Selling a home takes time and requires a lot of work. The journey to closing the deal is not an easy one. You will have to face a lot of hurdles on the way.
In this article, we will walk you through some approaches that you can follow if you are a first-time seller.
Are you planning on selling your home for the first time? We can help. Our team has years of experience in helping buyers and sellers get the best deal.
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Do you need an agent?
Being a first-time home seller, don’t try to sell your home on your own as you are doing it for the first time. (But if you are ready to take the risk, as they say, there is a first time for everything. You may go ahead and sell it on your own.)
When hiring a real estate agent, remember you’d owe them a commission. However, if you are hiring a competent agent, they will help you list your home at a fair selling price. Real estate agents know what to do exactly to increase your odds of locking the deal sooner. A competent agent knows how to zero in on qualifying buyers while eliminating tire kickers (who have no intention of buying your home).
Experienced agents know the market inside-out. So they can easily handle the negotiation and help you get more money on your home than if you were trying to sell your home on your own. Besides, if anything happens during the process, an experienced agent knows how to take care of it.
As it is your first time selling a home, you might be unfamiliar with the paperwork. However, an experienced agent is familiar with the paperwork and will be able to manage any pitfalls that might arise in the transactions. The agent will help you lock a fair deal without any hassles.
If you think that you don’t need an agent, let us find out what you can do on your own.
Don’t worry, you can still manage the process without hiring an agent. Many people have successfully locked deals, and you can too.
Start researching properties that were sold, in recent times, in your neighborhood. The research will help you determine the current prices. (You need to understand that these home prices have factored in an agent’s commission as well, which you cannot include in your price.)
Include your home on the multiple listing services in your area to increase your reach to potential buyers. Keep in mind that showing the house could get stressful as it is time-consuming, and you will have to do all the negotiations because you are on your own here.
Hire a real estate attorney to help you with the escrow process and other transactions, as you have decided to forgo an agent.
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Are you hiding any problems?
Most first-time sellers make the mistake of hiding major problems from their buyers. You can’t get away from hiding these problems on your property. Most buyers tend to initiate an inspection before they close the deal, and any problems that you are hiding are likely to be uncovered during the inspection.
In case your house has a major problem, get it fixed. Or you can price your home below the market value. You can also offer credit to your buyer so that they can fix the problem.
If you are uncertain of any existing problems in your home, get your home inspected before your list it.
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Is your home ready for sale?
One of the most important steps before you stage your home for sale is to clean it up. When you fail to clean your home, you are automatically reducing your sales price, which will even prevent your home from getting any sale at all.
Also, examine your home for minor issues before you sign the contract. If the buyer finds any minor issues, they might think that there might be bigger issues that you are hiding, and they might back off from the deal, citing non-disclosure of the problems, which is an offense.
Clean your home thoroughly (paint the walls) to impress your buyers.
Remember to accommodate your buyers whenever they reach out, regardless of the inconveniences it might cause you. Always keep your home clean and tidy.
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How good are your listing photos?
Everything happens online these days. Real estate is no different. Potential buyers will go through your home online before they visit you. If you have some good photos (taken during the day with plenty of natural light), showcasing your home’s assets in all their grandeur, it will give your potential buyers an idea of what your home looks like. If you are not good at photography, you can always hire a professional photographer to capture some good images.
Now that you have decided to hire a professional photographer, you can also include a 360-degree view (video) of your home in the listing. You can even use your smartphone to record the video.
Closing thoughts
Your buyers will negotiate.
Sellers always list their homes at a price that attracts buyers. However, you need to leave some room for negotiations. A lot of factors, including the pricing strategy, the market value, and the condition of your home, will determine the final price of your home.
Are you planning to buy a new home in Lincoln? Our team of experts can help. Reach out to our team at Location Lincoln today.
