Published June 7th, 2024 by Susan Kadilak

Do you remember what it was like house hunting for your first home? Navigating the real estate market from the other side of the transaction as a first-time seller can be just as daunting, and exciting! Below are some things to keep in mind as you begin the journey of your first home sale:

1. Remember that first Impressions Count

In today’s market, your home’s online presentation is the modern version of curb appeal. High-quality photos and a well-crafted online listing are crucial to getting a potential buyer interested enough to take a look at your home in-person. Clear descriptions and a solid social media campaign can help get buyers excited about your home. A beautiful digital showcase can speed up the sale and even raise the selling price by increasing the number of potential buyers interested in your home.

2. Do Your Homework

As part of the process of preparing to put your home on the market, take some time to gather information that potential buyers will be interested in. This includes receipts for any repairs done during your ownership, any pest or service agreements, and average utility costs. If you have solar panels be sure to have the paperwork readily available.

3. Be Flexible with Showings

The more accessible your home is for showings, the sooner the perfect buyer will find your home. Be flexible and prepared for potential buyers to request visits at various times. Keeping your home in 'show-ready' condition can be challenging, but it is crucial during the listing period. Many of our sellers choose to go on a mini-vacation the first weekend their home is on the market to allow flexibility for showings.

4. It’s Not Always About the Price

In our fast paced Greater Boston market, multiple offers aren’t uncommon. But, it’s important to remember that assessing offers is about more than just a price. It involves understanding the terms that can make or break a deal, such as closing dates, financing, and contingencies. In multiple offer situations, I’ve had many sellers accept offers that were not the highest on the table because someone else had better terms and fewer contingencies. Understanding the risks a particular offer poses and keeping your goals in mind will guide you to the right decision.

5. Negotiation

Negotiating is a critical component of any real estate transaction, whether you have multiple offers on the table or just one. Effective negotiation can lead to significant financial benefits, potentially saving thousands of dollars or gaining more favorable terms. It also provides an opportunity to address and resolve potential issues, such as after a home inspection, before they become deal breakers. Negotiating can happen at various points in the transaction:

 

- At the initial offer stage

- After home inspection

- After a bad appraisal

- When discussing which items get left behind

- Anytime one of the parties requests a change in terms, such as an extension of time to obtain financing.

 

It’s important to have a strong negotiator on your side who can help you keep the end goal in mind, but also knows when it’s time to walk away from a deal and move on to a better opportunity. Not every deal goes smoothly, so it’s important to be prepared for hiccups along the way.

6. Consider the Emotional Aspect

Selling your home, especially for the first time, can be emotionally challenging. It’s important to remain objective and focus on your goals throughout the process to make the best decisions for your financial future. For example, many home buyers submit “love letters” to the seller with their offer. These letters are not part of the offer- they are an attempt by the buyer to appeal to the sellers emotions. The market is not easy for home buyers, so I don’t blame them for doing this! But with my clients, we have an agreement up front that we won’t be reading any “love letters” when evaluating offers.  You can always read them after the deal is done if you’re curious, but doing this will prevent you from making a decision based on an irresistible puppy photo!

7. Keep the End Goal in Mind

Always keep your end goal in focus—whether it's purchasing your next home, relocating for a job, or simply achieving a significant financial milestone. This perspective will help guide your decisions and keep the process in perspective.

Selling your home in the Greater Boston area for the first time is a significant undertaking, but with the right preparation and guidance it can also be incredibly rewarding. By understanding the market, preparing your home for sale, and working with experienced professionals, you can navigate your first home sale with confidence and success!