First Time Sellers - What you need to know
First time buyers have a magnitude of resources to consult to ensure that they are prepared for their journey of buying their first home. First time sellers on the other hand unfortunately do not have the same number of resources available for them to consult. But like buying a new home, selling for the first time can be overwhelming and there are many aspects attached to the selling scenario that you might be unsure or unaware of. Below we discuss a few points to keep in mind and others to consider when preparing to sell your home.
Your first step would be to appoint an agent that you are able to trust and that will assist you in understanding the current property market. Market trends are constantly changing and when you understand what is currently happening, you will be able to make informed decisions along with the guidance of your agent. You might be wondering how you find the perfect agent for you. Agents are quite active in and around your neighbourhood, so you might have noticed a few boards up in some gardens. You can call these agents directly, otherwise google or community groups / forums are a good place to start. The best would be to ask friends and family if they personally know an agent that they can recommend. Trust your gut when it comes to appointing the agent. Ideally you would want them to be Reliable, Enthusiastic and Diligent. These characteristics are core to helping you sell your home. Finally, you should be able to trust that they will have your best interests at heart.
When you have appointed the right agent listening to their expert advice becomes easier. Your agent is an expert in their field and will be able to guide you accordingly. They will suggest a marketing plan, and this can and will make all the difference. Selling property can become highly competitive, so ask your agent for all the possible digital exposure that they are able to provide you with.
Note that selling your home will most likely be a lengthy process. Errors could creep in, and small mistakes will not cause any big problems, however more serious errors could be extremely costly. There are common mistakes that most sellers make, and your agent will bring these to your attention. But in the meantime, here is a heads up on what they are and the possible ways for you to avoid making them.
Overpricing your home
The price of your home is an integral part of being able to sell your home. The right price will attract the right buyers. When determining this element of the sale, your real estate agent will be able to assist you in getting the right price for you as the seller and for the buyer. It is important to remember that markets change and that your agent understands what will work best. Getting emotional about selling your home is natural. Emotions might be higher considering that this is the first home that you have built and that you have made so many beautiful memories here. But think about your selling your home as a business transaction. You want to get the best possible offer on your home and to be able to do that you need to have your home priced correctly.
Not preparing your home for a sale
Preparing your home to sell is always an advantage. Buyers use their eyes and hearts when buying a home. Do not fret however, major renovations are not the expectation. A lick of paint and ensuring that everything is move in ready is a good place to start. A neat and tidy garden is also always a winner. When in doubt, remember a space that is neat, and tidy is a winner. Do not feel pressure to spend any unnecessary money though.
Leaving compliance certificates to the last minute
Compliance certificates are important and should be done sooner rather than later. If left for too long, you run the risk of delaying the transfer of taking place. You could pass the certificates with flying colours or hit a snag and realise some work needs to take place before your home is fully compliant.
Being inflexible regarding viewing times
Viewings are an integral part of the home advertising and selling process. Therefore, doing your best to accommodate possible buyers is quite important. If viewing days and times are too stringent, chances are very high that it will take longer to sell your home and you could possibly even lose the sale. The idea is to get buyers into a home, while they are excited to partake in a viewing, but if the process of viewing becomes too much work, they will lose interest in your home and move along to the next best option. Leaving the home when your home is being viewed or is on show could also boost your opportunities of a sale. When homeowners are present during showings, possible buyers might not feel comfortable in asking certain questions regarding the property for instance.
Selling your home will always be exciting and difficult, make sure that you are 100% ready to make the sale and then commit whole heartedly.
