Selling your most important asset in the world is never easy, but going through the process for the very first time can be a bit overwhelming and difficult to process.
But selling your family home doesn’t have to be this way.
As a first time home seller, there are many things you can do to ease the stress of the situation. While it may be the first time you’re going through the process, that doesn’t mean it needs to be overly difficult.
Here are a few tips that will help you better manage the task of selling your home.
Tip #1 – Hire the Right Realtor. This is certainly our first tip and it’s probably the most important one on our list. Selling a home is never easy, so the importance of having the right person by your side during the process is incredibly important.
You want to search for someone who’s considered a top producing listing agent, which may or may not be the agent who sold you the home you’re now trying to sell.
All agents are not equal, and some thrive in situations where others may not. So find an agent who has a great deal of experience listing and selling homes in your area.
Tip # 2 – Prepare Your Home for Sale. You can’t just put a “For Sale” sign in the front yard and expect your home to sell overnight, though in this market it certainly could.
By hiring the right Realtor, as mentioned above, you’ll already have someone on your team who can guide you in preparing your home for sale. But, in reality, you can begin this process on your own before ever hiring an agent.
This includes taking care of relatively smalls tasks like painting the walls, having your carpets and floors cleaned and decluttering the different areas of your home.
Your agent can also help you with larger tasks, before people begin viewing your home and before any type of home inspection takes place.
Tip #3 – Price Your Home Correctly. If a home doesn’t sell within a reasonable amount of time, it’s usually because it isn’t priced correctly.
And as with tip number 2 above, this is where tip number 1 comes into play. Take your agent’s advice in regards to pricing, as he or she definitely knows the local market and what a fair price is for your home.
Do a detailed market analysis with your Realtor and even have an appraisal done on the property to verify your feelings, but don’t hurt your chances of a sale because the price is scaring potential buyers away.
Tip #4 – Know Your Local Market. Especially in a resort area, the strength of your local market can vary depending on the time of year.
The general economy also plays a big role, as do other factors like job opportunities, how good the local schools are and many more. You also need to be aware of if you’re trying to sell in a seller’s market or a buyer’s market, and talk with your Realtor about what your best course of action is moving forward.
It’s also a good idea to ask your agent for his or her analysis relating to the current state of your local real estate market.
Tip # 5 – Plan Ahead. You don’t know how long it’s going to take to sell your current home, but you definitely want to plan ahead for the time when this does occur.
Will you be moving into a rental property after the sale? Are you building a new home? Are you moving outside of the area?
These are all things you need to decide before selling the home where you and your family currently live.
Tip #6 – Be Aware of Closing Costs. You don’t want to be caught off guard at the settlement table, so be sure you’ve spoken with your Realtor ahead of time and are aware of what you’re going to be responsible for at the end of the process.
You know what you’re going to be paying in real estate commissions, for example, but you may not be aware of other fees that you’re going to need to pay.
For example, in the state of Delaware, where the Oldfather Group is headquartered, there are transfer taxes that are split 50/50 between the buyer and the seller at settlement.
Our agents will always make sure you’re aware of these taxes up front, but not all do, so be sure to ask early on about closing costs.
If you’re a first time home seller, call the Oldfather Group today at 302-260-2000 and speak to one of the coastal region’s most successful and highly trained real estate agents.
We know selling your home can be a stressful time, and we’d love to go through the process with you and help set your mind at ease.