We hear a lot about first time home buyers, but what about first time sellers? It’s just as important to be know the ins and outs of selling as it is buying. If you are a selling a home for the first time, there are some things you need to know.
Choose your real estate agent wisely. First of all, you DO need an agent. Having someone on your side that knows real estate is crucial especially in our current market. You also need to keep in mind that you will have to sign a listing contract with the agent you choose to have represent you. Because of this, you will want to be very thorough in your interviewing process. Know that using an agent will require you to pay a commission, but having that professional working on your behalf is also likely to bring in a higher offer on your home. That being said, hiring a real estate agent to sell your home is actually an investment that will hopefully result in making you more money!
Be ready to sell. These days, the internet is the first impression buyers will get of your home. If you price it too high or list it before you are quite ready to sell (maybe you still have some noticeable repairs to do), the number of days on the market will add up which will hurt you. Too many DOM (days on market) make buyers think there is something wrong with your home. The best advice is to listen to your agent. They will tell you at what price to list your home and what needs to be done before putting it up for sale in order to make it as appealing as possible for potential buyers.
You will pay for too many DOM. As mentioned before, if your home sits on the market too long, buyers will penalize you either by moving on to the next home or making a low ball offer. We said it before, but it bears repeating that you DO need an agent to represent you when selling your home. So many issues arise during the selling process that your agent is trained to handle and not allowing your home to sit on the market too long without any activity is one of them!
Know the brokerage, but love your agent! Where your agent hangs their license is not as important as the relationship you build with your agent. It’s good to have a well-known company name on the sign in the yard, but you will never have contact with anyone in that company except for your agent. Bottom line, make sure your agent is one you trust because the sell of your home is in their hands.
Be ready to move. Once you decide to sell your home, you need to have a plan in place for where you will live if you get a buyer that is ready to close quickly. Usually you will have some time before an accepted offer, and then you will have the time it takes to get everything in order for closing. How long that takes depends on the market you live in and the agreed upon terms in the contract. Sometimes, however, it seems that it all happens before you know it. Be ready from day one with a backup plan in case it takes you longer than expected to find your next home.
Being prepared is key when selling your home. Don’t sell before you are ready. Always have a plan to fall back on in case you need to move quickly. And remember that your agent is the best resource you have when selling your home.
All of us at The Selling Rocky Mountain Homes Team want you to have the best selling experience possible. We want you to enjoy this milestone in your life. In order to make that possible, we have a team of agents and behind the scenes support staff to make sure you are taken care of from the day you list your home, to the closing table, and beyond. Don’t hesitate to call us today to see what we can do for you! We are always here and happy to help in any way we can! Call us today @ 720-593-2014 for more information on our team or on selling your home.