You might think selling a home is similar to buying one, but they actually have little in common. Buying a house for the first time is something that many of us look forward to throughout our lives. No matter how much you love your first home, there will likely come a day when you're ready to move on to something new.
Selling your home is a totally different experience from buying a home. Buying a home involves feelings and sentiments, while selling one centers on dollars and cents. However cut and dry the selling experience might seem, there is still a period of confusion involved in the selling process. Many first-time home sellers have no idea where to start. Here are some of the most important tips for first-time home sellers to help you get started.
Just as with buying a home for the first time, you can remove a lot of the mystery from the equation by taking the time to read, study and learn. There's a lot to learn from your real estate agent and other experienced home sellers. Since you're here, it's safe to say you're already taking steps in that direction.
- Set a Reasonable Price
The value of a home is not set in a vacuum, and market factors play an important role in setting the right price. Ask your real estate agent for a comparative market analysis (CMA). A CMA breaks down the value of your home in great detail, along with the market history of homes in your area. Understanding the realities of the local real estate market is crucial in setting a price that is as attractive for buyers as it is for your budget.
- Work with a Trusted Real Estate Agent
Working with a real estate agent you can trust will make life much easier when it's time to sell your home. A skilled agent will help you set the right price, attract the right buyers, and find a deal that works for everyone involved. If you enjoyed working with the agent who helped you purchase the home, now is a great time to rekindle that relationship.
- Major Marketing
Identifying the right buyer is much easier when you do what's necessary to help the right buyer find you. Work with an agent who understands how social media, email marketing, and search engine marketing fit into the modern real estate purchasing process. A bit of targeted marketing is key to reaching the right audience.
- Consider Curb Appeal – No matter how great the interior of your home looks, it's the exterior that makes the first impression. Add curb appeal by updating your landscaping, keeping your yard as clean as possible, and putting a fresh coat of paint on areas that need it. You want them to be impressed from the moment they arrive. Be sure to tidy up and declutter inside too.
- Prepare to Compromise – If you're holding out for the deal that checks every single item on your priority list, you may be in for a long wait. The selling process has the same give-and-take as the buying process, so you may need to compromise in some areas to get what you want in others. Consider the areas where you're willing to compromise as you get started with the process, and you'll be better prepared to make a deal.
One advantage of selling your home for the first time is that you'll likely have experience sitting on the other side of the table as a buyer, so you'll already have some idea of what to expect. With a willingness to keep learning and the help of an experienced real estate agent, you'll be ready to tackle the process of selling your home for the first time.