What You Need To Know About Selling Your Home This Summer
The days are heating up, and so is the home-selling season on Oahu. With school out, many potential homebuyers are out in full force, too. If you’ve been thinking of trading up to a larger home, or even downsizing in anticipation of retirement, now may be a great time to showcase your home. Here’s what you’ll need to know about the home-selling process.
How to choose a REALTOR®
If you don’t already have a REALTOR® in mind, you may want to begin your search by asking family or friends who have recently sold a property which REALTOR® assisted them. Because selling a home is a complex transaction, you’ll want to look for an agent who is experienced in representing sellers. You’ll also want to look for an agent who has received extensive training in pricing and marketing properties.
What are the costs involved in selling a home?
Sellers typically don’t incur any fees until their home sells. These fees can vary depending on the type of property and what is negotiated in the sale. Your REALTOR® will provide an estimated closing statement to give you a clear picture of what is to be paid as part of the sale. Some seller costs may include:
• A portion of the escrow fees
• Termite inspection
• Survey
• Sales commission
The listing agent’s role
As a seller, you’ll work with your REALTOR® (the listing agent) to develop a marketing plan to attract as many potential buyers (and buyers’ agents) as possible. Your REALTOR® might use some of the following methods to market your home:
• Properly pricing the property
• Internet advertising
• Newspaper advertising
• Yard signs
• Emails to potential buyers who have already expressed an interest in a property like yours
• Emails to agents who represented previous buyers in your neighborhood or condominium
• Brokers open houses
• Public open houses
• Special open houses for neighbors
Factors that may influence pricing of a home
Of course, you’ll want your home to sell for the highest price possible, in the shortest amount of time possible. Factors that can influence the price of your home include:
• Current real estate market conditions
• The expertise and market knowledge of your agent
• Characteristics such lot size, square footage and condition of your home
• Desirability factors, such as location, special amenities and property attributes
• The appearance of your home
• Recent sales prices of comparable homes in the area
• A sophisticated real estate marketing plan
• Your level of motivation
The seller’s role
As a seller, there are several ways in which you can positively affect the sale of your home, including:
• Maintaining the property
• Ensuring property is available for showings and open houses
• Communicating with your agent
• Securing (or temporarily relocating) pets
• Limiting conversations with prospective buyers and other real estate agents
Getting started
To get an accurate estimate of your home’s value, visit web at LocationsHawaii.com/LHV. Visit LocationsHawaii.com to learn more about the home-selling process.
Photo courtesy of Locations
See More Listings