you are to find a buyer.
Invest in professional marketing photos: With the majority of buyers (and their agents) searching online, the MLS or Zillow listing is your home's first impression, and professional photos can go a long way toward making your home stand out. Make sure the photos are realistic and high-quality. You might even consider doing a video tour.
In our 25 years, we have learned how to market, negotiate and close our clients homes in around 30 days or less, no matter the market and get them around 98% of the asking price which is 1% the normal MLS stat. That could mean thousands more in your pocket! We get it...its your time and money!
Comments(1)