Are you thinking of selling your first home? There’s a lot that goes into selling a home, and it might seem like a pretty overwhelming process if you’ve never done it before. If you’re not properly prepared or not working with the right agent, selling a home can get pretty hairy… but it definitely doesn’t have to be!
Here are five things you need to know about selling your first home.
It Pays to Be Prepared
Before you stick a for sale sign in the yard, take some time to give your home some love and get it looking its very best. That doesn’t mean major renovations—but maybe some minor improvements or updates, like painting, professional cleaning, or replacing outdated hardware or light fixtures.
Whether or not you decide to do any updates to your home, you will definitely want to spend some time decluttering and cleaning in the very least. Even just a little time and elbow grease can pay off big when it comes to selling.
It Pays to Use an Agent, Too
Many sellers, in hopes of saving money on agent commission fees, opt to forego using an agent and sell “For Sale by Owner” or FSBO. This might seem pretty smart at first, but it can actually end up costing a lot more in the long run. In fact, the National Association of Realtors® found that homes listed FSBO sold on average for $65,500 less than those listed by agents.
That’s way more money lost than you pay in agent commission!
Accurate Pricing is Crucial
One of the most important things you can understand when selling a home is that the value of your home is determined 100% by the market—namely, by buyers—not by you. In short, your home is worth only as much as a buyer is willing to pay for it, and trying to list at a higher price is only going to hurt your sale.
How do you find that perfect price, one that will appeal to buyers but will also make your wallet happy? The best way is to ask an experienced local agent. Not only can they analyze market data (as could a site like Zillow or Trulia), they have direct experience working in your area and know firsthand what your buyers are actually looking for—and paying.
Staging & Professional Photography Wow Buyers
If you really want to WOW your buyers, then professional staging and photography are must-haves. Staging might include things like removing (or adding) furniture, setting dining tables, adding center or accent pieces, removing personal decor, painting, and more. Add in some professional photography and you’ll be wowing buyers before they even leave their couch!
Open Houses Get the Word Out
Want to show your home to a bunch of buyers all at once? Consider an open house. Open houses have a few appeals. They get a bunch of buyers into your home at one time (rather than having to prepare for several showings). They also tempt buyers who might not be serious or actively searching—but who might become serious or even tell friends or relatives who are looking. In short, they get the word out to a wide range of people.
Flexibility with Showings is Key
If you want buyers to fall in love with your home, you’ve got to get them into your home first. And that’s hard to do if you only allow showings to be scheduled during specific windows of time. Instead, try to be as flexible as possible, even if it means you have to step out for an impromptu walk to give buyers a chance to see your home.
Thinking of Selling a Home in the Baltimore Area?
Are you thinking of selling a home in the Baltimore area? Then it’s time to contact me, Kyle McCarthy. I’m here to help you find the right price for your home, get it ready, and list it… without all the hassle.