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Lenn Harley, Real Estate Pro in Maryland and Northern...

What should a first time home seller do?

Asked by Lenn Harley, Maryland and Northern Virginia Fri May 18, 2007

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Rarely do we hear discussion of first time sellers. The focus is usually on first time buyers. But first time sellers have lots of questions because they have not seen the other side of the transaction. There are costs they are not familiar with, and decisions they have not had to make in the past.

The first thing they need to do is find a listing agent and get educated on the process. I've written in more detail in the article below.
2 votes Thank Flag Link Fri May 18, 2007
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
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Ask your friends who recently sold who they used and if they felt they could put their name behind that agent and refer them to you. GOOGLE those agents to learn a bit more about them. Have the agents provide you a selling price to list price ratio as well as a ratio of their listed vs. actually sold homes. Ask those agents for refrences on the spot at your interview (Of their most recent land last three clients) and contact them as the agent is leaving your home to follow up on those dealings.

Once you have investigated them fully, place your faith in them to take over from there.
0 votes Thank Flag Link Thu Jan 3, 2008
It is important to walk a first time seller through the process, so they know what to do and what to expect. Selling a home has many facets in it, more than buying. The seller needs to know they are in charge of marketability - keeping the home in good shape, ready to show and available. They should also beware to not open their doors to people "off the street" who do not have an agent or an appointment. Safety first!
Web Reference: http://thedenver.blogs.com
0 votes Thank Flag Link Tue May 22, 2007
Know why they are moving. Sometimes it's simple, sometimes it's not. No move is without challenges, so knowing why you are moving, and what you hope to gain or accomplish by the move is critical to maintaining the right perspective. Also, when does the move need to take place? Like any other business, in real estate transactions time is money, and sometimes a lot of money, so know your time framework. Also, know the costs involved on both sides (selling the old home, buying the new). There is a proverb about estimating the cost before your build. Wouldn't it be terrible to more and find out you cannot afford to buy a home?
Laslty what are the alternatives if your home doesn't sell? What are the drawbacks if it sells for less than you wanted? Proper counseling by a good agent can making a move a positive experience. Failing to sit down and invest time in answering these questions will make moving unpleasant and stressful Sometimes the best move is to stay and remodel...
0 votes Thank Flag Link Fri May 18, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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