Have you made the decision to sell your property but aren’t sure where to start? In this episode of Aloha Oahu, I'm going to walk you through the three stages of the home selling process from start to finish. I’ll also give you a timeline of events so you know exactly what to expect.
The Pre-Listing Stage
If you're like most people, the thought of moving is daunting. You have to think about physically moving as well as all the steps involved with actually selling your property. The good news is I'm hoping to simplify what you should expect so that you can start planning. Let's start with what you have to do before you even go on the market.
The first part of the home selling process is the pre-listing stage. It's during this stage that you begin preparing your property for sale. Before we can begin marketing your property, we need to make sure it looks good. Often, this is going to involve preparing your home for sale by doing such things as decluttering, cleaning, and rearranging your home to show it in the best possible light.
Cleaning Up Your Space
You’ll want to trim your plants and trees, power wash the driveway, and paint the front door so you make a great first impression. The less clutter you have out in the open, the better. Put away your personal photos and awards, clear off the bathroom and kitchen counters, and pack up all of your knickknacks. You should also hire a professional cleaning company to do a deep clean and reduce your furniture to basic pieces to make your rooms look larger.
These are crucial steps to handle before we can take photos and video. The first place buyers will see your property is online, so it's essential to make a good first impression. This will ensure that buyers are more motivated to schedule an in-person showing. It's also during this time that you might want to look for areas of your home that you may be able to improve on and get a positive ROI, or return on investment.
There are many simple tricks you can use to improve your property and sell it faster for more money. For example, there are two quick and relatively easy things I suggest to all clients: paint and fixtures. For example, painting a room may cost a few hundred dollars, but it may give you several thousand extra dollars in return.
Also, no one likes dated fixtures and worn-out fans. Those are relatively low-cost changes you can make to help make a great first impression. If you think about it, there are probably several areas that you can find in your home to improve upon that will allow you to maximize your home's selling price.
Once all of those punch list items are completed, then we can take the photos and video. After that, we're ready to roll.
The Active Stage
Once the property is ready to be shown, it's time to get it listed. This is the second phase of the home selling process where we get your home listed on the MLS, it’s active, and we begin showing your property. We must create a buzz right away and take advantage of it being a newly listed property.
It's also essential that we’re most aggressive in the first two weeks that the property is listed. This is your best chance to sell your home for top dollar. And of course, marketing is key. We will hold a broker's open house, a public open house, and develop a marketing plan that includes social media. This will all help create the buzz and urgency for buyers to buy your property.
During this time, you will also need to be ready for private showings as well. We don't control when a buyer wants to see the property; we can only be ready to accommodate them once they do. Eventually, your property will attract the right buyer and you will accept their offer.
Once there is an offer and acceptance, you are officially under contract and we can open escrow. During this stage of the home selling process—the escrow stage—there is still work to do. The buyers will have their home inspection, make their escrow deposits, and their lender will order an appraisal if there's a loan involved. There also will be a termite inspection.
All of these items move us closer to closing. It's my job to help coordinate with the buyer's agent escrow and the vendors to make sure your process is moving along smoothly and on time. This is important because one missed deadline can delay closing by days or weeks. We need to make sure we stay on top of things.
Getting Your Home Sold
I hope this gave you an overview of the home selling process. There are a lot of moving parts in a real estate transaction, and if it would be helpful, I have a seller's timeline document that I'm happy to share. I help people just like you sell their property every day, and I would be happy to assist you as well.
Of course, there are many details we have not covered here. I’d be happy to answer any further questions you may have. Feel free to reach out to me and I’ll be happy to connect! Don’t forget to also subscribe to my channel so you never miss an episode of Aloha Oahu for more information on Oahu living. Stay tuned to see what I feature next!