After becoming familiar with the real estate process of buying a home, now you’re ready to learn how things are on the other side of the negotiation table. From properly staging your home to knowing its fair market value, you can sell your property quickly and at the price you want when you do things right.
Here are tips for selling your home for the first time:
Do your research
Trends in the housing market of your area may have already changed drastically since you last engaged in it as a homebuyer. Thus, it’s a good idea to brush up on your knowledge of the current real estate market trends.
In further understanding the real estate market conditions in your area, consider looking into comparable sales, or “comps.” These are properties in your locality that are similar in size, condition, and age as yours. This will give you an idea of how much your property would likely go for.
Give your home a competitive price
Pricing your home right is imperative to getting the results you want from the sale. Price it too high and you’ll lose buyers. Price it too low and you’ll end up with losses instead of profits from your home’s sale.
There is no truth to the belief that you can overprice your home in a low-inventory market. It will only hurt your chances of selling your home fast. Soon, you will have to adjust your selling price as your listing struggles in the market. And even if you already provide a more competitive price, buyers will be suspicious as to why your home is taking too long getting sold.
Pick the right time to sell
Know that perfect timing is also crucial to a successful home sale. According to Realtor.com, early April is generally the best time to sell. However, different locations may have different ideal selling conditions. Find out the months when there are lots of homes available for sale in your area and when there’s little inventory available. Let supply and demand dictate the month you choose to sell your home in.
Ready your home for selling
First impressions last and you will want to get your home in tip-top condition before putting it up it for sale. Take the time to complete certain repairs. Make sure that the electrical, plumbing, drainage, and other systems are working properly. Clean the home from top to bottom and keep the rooms looking tidy and organized.
Prepping your home for sale not only lets you leave a good impression, but it will also help your property attract more attention, both online and off. This will ultimately lead to a lot of good offers for you to choose from.
Depersonalize your home
Aside from cleaning, decluttering, and making repairs, stage your home in a way that buyers can imagine themselves living there. This means putting away any personal effects such as photo albums, collectibles, items relating to political or religious affiliations, and similar items. Use neutral colors then add some décor to use as accent pieces or as color bursts for your interiors.
Market your home
Home sellers today face fiercer competition. You will need to learn how to make your home stand out to generate buyers’ interest. Some popular strategies include making videos and/or 360-degree virtual tours, as well as having high-resolution pictures taken by professional photographers.
Good marketing may not sell your house but it can entice more buyers toward it. Ultimately, you boost your chances of selling your home.
Work on your negotiating skills
The process of selling a house involves a substantial amount of money, so learn the fine art of negotiation. Better yet, ask for the help of an astute real estate agent who can hold the fort for their client at the negotiation table. Once a buyer gives you an offer, negotiate with counteroffers and find ways to sweeten the deal with alternatives to get the price you want. Communication and concessions can go a long way in advancing price negotiations for your home.
Partner with the right real estate agent
Your time as a home buyer made you aware of the many complicated and time-consuming aspects of a real estate transaction. But when you have a good agent by your side, they can guide you through the motions effectively and help you achieve the best deals possible. Get your real estate agent involved in the early stages of your home selling journey. That way, you can be presented with a good number of options on the steps you have to take toward closing that deal and making a profit.