First-Time Home Seller Tips

It is inevitable. At some point, most first-time home buyers eventually become first-time home sellers. The Inland Empire real estate market (much like the rest of the country) experienced one heck of a ride over the past few years, While we are still considered a seller’s market at this point, things are beginning to move towards a more balanced market. That may actually help deals happen rather than hinder them. But before you list your property for sale, make sure that you follow these first-time home seller tips and avoid common mistakes first-timers often make.

First-Time Home Seller Tips

Price Your Property Appropriately

Professionals cite pricing as the #1 reason most properties stay on the market for an extended period of time. In this fast-paced real estate climate, you need to price your Inland Empire home according to the most current trends. In fact, sometimes pricing it just below market may not only nab you a buyer quickly but could, in fact, garner enough interest to receive multiple offers. Oftentimes, this drives your final sale price up as well. But talk it over with your REALTOR® first because you run the risk of only receiving one offer at the below market list price. They can help you determine whether this is a good course of action or not.

Home Staging

Staging can mean the difference between a home sold in a matter of days and one that stays on the market for a while. Also, studies show that staged homes sell for more money than unstaged ones. Professional stagers cost money. But they also know how to make each area of your property look its absolute best. If this is not in your budget, ask your REALTOR® for staging tips that you can do on your own.

Make Your Home Available for Showings at Any Time

Selling a home is not always convenient when it comes to time management. But you should never limit your availability for viewings. This may mean taking Fido for a long walk or running errands with the kids while a buyer takes a tour of your home. (Yes. You DO need to be out of the house when this happens.) But if that is what it takes to get a sale done, that’s what you need to do.

Consider Offers Carefully

Finally, you do not always need to accept the first offer you receive. Money is great. But it is not the only reason to accept an offer. Other things to look for include strong financing (as well as the type of financing), the amount of time requested in escrow, and contingencies. More contingencies provide more of an opportunity for something to go wrong. At the same time, an incredibly high dollar amount offered for a property “sight unseen” may be too good to be true. Let your REALTOR® do their homework to see whether or not an offer is as good as it looks before accepting or countering.

As a first-time home seller, you may think that sky-high prices are the norm. They’re not. Please remember that our hot, hot seller’s market appears to be cooling off a bit. Now, that does not mean that prices or sales will plunge into oblivion anytime soon. But as interest rates rise and financing becomes more expensive, buyer interest may wane. If you receive a good, solid offer, take it now. If you wait for prices to “reach their peak”, you may miss out on a good deal. We cannot predict when that may happen. Work in the market that is happening right now, not what you “think” may happen in the future. And contact me when you are ready to sell your Inland Empire home.

Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty