Selling your home may seem like a daunting task, especially if it’s your first time. However, if you know how to sell a home for the first time, then you can navigate the process seamlessly. If you jump into the procedure before doing your research, then things may not go too smoothly. Check out these tips for how to sell a home for the first time, and reduce some of the stress that comes with trying to sell your Detroit home.
1. Connect with a Reputable Real Estate Agent
Selling a home on your own comes with various challenges; some people attempt it, but it’s not easy to manage successfully. Zillow research indicates that approximately 36 percent of people tried to sell their home on their own; however, all but 11 percent stuck with it. The remainder ended up hiring an agent after all. Why did they do this? Real estate agents have the experience and connections to move your home quickly—if you find the right one.
Furthermore, they know just what paperwork is required to sell your house. Critical items like the title report, purchase agreement, and deed are all fundamental pieces of paperwork you'd need to know how to navigate on your own. You can rest assured that you will be doing things the legal and proper way when you work with a trusted real estate agent.
2. Prepare Your Home
Before you start showing your home, you’ll want to make sure it’s in top shape. While you've loved and cared for your home for years, following these steps will help generate more serious offers.
First, take some time to declutter and clean your house thoroughly. A decluttered, clean home tends to look more bright and cheery, and it will garner much more attention than a messy one. Even if you’re in the process of boxing things up for your next adventure, make plans to move the boxes out of sight before people come to see the house.
Next, get an inspection before showing your home. If you have the inspection in hand, it will put you in the driver’s seat when it comes time for negotiating. If you wait until after you have a buyer to get an inspection, it gives that person a possible advantage. If anything shows up, they may try to negotiate the price down more than you anticipated. At the very least, it allows you to know upfront if there are any problems with the house.
Finally, after you get your inspection completed, you can use it to make some home improvements. Some repairs are DIY fixes—and they won’t cost much either. Take time to do a few of these, and you’ll add value to your home.
3. Determine a Price
It’s crucial to price your home right for the market. You don’t want to overprice it because then it will sit on the market too long without moving. On the other hand, you don’t want to go too low, or you stand to lose out. A real estate agent can determine the best price for your house. Using market analysis tools and other online internet resources, an agent will determine how much you should ask for your home. Of course, the decision is yours, but a real estate broker can provide guidance.
4. Market Effectively
When it comes time to list your house, you’ll need an appealing listing description. Your agent will design one for you, so you need not worry about writing one. The best Detroit real estate agents will also obtain professional marketing photos of the interior and exterior of your house and set up a virtual tour. Research gathered from the National Association of Realtors Research Group discovered that 87 percent of people searching for a house found that photos were very beneficial; 46 percent found virtual tours very useful when making their decision.
Online Listings Have Power
It’s essential to list your home on multiple sites and channels for the best exposure. According to recent data, approximately 44 percent of people looking for a home turn to the internet first. Once people find the house they like, they then go through a real estate agent.
5. Negotiate Offers
As your house generates showings, you will begin to receive offers to purchase. You can accept or refuse any offer you receive. Additionally, you may propose a counteroffer if you are not satisfied with the offer price. You and the buyer may go back and forth on the price negotiating before you get to a mutually agreed on price. Your real estate agent will guide you through the negotiation process.
When there is an offer to purchase that you both agree upon, it’s binding once both parties sign it. Besides the price, the contract will include all contingencies as well as down payment requirement, warranties, financing, and other fees.
Now that you understand how to sell a home for the first time, take the first step. Find a real estate agent you can trust! At MARK Z., our agents have an aggressive marketing strategy that delivers results. We're so confident we can sell your Detroit home that we guarantee this: we either sell your home, or we buy it!