Tips for first time sellers

For first home buyers, there is a wealth of information available about how to go about purchasing a property.  But what about if you are a first time seller? There is no doubt that approaching the market for the first time from this perspective can also be daunting. 

 

In the first instance, it could have been quite some time since the purchase of your property and you may not be as up to date with the real estate market as you once were.  In addition, advancing technologies have created entirely new tools by which to market and even sell a property, which while useful may be confusing and require explanation.   

 

The following are a few suggestions for sellers who are approaching the real estate market for the first time. 

 

Choosing an agent

When selecting an agent, it can be helpful to talk to friends and colleagues who have had successful selling experiences for recommendations about agents and companies.  It is then important to spend time with a number of real estate agents in order to get an idea about the pricing of services, various marketing approaches and personalities.  Remember – you are going to be spending a good deal of time with this agent in what can be a stressful and emotional experience.  Make sure you trust that they are working in your interests and are committed to achieving the best result for your property.  

 

Have realistic price expectations

Before setting your price expectations in stone, it is important to research the current state of the property market in your local area, which your agent will be able to assist you with.  Looking at comparable properties also for sale, recent sales, and general economic conditions will help you to develop realistic expectations regarding the value your property is likely to achieve. 

 

When developing your price expectations it is also essential to listen to the advice of your real estate agent.  With market intelligence and ongoing communication with buyers in your market, your agent is likely the best placed to provide advice around the values that buyers are currently assigning to properties. 

 

Preparation

Preparing your property for sale can take more time than you realise, particularly if you have lived in it for a long time, so start early!  A general clean-up and decluttering will be required in most cases, which should also help to make things easier when it comes time to move.  Depending on the state of your property a fresh coat of paint and other cosmetic enhancements may also be needed.   

 

While the prospect of selling your first property may seem overwhelming, it certainly doesn’t need to be, particularly if you are working with a helpful real estate agent who can be on hand to offer information and advice.  By ensuring that you start preparing early and arm yourself with market information, you should be well on your way to achieving a successful, stress free property sale. 

Posted by Charles Tarbey on 05/03/2012 at 9:38 AM | Categories:

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