First Time Home Seller: Everything You Need to Know

Brittany Zamora
Brittany Zamora
Sales Coordinator
Mar 27, 2024
First Time Home Seller: Everything You Need to Know

Being a first-time home seller can feel a bit like navigating the high seas in a manmade canoe. There's a lot to learn and discover throughout the process. And though it may seem like there are a lot of moving parts, it really all comes down to understanding how the home selling process works (it’s simple really) and ways to maximize your sales value. This article was designed to help you understand each step of the process so you breathe a bit easier when the journey begins.

Understanding the Market 

Before putting your home on the market, it's important to do your homework. Take a look at the current housing market in your area. Are homes selling quickly, or are they sitting on the market for months? What's the average price for a home like yours? What price are you hoping to walk away from it at? Having the answers to these questions will help you make better-informed decisions and, hopefully, feel confident in moving forward.

Choosing the Right Real Estate Agent 

The right Realtor can make a world of difference. Look for an agent who has experience in your area, a track record of successful sales, and a communication style that meshes well with your own. Don't be afraid to interview multiple agents before making a decision – this is a big deal, and you want to make sure you're working with someone you trust.

Pricing Your Home Accurately 

One of the most important decisions you'll make as a first-time home seller is setting the right price for your home. Price it too high, and you risk turning off potential buyers. Price it too low, and you could be leaving money on the table. Your real estate agent can help you find that sweet spot by providing a comparative market analysis (CMA) and offering their expert advice.

Preparing Your Home for Sale 

Before any potential buyers step into your home, you'll want to make sure it's looking its best. This means decluttering, deep cleaning, and making any necessary repairs or updates. Remember, you only get one chance to make a first impression, so it's worth putting in the effort to make your home look its absolute best. 

Marketing Your Home 

Once your home is ready to go, it's time to get the word out. Your real estate agent will handle a lot of the heavy lifting here, listing your home on the MLS (multiple listing service) and other online platforms, marketing it, and leveraging their network to attract potential buyers. But you can do your part too by sharing your home on social media and spreading the word to friends and family.

Home Showings and Open Houses 

Get ready to welcome potential buyers into your home! This is where things start to feel very real. Your real estate agent will coordinate showings and open houses, but it's up to you to make sure your home is ready for visitors. Keep it clean, tidy, and smelling fresh. Consider leaving the house during showings to give buyers the space to explore and envision themselves living there.

Receiving and Considering Offers 

When an offer comes in, it's an exciting moment – but don't get too carried away just yet. Review the offer carefully with your real estate agent, taking into account not just the price but also any contingencies or special requests. If you receive multiple offers, your agent can help you compare and contrast them to determine which one is the best fit. Take your time to truly understand the offers you’re receiving and if the buyers expect anything from you on your end. 

Negotiation and Home Inspection Repairs 

Once you've accepted an offer, the negotiation process begins. The buyer will likely request a home inspection, which could uncover issues that need to be addressed before the sale can move forward. Be prepared to negotiate repairs or price adjustments based on the inspection results. Your real estate agent will be your advocate throughout this process, working to ensure a fair and mutually beneficial outcome, but you shouldn’t solely rely on them. Read the inspection report, understand it, and don’t be afraid to counter the ask. 

Closing the Sale 

You're in the home stretch. Closing is the final step in the selling process, where ownership of the home is officially transferred to the buyer. There will be a lot of paperwork to sign and fees to pay, but your real estate agent and closing attorney will guide you through it all. Read all paperwork carefully, ensuring you understand everything you’re signing. Once everything is signed and sealed, it's time to celebrate – you've just sold your first home!

Post-Sale Checklist and Moving Out 

After the sale is complete, there are still a few loose ends to tie up. Make sure you've notified all the necessary parties of your change of address, transferred utilities out of your name, and packed up all your belongings. If you haven't already, now is the time to start planning your move to your new home.

Selling your first home can be a bit overwhelming, but with the right preparation and guidance, you'll navigate the process smoothly. Remember, your real estate agent is there to help every step of the way, so don't be afraid to ask questions and lean on their expertise. And most importantly, try to enjoy the ride – selling your home is a big accomplishment, and you deserve to celebrate!

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Brittany Zamora
Brittany Zamora
Sales Coordinator
Mar 27, 2024

Brittany Zamora is a Property Coordinator at Revive. With a background in real estate and title services, her diverse experience enriches Revive's client engagement and business growth.

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