Selling Your First Home? Understand The Role Of Your Realtor!

Remember when you bought your first home a few years back? Now, it's time to sell it!  Feeling a bit unsure about where to begin?  Don't worry - finding the right agent to help you sell your home and move onto your next one can be easier than you think.  The first step, of course, is to decide if you will sell it yourself, or find a good Realtor to help you with the sale.  Here are some tips to help you get started!

UNDERSTAND THE ROLE OF YOUR REAL ESTATE AGENT!

I came across an interesting stat on Zillow:  the average seller lives in their home for 13 years before deciding to sell and spends about 7 months thinking about listing it.  Many of the sellers I've worked with use that time to research online how to sell their home!  There's a ton of information out there, which can quickly lead to information overload and frustration!

That's where a Realtor comes in!  We're here to guide you through the process.  This is our business, and it's what we do every day.  You might consider selling your home on your own (FSBO - For Sale By Owner) to save money, but think about the tasks your Realtor handles that you might not have the time or resources to do yourself!

• They understand the market, especially the market in your area and your neighborhood, and can help with the fair market value and pricing strategy - Zillow and other sites can't do this for you!
• They have access to extensive market exposure options, through MLS.  Yes, you can put your home on Zillow and other sites, as well as social media sites - but your Realtor will have a network of Realtors that they have worked with as well as the MLS and other websites that you may not have access to!
• A Buyer Agent may not show your home, especially if you are not willing to pay the Buyer Agent commission!  With the new law taking effect next month, buyers will need to decide whether they want to consider homes where the seller is offering no commission or a very low commission.  In such cases, the buyer would need to cover the difference for their agent's commission.  Some buyers may be fine with this and have the funds to pay their agent, but many may not be in a position to do so.  This could impact the number of buyers who are willing or able to view your home.
• Your Realtor can negotiate professionally with the buyer's Realtor.  Your Realtor will not be emotionally tied to your house the way you may be - they won't have memories inside the house that you will have!  Your Realtor will be able to look at all offers and help guide you through the negotiations and counter negotiations.  
• Your Realtor knows the paperwork.  Even though Virginia is a Buyer Beware state, there are still plenty of paperwork that goes along with the sale!  There are disclosures, there are rules and laws governing the Homeowner Association disclosures, there are fair housing laws, there are inspections, and much more!  Your Realtor is familiar with the contracts and what they contain to make sure that you are protected.  If you do not have a Realtor, you will need to find an attorney who is familiar with the real estate contracts to ask them to review the contract on your behalf!  

Finding the right Realtor to help with your home sale is crucial for a successful transaction.  You'll likely have many questions, and a good Realtor will provide the right answers to ensure you get the best sale possible.  Ultimately, this means you'll make more money from your sale and enjoy a smooth transition to your next home!  

Check back in a few days for Tip #2 on selling your first home!  If you have any questions in the meantime, feel free to reach out!