Buying your first home is always an exciting experience, but so is selling your first home! Many sellers go into this process assuming it will be simple, but there are a lot more intricacies than you might assume. For an efficient, effective sale, you will want to avoid these mistakes that first-time sellers make all too often.
Mistake: Selling without an agent.
When you realize that, as a seller, you have to pay the real estate agent 6% commission, it starts to look tempting to sell your house without an agent. But this is rarely a smart move. Between the legal paperwork, negotiations, and open houses, selling a home is a lot of work. Selling with a real estate agent will save you so many headaches, and you may even be able to ask more for the home. It's well worth the price you pay, especially when you've never sold a home before and are therefore unfamiliar with the process.
Mistake: Putting too much money into updates and improvements.
Obviously, you want to fix any glaring issues with the home before you put it on the market. But you don't want to spend more than necessary making a lot of upgrades and improvements that buyers may not even like. For instance, there's really no need to replace carpet that is in decent shape just because it is older. You don't have to put a new HVAC system in if the old one still works. Just ask slightly less for the home and let the buyer make these updates themselves. You'll save a lot of time and probably some cash.
Mistake: Being present for the open house.
Real estate agents usually recommend that the seller is not present for the open house. Of course, they have to let you attend if you want to, and a lot of first-time buyers insist on this. Don't. It really is better if you let your agent handle the open house. You don't want to accidentally slip up and tell a potential buyer something that may turn them away from making an offer. Also, potential buyers may have some not-so-nice things to say about the home, and it's really better if you don't hear these judgements so you can consider offers in a less biased way.
Avoid the mistakes above the first time you sell your home. With this advice and a good real estate agent on your side, you are set up for success. Contact a home selling agent to learn more.
This website can serve as your home for information about real estate. Here, you will find articles about the buying process and others on the selling process. We've also included content related to getting a mortgage, finding a real estate agent, and scheduling an inspection. We hope that by addressing all aspects of the real estate world, we will make you better prepared to handle any real estate transactions that might be in your future. After all, real estate can be a really smart investment, but only if you buy the right home and know how much to offer. Start reading, and enjoy what you find.