The real estate market is hotter than ever in 2017. In the last months, home prices had shot up while the inventory of homes for sale is getting low. In short, there’s plenty of demand from buyers but not enough inventory from sellers. That’s why there is no better time to sell your home than now. Home sellers should take advantage of this seller’s market, especially for the first time sellers. Here are some tips to help first time home sellers sell their homes fast!
First Time Home Seller Tip #1
Hire a professional real estate agent. This might be the best thing you can do in order for you to sell your home as fast as possible. Despite what you may have heard through the grape vine and the current seller’s market, your home will still not sell itself. Selling a home can be a tricky process and often it involves complex transactions. Having a professional real estate agent who is knowledgeable of the processes and an expert on the local market who can advise you in terms of pricing can be very valuable.
First Time Home Seller Tip #2
Listen to Your Agent. Once you’ve finally found the right agent for you to work with, listen to his/her advice. Remember that you hire this individual to help you to sell and part of their job is to advise you on your home’s fair market value.
First Time Home Seller Tip #3
Price It Accurately. As a seller, you do not determine the correct value of your home. It is the market that determines how you should price your home, among other factors. Being in a seller’s market, a seller might be tempted to take advantage of this situation and hike up their home pricing. Keep in mind that it is important that your listing price is not out of line with other comparable homes in the market.
First Time Home Seller Tip #4
Get a professional photographer. In real estate, photos are the best marketing tool. Enlisting a professional photographer to capture the beauty of your home can increase the probability of your home selling faster.
First Time Home Seller Tip #5
Have an Open House. A majority of the houses that are shown in an open house get sold quicker. A great number of home buyers’ decision in choosing a house is when they see it with their own eyes and experience it and subsequently, falls in love.
The idea of letting total strangers to your house can feel a bit intrusive however, this is a great way to show your home to potential buyers. Consider staying away during open houses to let the buyers tour in peace and avoid awkward situations which can compromise your showing.
First Time Home Seller Tip #6
Home Staging. A staged house for sale is more enticing to buyers as this allows them to picture themselves in the house. Make sure to remove all the clutter lying around, including your personal items like family pictures. Removing some large furniture can also help to make rooms look even bigger. Don’t forget about your home’s exterior too as it is the first thing that greets your buyers. Remember, first impressions last.
First Time Home Seller Tip #7
Keep up with the competition. Take a peek into the pricing, type of sale and condition of the other homes in your area that you are up against. Attend open houses to get a glimpse of what the competition offers and make sure that the condition of your home is at par or even better.
First Time Home Seller Tip #8
Respond promptly. Make it a point to respond promptly to purchase offers. Put yourself in the buyer’s shoes. Even if an offer contains a date by which it expires, it can still make a buyer anxious to wait for a seller to decide whether to accept the offer or to issue a counter offer.
The Bottom Line
In a seller’s market, when inventory is low, there is little competition in the market and buyers are ready to pounce on your new listing. We hope these tips help increase the odds of your home getting sold in no time!