Do you really need to hire a real estate professional to sell your property? In this episode of Aloha O'ahu, we’re going to get the answers to three key questions to determine if hiring a realtor is the right move for you. I’ll explain some of your selling options and how to choose the best agent if you decide to work with one.
Selling Your O'ahu Property
When selling your property, have you thought of all of your options and what they can mean to you? You have several options when it comes to who you work with to sell your property; the “who” and the “how” really matter.
Having all these options typically results in deciding what's most important to you: the price, speed of sale, convenience, or return on your investment. If the property that you are looking to sell is your primary residence, it can be emotional. However, it's essential not to let your emotions take over because this is also a massive business decision.
Asking The Right Questions
Chances are you've built up a good amount of equity over the years—and most people want to make the most out of that. There are three questions you want to ask yourself before selling your property. First, how soon do I need to sell? Second, do I want to maximize the sales price? And third, how am I going to transition into my next property?
There is no one size fits all answer when selling a property because everybody's situation differs, as does the property. We're going to look at each of these questions so that you can determine if hiring a realtor is the right move for you.
The Right Timing
A realtor can be essential for getting quick offers for your property—but you also want the right offers. A savvy realtor knows how to make sure that your property is ready to sell quickly and correctly. As a realtor, I work with my clients to ensure their home is ready to be put on the market before we actually place it on the market.
This can include making needed repairs to the property and possibly providing staging to make that home shine. Recently, I had a former colleague call me because the realtor that he was using didn't put the property on the market when he said he would. I was called on Monday, visited the property on Tuesday, staged it on Thursday, and shot photos on Friday.
We showed the property over the weekend and, even with all that speed, we received a record-breaking offer. Ideally, we would like more time than that to prepare to get your home on the market. But we want to make deliberate staging and photography decisions to put your property on the market in the best possible light. If needed, we can do it quickly.
The Right Price
Even more important than timing, an experienced realtor will be able to help you determine the right price for your home. This is often the most critical step in moving your home quickly. If you price it too high, you might scare away some buyers and have your home sitting on the market for a longer period of time. If you price it too low, you might not have the funds you need for your next home.
The right price will bring in potential buyers and get them competing against each other for your benefit. An experienced realtor knows how to analyze the market in your neighborhood as well as the trends to determine the right list price and maximize your return. If you're living in your primary residence—and this is the home you're about to sell—you are going to need someplace else to live.
A vast majority of sellers don't have the ability to purchase a new home without using the profits from their current home. Often, you're going to be looking to purchase your next property contingent upon the sale of your current one. Another option is that you can sell the property, rent for a short while, and have your cash in hand. This way, you’ll be ready to pounce when that right house is put on the market.
Choosing The Right Realtor
There are several other alternatives that we can talk about if it fits your situation. An experienced realtor can help you with this complicated process in several different ways. The most important goal of the process is to ensure that your sale gets from the contract to the closing table.
There are many steps along the way, and navigating often complex situations and issues that arrive (most of which are very unexpected) is where your realtor really shows her value. No real estate transaction is the same, but an experienced realtor has likely seen some of the issues that can come up. A good realtor is like your insurance policy during the transaction.
In addition, a good realtor will have the background to work with you and the buyers to get your home sold. They’ll also be able to help with the transition and assist you with getting set up for your move into your next dream property.
Beginning The Journey
The home selling journey begins by taking the first step of analyzing your property's value and exploring your selling options. Whether you plan on selling within the next three months or the next year, the earlier you plan, the more options you will have.
Please feel free to contact me and we can talk about your specific situation and start exploring your options. You can also subscribe to my channel so you never miss an episode of Aloha O'ahu, my show where we talk about all aspects of real estate on the island of O'ahu. Stay tuned to see what I feature next!