First Time Home Seller

Details: Category: Demo content; Published on Tuesday, 02 April 2013 20:48; Written by Super User; Hits: 8506

First Time Home Seller?

Selling your home can seem very daunting: You haven't sold a home before, the market looks complex, and what worked for owners 10 or 20 years ago seems inappropriate in todayâ€™s market.

What steps should you take? This simple list will get you started.

You Can Do It. Some 5.63 million existing homes were sold in 2007, more than 15,000 a day. Other owners have done it and so can you.

Define Your Goal. Do you want the highest sales price -- or the biggest check at closing? They're not necessarily the same. Imagine that two homes sell for $300,000, but one owner pays 2 points and agrees to replace the roof. The owner who sold without such costs got a bigger check at settlement. The bottom line: To have a successful sale you need to look at both price and terms -- you must have a strong negotiator in your corner.

Times Have Changed. Today's real estate marketplace is totally different when compared with 5 years ago. Purchasers now use the Internet, receive seller disclosure forms, get home inspections, and are routinely represented by buyer agents. The result is that buyers can be better prepared than in the past.

Sparkle, Shine and Curb Appeal. Think about going to a supermarket and seeing dusty fruit or aisles filled with old shelving and cans. It doesn't happen because the grocery store knows how to present its goods. Sellers must do the same. Get rid of things you don't want to move, organize closets and storage areas, and clean everywhere. Does your home look inviting and appealing from the street? If not - it is in your best interest to make sure that the outside is clean and well kept. Trim shrubs, paint your mail box and shutters and make sure the lawn is mowed.

Mechanics Count. Buyers expect everything to work. Home inspections are now entirely common and what buyers miss home inspectors will catch. Fix and paint things now and they won't be an issue in the future.

Stage your home. When buyers see your home, it's showtime. They want an environment where they can see themselves. De-clutter and hide knick knacks that will distract them from their dreams. Given them a show where everything is painted, arranged, and attractive, a home where the only issue is when to move in.

Know your market. Real estate is local. Your broker can explain current market trends in your community, including what's selling, what isn't selling, and why. This information is critical to getting the optimal price and terms.

Know the competition. Your property will be competing with other homes in your area for buyer attention. Ask your broker how to be competitive -- and how to have an edge.

Be realistic. Markets differ by neighborhood location and time. When interest rates are low and the local job base is growing, it's great to be a seller. But when times are slack and mortgage rates are rising, homes also sell. The trick is to be realistic, to get as much as market conditions will allow.

Have a plan. Real estate marketing involves far more than a sign in the yard and an ad in the paper. Todayâ€™s successful brokers use a variety of methods to attract and qualify prospects, including the latest Internet and Website communication tools.