How to Sell Your Home for the Price You Want
Pricing and preparing your home for sale requires research, hard work and a local agent with market expertise.
Selling your home quickly is key to getting the price you want. Statistically, the longer it stays on the market the more likely your final sale price may drop below your original list price. Your greatest ally throughout the process is a professional, full-time real estate agent who will help you craft a comprehensive strategy that will sell your home for the best price within the shortest time frame.
FINDING THE RIGHT PRICE
The most important part of the selling process is pricing your home in the “sweet spot.” Price it too low and you won’t attract the right kind of buyers; price it too high and buyers will look elsewhere.
Your agent will be invaluable in this process by conducting market analysis of comparable home sales in the area and utilizing their neighborhood expertise.
Priscilla Walthouse, REALTOR® at Locations, says the psychological aspect matters as well. “When I talk to my clients, I say, ‘Make sure the last non-zero digit in your original price is a 9.’ For example, price it at $449,000 instead of $450,000. In my experience, home prices that end in 9 sell for an average of $4,000 more. The same psychological pricing principle is utilized in retail stores and consumers are conditioned to seeing prices ending in 9. This kind of pricing attracts more attention to your home’s listing and has been proven to work.”
Remember to think like a buyer and scope the competition out. Your agent will have a list of examples that explains what the market has to offer and what makes your home stand out. It can also inspire ideas on improvements or upgrades.
PREPARING YOUR HOME INSIDE AND OUT
For upgrades or renovations, consult your Realtor on what’s best, and remember that while some home improvements can increase the value of your property, they’re more likely to simply help it sell faster.
It’s important to make your property stand out from its peers. “Declutter and depersonalize,” says Walthouse. “Put away the personal pictures, keepsakes and artifacts. Remember, it’s about the buyer when selling your home. I always tell people to put themselves in the buyer’s shoes and what they would want to see. Don’t be too specific in your decorating tastes. Keep it very neutral and light.”
This applies to furniture and clutter inside your cupboards or cabinets as well. The less furniture you have, the larger the interior of your home appears. Have that yard sale, rent a storage unit, or call a good friend to use their garage and minimize the amount of stuff in your home. Lastly, hire professional cleaners to do a top-to-bottom scrub down.
On the exterior, make sure your yard is well-maintained. Trim the shrubs, keep your lawn manicured and, if it’s looking bare, pick up some low cost plants from your local hardware store. The little things can make a big difference.
THE MOST IMPORTANT PART
Above all, choose the right agent. You need someone who will be upfront and realistic about your home, its condition and the price you’re considering, and then helps set your expectations accordingly. In addition, you need someone who’s well connected and likable.
“It’s important to write a long, carefully worded description of your home with a length of 50-to-70 words to describe your property,” Walthouse says. “Prospective buyers want details and those extra words give them additional information that makes a home worth seeing in person. Use words such as remodeled, luxurious, landscaped and impeccable to help push up selling prices.”
Locations agents are the most knowledgeable and skilled across the state of Hawaii. Visit www.locationshawaii.com to find your neighborhood expert.
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