Whether it's a family home that's been passed down through generations or a starter home that's been outgrown, we know that the process of selling a home is often a difficult one for many homeowners — but it doesn't have to be.
In this blog post, we'll provide you with expert tips on how to sell your home like a pro, even if you're a first-time home seller.
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5 Essential First-Time Home Seller Tips for a Quick and Stress-Free Sale
The following first-time home seller tips will help ensure that your home stands out from the competition and attracts the right buyers who are willing to make good offers for it.
Don't Be Greedy
We get that you want to sell your house for as much money as possible, but overpricing it will hurt you.
Overpriced homes usually get ignored by buyers and remain on the market for a long time until the seller is compelled to lower the asking price. If you have to repeatedly drop your home price after a high listing, potential buyers might assume that the home has a problem and continue ignoring or present you with an even lesser offer for it.
So, if you want to sell your house fast and for the best price possible, you need to do your research to price your home reasonably and competitively from the get-go.
Hire a Top Local Real Estate Agent
As a first-time home seller, you probably have no idea how a home's listing price in real estate is calculated.
For this reason, we advise working with a knowledgeable real estate agent in your area who can assist you in determining a fair price for your home that is supported by comparable sales (what properties similar to yours in size, condition, features, and location have sold for recently).
A real estate agent can also advise on preparing your property for sale, help you navigate the legal and financial aspects of a home sale, which can be confusing and overwhelming for first-time sellers, as well as aggressively market your property to increase the number of potential buyers who see your property. If you need more incentive to work with a real estate agent, according to a report by the National Association of Realtors, homes sold by real estate agents sell faster and for thousands of dollars more than For Sale By Owner (FSBO) homes.
NOTE: if you're looking to sell quickly in the Pittsburgh, PA, area and avoid hassles, at HomeBuyers of Pittsburgh our expert team can advise on the best possible outcome for a cash home sale.
To choose the best local real estate agent, look for someone with a track record of selling houses comparable to yours for more money and faster than the average local agent. Also, previous clients should highly recommend the agent.
Get Your Home Ready for Sale
According to research done by Zillow, the biggest regret home sellers have is not spending enough time preparing their homes for the real estate market.
To avoid this regret, do the necessary home repairs and improvements before putting up your home for sale. This is important because houses in good condition attract more buyers, sell faster, and for more money.
Deep cleaning, decluttering, sprucing up the curb, replacing old appliances, repainting, and staging are a few things you may do to make your home more presentable and raise its worth by thousands of dollars.
Don't let all the time and money you put into preparing your house for sale go to waste by using average or low-quality images in your listing that won't capture the interest of potential buyers.
Consider hiring a professional photographer to take high-quality, colorful, and detailed pictures of your home that will appeal to homebuyers and potentially speed up the sale of your home by 32%.
Know Your Numbers
How much will selling your house cost, and can you afford it?
We have seen many first-time home sellers become horrified by the expenses associated with selling their property, therefore answering the above question is important.
We advise that you do an advance calculation of the costs related to selling your home to avoid unpleasant financial surprises.
A real estate agent's commission, which is negotiable, is often the biggest expense a home seller has to incur. Typically, this represents 5% to 6% of the price of the home.
So, if your house is sold for $400,000, the real estate agents commission might cost you $24,000. This amount will be shared between your agent and the homebuyer's agent because home sellers frequently foot the bill for the latter.
Additional charges that you might have to pay include capital gains tax, transfer tax, inheritance tax (if you're selling an inherited house), home repair costs, notary fees, seller concessions costs, mortgage debt, and buyer home warranty costs.
Ideally, you want the money from the sale of your house to pay for all of the expenses incurred selling it, or you'll have to go into your pocket, while still leaving you with a profit.
Choose the Right Time to Sell Your Home
According to a Clever Real Estate survey, another common regret among house sellers is that they wish they had held off on listing as they would have made more money.
For this reason, we recommended that you seriously consider the timing of your home sale, particularly if you're not under any pressure to move.
There are three real estate market conditions, a balanced market, buyers' market, and sellers' market.
If you can wait to sell your home in a sellers market, which is characterized by high demand for properties, that leads to home sellers getting multiple offers and selling their properties for more than the asking price, you'll likely end up a very happy home seller.
Pittsburgh and most other cities across the US experience a strong sellers market in spring, which marks the start of the home shopping season. So, this is the best time to sell your house if you're a first-time home seller.
HomeBuyers of Pittsburgh: The #1 Professional Home Buyer
The last first-time home sellers tip we would like to give you is to consider selling your home to a reputable cash home-buying company like HomeBuyers of Pittsburgh.
At HomeBuyers of Pittsburgh, we use a simple three-step process to make you a competitive cash offer for your home as-is within hours of you getting in touch with us.
Partnering with us is a smart choice because it will not only expedite the sale of your house but also spare you the emotional rollercoaster of a traditional home sale, save you money on real estate agent fees, and give you the much-needed cash you need to move into your new house without any hitches.
Get in touch with us at 412-444-8914 or info [at] urbanpgh.com, to learn more about our fast and hassle-free process of selling your home.