5 Tips For First Time Home Sellers
/These are 5 insider tips to consider for first time home sellers. These are insights from experience of working with sellers and paying attention to the details that really help to not only prepare someone who is selling their home but to cut out any surprises. Selling a home can be overwhelming with all sorts of issues to deal with, but these are some I see that aren’t considered enough.
- Don’t Forget The Outside - Yes the outside is just as important as the inside, so don’t forget to give it the same TLC when preparing to sell. Lots of emphasis is put on the inside of the home, when in reality the outside is just as important. People want to see the outside is taken care of and show TLC as well.
- Be Prepared To Show On A Short Notice - The reality is your home could be shown at any moment and you must be prepared to allow the showing. It is typical to ask for a one hour notice, so be sure you are prepared to clean up and leave the home in that time period. Remember evenings and weekends tend to be the busiest so you can plan accordingly. Keep in mind you are in control, you can set the limits on when it can and can’t be shown.
- Know Your Competition - Be aware that you may not be the only home on the market, so make time to see who your up against & see how you compare. I always tell my clients to pretend they are in the market for a similar home and look around, then figure out where you stand in comparison.
- Know Your Numbers - This may seem obvious but knowing your numbers is extremely critical to having a successful transaction… in many ways. First know what your bottom line will be after all expenses, that means the sales price minus the payoff, fees, commissions, repairs, etc… what is your bottom line number? So know your fees so there are no surprises. What is the exact payoff… not just your balance but payoff… you will find there can be a big difference. Finally know how much you will need for your next move, down payment, moving expense, etc… you will need those funds for your next transaction.
- Prepare For Repairs - This is by far the number one issue most new sellers don’t expect. They get their house under contract, figure out what they are going to make and think they are done, when in reality the buyer will be expecting some repairs be completed before moving forward. So be sure to account for making the requested repairs, now remember that is all negotiable, but it is rare for a buyer not to ask for something. Consider doing an inspection before putting your home on the market, so you know the exact condition of your home. Make repairs before listing it and you will know what repairs are left that a buyer could be asking for as well as associated costs.
Bonus - Numbers & Negotiating - Going back to the numbers, on top of knowing them I always tell my selling clients to draw an imaginary line in the sand when negotiating. Whether you are negotiating terms, sales price, or repairs, decide where you are comfortable and where you are not as far as your numbers. I see too many bruised egos and clients taking it personally, so it is best to decide up front so you know where you stand from the start.
Again I hope this was of value and maybe you picked up a tip or two. My goal is always to be a resource and educate my clients so they can make informed & educated decisions.
Have questions about this or other topics, don’t hesitate to contact me.
Luis Cuevas, Realtor®
RE/MAX Cross Country
1990 Justin Road
Highland Village, Texas 75077
(214) 783-0535
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