First-time Sellers: Things to Know When Selling This Spring

How many times you've heard real estate professionals talk about first-time homebuyers? A lot. What about first-time sellers? Since spring is THE time for homebuyers to enter the market and lock in the dream home before summer ends, sellers, especially first-time sellers, should take full advantage of this seasonal market momentum. After a dramatic market shift, this spring can be tricky for any sellers. Interest rate almost tripled, home price has slipped for months, and the amount of time to sell a home doubled (in some cases quadrupled) since early 2022. What's going for the sellers? The strong demand and the still low housing inventory. Home price are a whopping 35% higher than what it was three years ago. You can make a profit when you bought your home before, even during Spring 2022.

Here are a few things you can do to get your home ready for sale. You can also read my previous blogs Get Ready to Sell (1) Get Ready to Sell (2) Get Ready to Sell (3) Get Ready to Sell (4) for more tips

1. Get your home in tip-top shape inside-out: This is no more the seller's market; not any home can fly off the shelf. Beyond thoroughly cleaning your house, keep surfaces/walkways cluster free and move-in-ready for OTHERS is the theme. Curb appeal, the exterior of your home facing the public, and the yard, are equally important. A good first impression can become real dollars here. Does the exterior need to be power-washed (cheaper than paint the exterior) so the paint can look fresh? Do you need to change that porch light bulb? Do you need to address the patch of dead grass? If your budget allows, you can hire the professional to stage your home to maximize all the attractive features.

2. Have professional take photos to present your beautiful home: Most buyers, as many as 90% of them according to Zillow, review the photos of your home online first. These photos are the deciding factor whether potential buyers go to see your home in person, the very step before the purchase decision for many. Professional photos should show the space well and should be taken during day time so it has the bright, welcoming feel.

3. Price your home right: Many sellers believe they should price high to get top dollars. In reality, pricing incorrectly, especially pricing the home higher than what is worth, can decrease the visits from potential buyers. This is also the reason why it is valuable to have the Realtor to evaluate the market with you so your home can be priced correctly.

4. Time the market (if you have the flexibility): Not ready to put your home on the market in April? Not a problem. According to a Wall Street Journal article that looked at studies for timing, the third or the fourth week of May might get you the highest profit. Other articles said May, June, July are all good time for big profits.

Last but not least, do talk to a Realtor who knows the market condition, understands what home buyers value most at this moment, and can connect you with a professional stager and the photographer. So not only you but also your home can be better prepared to sell.