New sellers today should seek the assistance of a broker and/or real estate agent. Something that is different in today's market is that the value of the house isn't measured in the profit made on the sale but by the enjoyment the owners had from living in the home. Three important tips for today's first-time home sellers are: (1) Price it realistically from the start. The largest number of showings will happen in the first two to three weeks because buyers want to see the newest listings, so price your house competitively right from the beginning. Have your real estate agent give you a comprehensive list of the initial asking prices of nearby homes like yours along with the final selling prices, commonly referred to as a comparative market analysis. (2) Be prepared to lose some money. Your house is worth what buyers are willing to pay. That means that many sellers should be prepared to lose some money or hang onto the home until the value increases (which is not guaranteed). (3) Promotion, promotion, promotion. Consider who your most likely buyers are for what you're selling and cater to that group of people. For example, the typical starter home can also appeal to downsizing empty-nesters. And do not neglect the modern version of curb appeal using lots of photos on real estate listings' websites.

Blog inspired by article written by Dana Dratch featured on RISMedia and can be seen here:  http://rismedia.com/2011-06-13/3-tips-for-the-first-time-home-seller/