Tips for First-Time Home Sellers
Selling your first home is exciting and nerve-wracking all at the same time. Buyers have more tools in their toolbelts to quickly and easily compare your home to other homes on the market. How can you make your home stand out from the rest? Let’s take a look at these tips for first-time home sellers:
1) Price your home right, right from the start. The volume of showings should be highest during the first two to three weeks your home is on the market. The majority of buyers hire real estate agents who set them up with automatic home alerts. The minute a home fitting their criteria pops up, they want to see it, especially in our competitive market.
Keep in mind how you price your home. For instance, if you price your home at $176,900, you miss home buyers with a price threshold of $175,000. Consider bumping the price down just a bit to capture the hearts and minds of additional buyers.
2) Study sales prices in your neighborhood, not asking prices. If a neighbor has his/her home listed for $195,000 and it has sat on the market for 9 months, chances are that it isn’t worth $195,000. Instead, opt to price yours in-line with similar homes that have sold within the last 90 to 180 days.
You’ll also want to be a bit flexible. Your house is worth what an able buyer is willing to pay. No more. Your highest offer is almost always the first offer you receive.
3) Choose an agent who uses professional photography. The threshold into a buyer’s heart is the internet. An overwhelming number of home buyers use the internet to begin (and continue) their home search. A well-staged home with professional photography stands tall among the competition.
When interviewing agents, ask to see his or her marketing plan for your home. A qualified agent should be able to provide information on how he or she will market your home to your target audience.
4) Use appliances like your washer, dryer and refrigerator as chips in your negotiation. If you’re close on coming to an agreement with a potential buyer, consider “sweetening the deal” with appliances that are typically considered personal property. A simple gesture like this may increase the likelihood of a full-price offer and make your life easier (no bulky appliances to move).
5) Clear the clutter. The way you show a home and the way you live in a home are vastly different. Consider hiring a stager to provide you with recommendations on what to do to show your home in its best light.
6) Make necessary repairs prior to going on the market. Have a leaky faucet that you’ve been putting off repairing? Now is the time to fix it. Completing obvious (and hidden) repairs will help prospective buyers to see your home in a better light. If issues don’t jump out to a buyer, he or she is also less apt to worry (or complain) about hypothetical conditions.
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