First Time Home Sellers
In real estate there seems to be a lot of focus placed on first time home buyers. Often lenders hold seminars to educate first time home buyers or a lot of online content is created around this audience to help in what can be an overwhelming process. And rightly so, it is their first time to buy one of their biggest assets. Over several years of helping first time home sellers I have realized that they are just as overwhelmed, if not more so. They have been through the buy side experience and gained some knowledge of the real estate process but they still have a mountain of questions surrounding them.
Here are a list of questions that we have received from our first time home seller clients :
When is the best time of year to sell my house?
What makes an agent better than another agent?
How much are Realtor fees?
What closing cost am I responsible for?
How much money will I walk away with?
What is the process?
How long is the process?
What is my house worth?
How should I prepare my house for market?
How do I handle the inspection period?
How clean do I need to leave the house for the buyer once I move out?
When should I shut off my utilities?
I am wanting to buy a house after this one sells, when should I start looking?
Some of these questions we can answer from our experience in real estate but as often as possible we like to answer these questions with data. Let’s take the first question for example, “When is the best time of year to sell my house”? While we often hear that summer time is the best time of the year to list a house for sale, we wanted to prove with data that this was in fact the case.
Below is a chart that answers this question. The results may not be surprising but it adds confidence to the first time home seller. And further, it shows more specifically what months are best to sell instead of answering with generalities. As the chart demonstrates, in this client’s particular market, March through August had the highest average price per square foot and the lowest average days on market.
If you are a first time home seller, fear not! You do not have to try and navigate it on your own. Make sure to ask any and all questions you have about the process. Also, beware of any advice that is focused on general statements and ask to see the data that backs up their advice. Data can and should be used to answer your real estate questions.