So much focus is placed on first-time home BUYERS, but what about the first time you SELL a home?
The first time you sell a home can be a stressful process. It’s not as easy as sitting back while your real estate agent collects offers. There will be matters that require your immediate attention, appointments that have to be made, and issues that might trigger unexpected emotions. Setbacks can happen, but those are all just a part of the process and you can prepare for them ahead of time.
Preparing for normal situations now, and having your favorite F.C. Tucker REALTOR® by your side, will make your home sale go so more smoothly. Here are the five most common things to expect as a first-time seller and how to prepare for them.
1. Realize You’ll Experience Surprisingly Strong Feelings About Your Home
Leave Emotions Out Of the Transaction
Establish a stress-relieving exercise routine and have your best friend on speed dial. Even when you’re excited about your new home or have been counting down the days to move out (maybe even away from a neighbor), selling your home is a life change that will stir up emotions you didn’t expect to have.
Whether you’re nostalgic about the memories and question if you really want to sell, or a potential buyer’s comment about renovating the kitchen you love makes you angry, take a deep breath, calm down, and hold off on sudden decisions. Emotional reactions might make you feel better in the short term, but the feeling won’t last. Always think of the big picture and your goals before changing course.
2. Your Home Will Need A Lot of Staging
Make Sure Your Home Is Impeccable
Even if you feel very confident in your taste in decor, anything that fills your home is a potential distraction for buyers. Your agent is likely going to suggest a thorough staging to show your home in the very best light to a buyer, so you can get the best offers.
Any work you can do on your home now will save you the time and cost of what the stager will have to do later. Go ahead and do the big decluttering project you’ve been meaning to do, rent a storage unit for that big sectional that takes up your living room, organize your wardrobe so your closet looks picture-perfect, and start selecting neutral paint colors for every room. Hire cleaners to do the kind of deep clean you would do if you were moving out of a rental. Remove personal items that mean the world to you but might look like clutter to someone else.
3. The Buyer’s Inspector Will Turn Up Many Issues
Get a Pre-Listing Inspection
You remember the short novel-length inspection report that you received from your inspector back when you bought your home, right? And how you hired the most thorough inspector you could find? That’s what a potential buyer is going to do with your home.
Acting now to address any issues will save you the headaches that pop up when a potential buyer looks to negotiate based on an inspection report. A pre-listing home inspection will turn up things you should repair and potential problems you might not even know about and gives you a clear answer on the exact condition of your home. Concerned about the cost? Your agent can advise on the changes worth making and which issues are okay to leave as-is.
4. Prepare Mentally For Low-Ball Offers
Realize That Not Everyone Sees Your Home Like You Do
There’s a difference between an offer that is slightly below the asking price and one that’s tens of thousands below that. The latter will trigger a strong emotion, but it will ultimately be rejected outright without thought.
Recognize that low offers are real-life feedback about your home. If there is something about your home that a range of buyers considers an issue, it’s an opportunity to address that. Or, this might be a time to address your expectations. If the offers are fairly reasonable, but you’re disappointed because you envisioned way more than the asking price, recognize that might not be the current market. While you see all the potential value in the home you’ve loved, others simply see it as property.
5. A Buyer Wants Many Concessions and Contingencies
Understand That EVERYTHING Is Negotiable
Whether we’re talking about lower offers, a back-and-forth about making changes based on an inspection report, or a potential buyer who comes back with multiple contingencies, understand that you have power as a seller (even if you’re in a buyer’s market). You can always say no, or you can always counter.
Basically, everything is a negotiation. It might help to think of this as an ordinary transaction — like buying a car — instead of selling your home. Just as you wouldn’t even think about buying a car without negotiating, a buyer is going to do the same on this even-larger-ticket item. And just as an auto dealer wouldn’t accept just any offer, you don’t have to give in on every ask.
For all of the latest information on our local real estate market in Southwestern Indiana, you can always trust the professionals at F.C. Tucker Emge. Our agents have superior training and resources at their disposal to better educate you about the road to homeownership. Even if you are 6-12 months (or more!) out from making a change, there is a lot to learn about the home buying and selling process, and our agents can help you learn what you need to know so that you can be confident in your decision and have a smooth experience when the time comes. Let’s Talk!
