Last Updated on March 31, 2022 by Kravelv
Selling your home can be daunting, particularly if it is your first tryst with the real estate market. There are several things that first-time sellers have to deal with. From the complex paperwork to the changing market trends and the pressure of selling fast, the challenges are immense. Having a trustworthy agent is a big help, but you still need to know some basics to get a winning deal. Let us help you by sharing the dos and don’ts that you need to know as a first-time real estate seller.
Do have an offer due date in mind
As a first-time, you may be tempted to jump on an offer as soon as it comes up, even if it may not be quite up to your expectations. However, it is important to have a due date in mind so that you and the potential buyer get a few days to think and assess whether it is good enough for you. Holding an offer due date for multiple buyers can be a smart way of maximizing the market value of your property.
Don’t go too high with the price from the start
Advertising a price that is unreasonably high can make your property out of reach for a large chunk of buyers in the market. So you should not quote a sky-high price at the start as this can be a killer for the selling efforts. Buyers will probably not even come to have a look and this will delay the sale and even affect the value of your home.
Do listen to your agent’s advice
The next thing that you should do as a new seller is to pay heed to your agent’s advice. A professional and reliable real estate agent is the best person to guide you about the market as well as give you tips to make your property worthy of fetching a good price. They will probably advise you to spend a little on renovation to make the home more presentable to the potential buyers. Furthermore, they can help you ensure that all the paperwork is in place as this is a major concern for the buyers. Listen to your realtor’s advice if they suggest using a real estate lawyer as well like Brazeau Seller Law if the situation calls for this.
Don’t lose your patience
The golden rule of a real estate sale is to keep your patience and this is something that every first-timer needs to practice. Do not fall prey to the temptation of selling too early at a price that is too low. Waiting for a little to get an optimal price requires some patience but it can pay in the long run.
Do consider selling directly to a website
If you are unable to sell at a good price in the open market, consider selling directly to a website. There are several sites such as Return On Investments LLC that deal directly with the seller and offer good prices for immediate sale and quick cash. The entire process is fast, reliable and hassle-free too.
These tips are extremely helpful for the first-time sellers with limited knowledge of the real estate market. Use them to get a good deal while selling your home for the first time.