Buying a home is an exciting time, especially if it’s your first one. There are plenty of resources available on the web for people looking for tips and tricks for the first time homebuyer. But what about the first-time home seller? Selling your home for the first time is just as important and emotional as when you initially bought it. It can also be just as tricky and complicated maneuvering through the need-to-knows and the need-to-dos.
Having helped numerous homeowners list their house for the first time, award-winning St. George real estate agent, Ted Payne offers a few tidbits and pieces of advice.
Backseat Your Emotions
Whether you bought the home 2 years ago or 20 years ago, you have made memories that will last a lifetime. From hosting Thanksgiving dinner to bringing home your first baby, there’s no denying how important those four walls have meant to you. Saying goodbye will not be easy. However, bringing those emotions into the selling process can greatly hinder your decision making, pricing, and seeing clearly during negotiations. It’s ok to be emotional, but put your emotions on the backburner until all necessary parts of the home selling process are complete.
Price Realistically
Many people who are selling their home for the first time lack the complete understanding of the housing market. All they have to base their opinions of the housing market on are the news and Google search results. This can pose a problem because, without a clear understanding of the market, you may overprice your home with the expectation of receiving top dollar and be grossly disappointed otherwise. When it comes to pricing your home, you want to find that sweet spot between realistic and competitive.
Be Ready to Sell
Making sure that you are ready to sell your home is more than being emotionally prepared and kissing that great backyard goodbye. It means guaranteeing that your home is ready to be sold. Years of living can cause unexpected wear and tear on a home. Walk through your home as if you were a potential buyer and pick apart the aspects that you know need to be addressed. Don’t place your home on the market before addressing the issues. Listing your home before it is ready can not only affect a buyer’s decision during an open house but the DOM- or days on market- will add up and deter people from your listing. A high DOM (typically longer than 3 months) may be a red flag for home buyers.
Trust an Expert
Above all, find a trusted agent to help you. Unless you are offering the home “For Sale by Owner” then enlisting the aid of a professional, like Ted Payne, can only help. Just like buying a home, selling a home has its fair share of complexities. Many of these nuances and ins and outs are best handled by professionals who are capable of navigating through the mountain of paperwork.
Keep in mind, selling your home is a big decision, but it’s also an exciting time. Moving into a new home is a chance for a new start for you and your family. Make sure you sell your home the right way so that you can easily cut ties before moving on to the next real estate adventure in your life.