There are many great articles and other online resources available for first-time house buyers when it comes to real estate advice. However, this cannot be said of advice for first-time home sellers. So we want to give you real estate tips for first-time home sellers.
There is frequently a period of uncertainty when a first-time home seller decides to put their house for sale. The majority of first-time home sellers are unsure of how or where to begin the selling process.
First-time house sellers must be aware of what the home sale process comprises, the cost of selling a home, and several other important details
Check out some of the most important real estate tips and tricks for first-time home sellers below before you sell your house for the first time. By using this advice, you’ll place yourself in a much better position to sell your first house and make it appear like a simple process!
- 1 Price Your Home Accurately
- 2 Insist on Professional Photography
- 3 Understand Your Local Real Estate Market
- 4 Prepare Your Home For The Market
- 5 Make Low-Cost Home Improvements
- 6 Home Staging
- 7 Understand Your Potential Buyer
- 8 Show Genuine Interest
- 9 Don’t Force It
- 10 Consider Marketing Both Online and Offline
- 11 Final Thoughts
Price Your Home Accurately
You don’t want to create the wrong impression by pricing your house high and then reducing it. Nor do you want to leave money on the table.
A reputable listing agent or consultant can help you here. Don’t choose someone who just dabbles in real estate. You’ll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighbourhood.
Your agent will analyze comparable sales and prepare an estimate of value—often called a CMA—for comparative market analysis. It is also ok to compare to other homes on websites like propertypro.ng
Insist on Professional Photography
Of course, if you have hired a top-notch listing agent, your agent most likely already provides professional photos. It’s not enough to just get the angle right in the picture. The most popular photos are rich in colour and depth, and they entice. Ask to approve the virtual tour or photo tour before it’s published.
Understand Your Local Real Estate Market
Real estate markets can vary significantly from one neighborhood to another. First-time home sellers need to understand the current state of their local real estate market. Generally speaking, there are three “states” of a real estate market, a seller’s market, a buyer’s market, and a balanced market.
Some real estate markets will vary depending on the time of the year. A seller’s market typically leads to lots of demand for a property and the possibility of receiving multiple offers. Before you decide to sell your home for the first time, you must ask a real estate professional for their analysis relating to the current state of the local market!
Prepare Your Home For The Market
One of the biggest mistakes made by first-time home sellers is that they do not know how to or understand how important it is to prepare a home for the open real estate market. Before selling a home for the first time, you must realize how important it is to make sure your home is show-ready as soon as it’s listed for sale.
One of the biggest suggestions for any first-time home seller is to have a home inspection completed before the house is listed for sale. The likelihood that a home buyer will decide to have a home inspection is very strong. Today’s home buyers are scared away from homes relatively easily, and correcting problems that an inspector finds before listing your home for sale can greatly decrease the chance that a deal may fall apart due to a buyer getting scared off.
Packaging is key when selling or marketing any product. It impacts the first impression a potential buyer has of the product. For a product to be attractive to a buyer, it has to appeal to factors they consider crucial in their decision-making. To package your house, here are things you should consider working on;
- Touch up the walls; both the interior and exterior. Scrape off peeling residual paints. Fill up any nail holes with sand and putty before the paint job is done. Replace any old wallpapers with new ones to leave a smooth, fresh finish. Experienced painters come in handy here.
- Conduct renovation on the interior fixtures that need touch-ups. Replace taps, fix leaking pipes, repair and repaint cupboards and drawers and have the floors redone if necessary.
- Door locks should be of good quality and in proper shape. Windows should be clean and easy to open. The netting, if any, should be firm and rust-free.
- If you’re selling the house with furnishings, you might want to hire the services of an interior decorator, who would know how to get nice items on a budget. Or, better yet, handle the furnishing yourself especially if you have an eye for aesthetics. The truth is that the more tastefully furnished your home looks, the more valuable and sellable it becomes.
- Do not underestimate the value of the exterior to your selling efforts. Anyone buying a house would like to imagine themselves in clean, tendered surroundings. Ensuring this contributes to the general appeal of the house and may as well contribute to its overall value.
Another way of maximizing returns from a property sale is home staging. The potential buyer would love to see how comfortable he or she can be in the house. This can be done by staging a normal, everyday home setting to spark the buyer’s imagination. Rearrange the furniture. Clear out unwanted items in the house. Set a comfy and relaxing atmosphere by using candles to light up the interior and create a homely effect. Finally, it is important to keep the buyer in mind and not have too much of your own style in the staging of the property because you must remember that you are selling to someone else, not yourself.
Understand Your Potential Buyer
Depending on the location of the house and the value attached to the house, as a seller, you must have a rough idea of the kind of buyers that will come your way. If your house is a three-bedroom maisonette in Lekki, you have a rough idea of the profile of buyers to expect. This will help you as you conduct renovations; it will inform you of the kind of fixtures to put in place.
Show Genuine Interest
Everyone wants to be listened to and to feel special. Like it or not, this is the way people think, especially when they think they are doing you a favor. Discerning buyers might be able to smell your lack of interest in their welfare from miles away. It makes them presume that you’re only interested in selling off the property; not caring if it truly meets what they really want and need. It never hurts to be a little friendly and to show a little empathy. This will make the buyer trust you and be more open to hearing why he or she should buy the property you have to sell.
Don’t Force It
Selling is a skill that very few people are excellent at. As a property seller or agent, your aim is to close many deals as quickly as possible. Knowing that a delay could mean another agent closes the deal before you, there is a tendency to want to coax prospective buyers or tenants to make their decision quickly. However, this rarely turns out well for both parties.
Consider Marketing Both Online and Offline
If you’re looking to sell your property, you can either choose online or offline marketing methods. You can walk down the street to speak to an agent, or you can do everything from the comfort of your home. The last couple of years brought Nigerian real estate investors and homeowners several online property marketplaces offering a cost-effective alternative to the high street by selling your property online. Ensure that your online listing is detailed and the images cover all features of the house that can pique the interest of a potential buyer.
Selling a home for the first time can be extremely stressful and exhausting. A first-time home seller who has a top-producing agent in their corner will have a much greater chance of a smooth and successful home sale.
The above tips and tricks are some of the most important real estate tips for first-time home sellers. Make sure when selling your home for the first time you’re mentally prepared for the possible upcoming home-selling challenges that you may encounter.