Best Tips for Selling Your First Home

Best Tips For Selling Your First Home/MNPropertyGroup

First Steps to Selling Your Home

The first time we reach a milestone in our lives is generally an event we remember for a lifetime. For many of us, the purchase of our first home fits into this category. Just before our marriage, my future wife Kate and I bought our first home! As a surprise for her, I hired a contractor to renovate it while we were on our honeymoon. When we returned, she was tickled pink, and we were both on cloud nine. That first home is associated with many happy memories as we began our life together. Selling it was bittersweet. We needed more space and felt excited about finding our second home. It was the right decision but an emotional process to let go and say adios to that first home.

Best Tips to Selling Your first House in MN

A great deal of advice is available for first-time homebuyers, but for first-time sellers, there is a void. I have helped hundreds of first-time homeowners sell. As a guy who has been there and done that first-time seller gig, I also have some personal insights. Here are my best tips to help you rock selling your first house. Use the internet to learn as much as you can about the process of selling your home. Below are some great topics I might suggest to google. We have a lot of great information on our website, and I have included links to posts you may find helpful.

List Your Home Real Estate Professional

The sooner you bring an top real estate agent onto your team, the smoother the process will go meaning less stress for you as the seller. The internet is again a valuable resource to research listing agents. Find one that has experience as a selling agent and knows the local area. Realtor reviews are also a great resource. When you find a couple that appears promising and meets your criteria, set up an interview. This is where you talk about marketing, price, experience, and exactly how the agent will promote your home. Great Real Estate Agents will also make recommendations as to how you can make your home more appealing to potential buyers. They can tell you items that you should expect to repair or replace, and what improvements will bring you a higher price and a quicker sale.

Develop an Exit Plan

Many homeowners are not able to buy their next property before they sell their current home. If you have a very desirable property, you can add a contingency that you must find your future home before closing. Or you can make an arrangement to stay on as a renter after closing. At times this works out, but if not, make sure you have some interim housing lined up, such as a rental or a temporary arrangement with family or friends.

Do Not Be An Emotional Home Seller

A trick I have to keep my emotions in check when I sell one of my own homes is to begin the separation process immediately. Stop thinking about the property you are selling as your home but as a business transaction. I’m not saying this is easy for everyone. Still, if you can’t set your emotions aside, they may influence all the decisions you make moving forward negatively. 

Here are some examples where many sellers let emotions get in the way of making the right decisions when selling their home.

  • Price: Your real estate agent will do a market analysis of comparable home sales based on the size, location, age, and condition of your home. Often when sellers are still emotionally bound to the homes, it clouds their judgment, and they cannot impartially evaluate the situation.
  • Showings: If you are serious about selling your home quickly, you must be flexible. Buyers are bringing the money to the table and will have an expectation that you be respectful of their schedules, especially if they are from out of town or out of state.  Remember, the easier it is to show your home, the faster it will sell.
  • Low offers: Many sellers become offended by buyers that make meager offers. Keep your feelings in check and don’t become angry. Instead, stay calm and counteroffer, even if you remain adamant about your asking price. This is a perfect example of when to listen to your agent’s advice.
  • Make Yourself Scarce: The worst thing you can do is stay in your home during showings or open houses. Put yourself in the buyer’s shoes. Would you be comfortable touring your next potential home with the current owners looking over your shoulder? It’s almost impossible for buyers to make that necessary personal connection and view themselves living in your home if you are present.
  • Repairs: After the home inspection, you may receive requests from the buyers that you make some repairs or adjust the selling price. Again, keep a cool head, be reasonable, and evaluate the validity of the request. Here is another time when you might benefit from your agent’s experience and advice.

The first home you sell will probably be the most challenging. Remember that you are only selling a house. You will take all the memories and shared experiences with you to your next home.

Best Tips For Selling Your First Home/MNPropertyGroup

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