In today’s blog post, we offer tips for first time home sellers in Hawaii. Find out what to watch out for before trying to sell your house!
If you have never sold a house before, the process can feel downright overwhelming. There is a lot to do, and without the right support team, it can quickly spin out of control leading to mass frustration, spiraling costs, and an overall unpleasant experience.
Below, we offer some of our best tips for homeowners who are ready to sell a house in Hawaii, whether it be their personal residence or an investment property.
Get The House Ready
If you decide you want to list the property publicly on the MLS with a Hawaii real estate agent, you’ll need to prepare the house for the open showings. This means you will need to possibly paint the walls, replace old carpet, update hardware, replace old fixtures, upgrade kitchen/laundry appliances, and make any repairs or attend to deferred maintenance that the property needs. You’ll also need to clean the house (use a professional), keeping it that way for property showings through your marketing period. Your costs can add up quickly, so if you choose to hire an agent, make sure the upfront costs are taken into consideration before signing a listing agreement. It’s better to know upfront what everyone’s expectations are so that the experience is a pleasant one.
Learn About The Market
When selling your house in Hawaii, it’s very important that you understand your local current market conditions — down to the neighborhood or even your street. A house in Kalihi or Liliha doesn’t tell you much about a house in Pearl City or Waipahu. Take some time to research trends and recent sales. Determine what your property is really worth and whether those figures have gone up, stayed about the same or gone down in the past 12 months. Try to maintain a realistic idea of your property’s true value so you can 1) properly negotiate when the time comes, and 2) not waste time asking for an unattainable sale price.
Price Your Property Correctly
Pricing your house too high from the beginning will likely net you less money when all is said and done. An overpriced property will sit on the MLS longer, incurring greater holding costs and lose its overall appeal to the buyers out there shopping. You really want to hit it right out of the gate and not be there 180 days later wondering why you don’t have any offers. With a direct sale to Oahu Home Buyers, you won’t have to worry about pricing or trying to determine an accurate value since we’ll give you an actual offer for your property.
Consider Your Selling Options
There is more than just one way to sell your house in Hawaii. It’s important that you analyze the different sales methods and factor in what each will cost and what benefits that each will provide. Listing with an agent on the Hawaii MLS is great for properties that need little work and that don’t need to be sold right away, i.e. if you have all the time in the world, then by all means – put it on the market with your preferred agent (or ask us for a few referrals).
Listing can take some time and there are often expenses for repairs, cleaning, marketing, and other listing costs that you may not think of upfront. A direct sale is often the better choice for properties that need work, that are encumbered with liens or tax debts, or that need to be sold rather quickly or under the radar of the general (and nosy) public. In some cases, a direct sale we be the best way to sell from a financial standpoint, not to mention all the time you’ll save by working directly with us, the buyer.
Understand The Costs
If you choose to list, it’s important to know what it will cost you in total at the end of the day. Many people often fail to factor in costs for cleaning, upgrading, or attending to necessary (or suggested) repairs. As mentioned above, it can take a lot of work to get a property ready for the MLS. You’ll also need to factor in marketing costs and the cost of your time if that’s on your (ex. For Sale By Owner). How much will it really cost you preparing and showing the property? With an agent, you will also need to factor in commissions, agent fees, administrative expenses, and closing costs so make sure it’s all spelled out in any written agreement. Every one of these expenses can be avoided with a direct sale to Oahu Home Buyers.
Work With Professionals
No matter how you decide to sell, always make sure that the people you are working with are honest, professional, and passionate about what they do. If you list, your agent needs to fight for you, getting the best price possible for you, their client. If you choose a direct sale, Oahu Home Buyers knows how to efficiently close, making the selling process simple, streamlined and convenient for you. Not every investor is the same, though. When you work with us, you can be assured you will receive the best treatment and the best prices possible. If you plan on fixing up the house before trying to sell it, make sure the contractors you are working with are known to you or come highly recommended (ask for and *check* referrals). You don’t want to find that you are throwing your money away on repairs and upgrades that don’t offer a return…..or that the contractor leaves and doesn’t return at all!
Have Fun
Ok this may sound overly simplistic, but if you present an atmosphere of joy in cleaning up, fixing and presenting your property, then that joy can’t help but show itself off to your potential buyers. Details count, so if you treat your property with care and attention and pride, your buyers are likely to feel the same thing.