Navigating the market as a first-time seller
While buying a home for the first time is a daunting process, selling a property for the first time is a whole different ball game. Experience in buying does not mean automatic knowledge of selling, and this sale process can seem just as, if not more, daunting.
Whatever your reason for selling is, this is where choosing the right real estate agent to advise and guide you through the process can really come into play, as this will be the person (or team) supporting you for the duration of your selling process.
In an age where you can list anything for sale online and interact with buyers yourself from your phone, some people now choose to do this themselves with their property, too. While this may cut out the “middle man” and the need to pay them a commission, it could also result in more of your valuable time spent on the negotiating, paperwork, viewings, and general leg-work. Plus, without an in-depth, day-to-day knowledge of the market, and without professional leading the negotiations, you could be missing out on a larger sale price.
Questions to consider before selling your property
Do you know the current market value of your property?
If the answer is “no”, or “whatever Homes or OneRoof says”, this is where a real estate professional can come into play to give you an accurate market value, based on comparable sales and the current market. Sites that show estimated values should be used as a guide only, as they don’t take into consideration the unique features or selling points within your property, all of which have an impact on the true value.
Will you sell first or buy first?
If you’re selling your first home, the likelihood is that you’re looking to buy another property. Both options have their pros and cons, but ultimately you have to decide on a scenario you feel most comfortable with. Having a support team, such as a real estate agent, to advise and assist throughout the process can make all the difference.
Have you got everyone you need on your support team?
From lawyers and brokers to family and friends, having the right people around you can make all of the difference. It’s especially good to have people around you who know the process and what’s going on in the current market.
Will you use a real estate agent or sell privately?
Using an agent can help alleviate any fear of the unknown or the fear of leaving money on the table. They take care of viewings, negotiations, marketing, and more, meaning you can focus on looking for your next property.
What costs are involved with selling?
Factoring in the costs of preparing your home for sale, legal fees, marketing, moving expenses, and potential real estate agent commission are all important to consider. Talking to professionals, as well as your bank or lender, can help you build a better picture of this.
What will you need to do in order to host viewings and open homes?
You’ll need to look at prepping your home for sale. Ensuring you present a tidy, clean, “blank canvas” space where people can imagine their own things is a good place to start. You don’t need to break the bank with pricey renovations. Asking a real estate professional’s advice can be a good place to start.
Is there anything you need to disclose to potential buyers?
Is there a leaky roof, missing light bulbs or broken oven? You need to be as transparent as possible when selling your property; it’s crucial to remember your obligations as a seller, that you must disclose any known issues with the property or information that could be relevant to a buyer. Whether you use an agent or sell your property independently you would be liable for any undisclosed, but known, issues. Whether you use an agent or sell your property independently you would be liable for any undisclosed, but known, issues.
Navigating the labyrinth of selling your home for the first time can be a daunting process, fraught with potential pitfalls and a myriad of decisions that can significantly impact the outcome of your sale. From accurately valuing your property in the current market to deciding whether to buy or sell first, the journey involves more than just listing your home online. Real estate agents are invaluable allies in this process, equipped with the expertise to manage the whole sale process, from beginning to end.
By entrusting your sale to a professional, you not only alleviate the stress and time commitment required to sell privately but also gain a partner dedicated to securing the best possible outcome for your transaction. Opting for the expertise of a real estate agent ensures that every aspect of your sale is handled with care, from staging and photography to navigating legal disclosures and ultimately closing the deal.
Embrace the assurance that comes with professional guidance and maximize your sale's success, allowing you to focus on finding your next dream home.