With all the advice floating around for first time home buyers, we’ve been giving some tips to potential first time home sellers. Like buying, selling is a lot of work, especially if it’s your first time at the rodeo. Take a look at what first time sellers should be prepared for:

Expect to be busy at the beginning

When you enter a home market, understand that there are already a lot of existing hopeful home buyers who have been on the search for a long time—there may even be buyers who have been waiting at the gate for their perfect home to go on the market for the last few years. These buyers are constantly monitoring new additions to the market and their online listings, and so any newly added home will be of interest. This is why you should expect the most interest within your first few weeks of trying to sell your home. The problem is that not all of this interest may be really serious. However, if you don’t find a buyer within this period and your interest starts to taper off, understand that this is normal and that you still have some time to find the right fit.

Be realistic with pricing

Many first time buyers are not realistic about how to price their home. This is usually due to the fact that their perceived value of the home is very different from a realistic price. The seller may be going by the amount they previously purchased the home at or the assessed value for tax purposes. Or, they may just be fantasizing about getting a large sum for their home. One issue may be our previous point—at first you’re going to have a lot of interest, and this can give you false confidence about how appropriate your price is. If your price is too high, you’ll likely find yourself without any offers once the rush is over, or with offers that are lower than what you asked. While some sellers may purposely list high in preparation for low offers, it can be a great strategy to price competitively from the beginning. If you list your home at a price that is fair from the beginning, you may find yourself with reasonable offers during your busiest period, meaning you could save yourself the time it would take to keep your home on the market longer in Cherry Creek homes for sale .

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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