5 Things to Know Before Putting Your House on the Market

Today’s guest blog was written by the Sakamoto Properties Team. Sakamoto Properties specializes in Hawaii luxury real estate in West Maui’s Kapalua area which offers unrivaled views of the island paradise as well as properties around the island of Maui. Sakamoto Properties have been providing clients with excellent service since 1976 and are passionate about charity work and helping non-profit organizations in the community.

Are you considering putting your house on the market?

Selling your house can be a daunting task. It’s not just about putting a “For Sale” sign in the yard and waiting for the offers to roll in. There’s a lot of work involved in getting your house ready to sell and making sure the sale goes smoothly. Here are five things you should know:

#1. Know Your Home’s Value

Before putting your house on the market, it’s important to have a good understanding of what it’s worth.

There are several ways to determine this, including hiring a professional appraiser or working with a real estate agent who can do a comparative market analysis (CMA). This will help you price your home accurately and avoid leaving money on the table.

Know Your Home’s Features and Benefits

When you’re putting your house on the market, it’s advisable to focus on its features and benefits rather than its flaws. Buyers will be looking for a home that meets their needs and wants, so make sure you highlight your home’s best selling points.

Some common features and benefits that buyers are looking for include:

• Good location. Proximity to schools, public transportation, and other amenities is often a top priority for buyers.
• Updated features. Buyers are often willing to pay more for a home that has been recently updated, so if your home has new appliances, flooring, or fixtures, be sure to mention it.
• Spacious layout. Buyers are often looking for a home with plenty of space, so if your home has a spacious layout, make sure to highlight that.
• Comfortable backyard. A backyard that’s perfect for entertaining or relaxing is a big selling point for many buyers.

#2. Understand the Selling Process

When putting your house on the market, understanding the selling process is very important.

You should know what to expect during the sale and grasp the steps involved in the process. Understand how the real estate market works, what buyers are looking for, and what you can do to make your home more appealing to buyers.

The selling process can be confusing, so it’s beneficial to have a good grasp of what’s going on.

Here are some of the most important things to keep in mind:

• The sale will take time. Don’t expect to put your house on the market and sell it overnight. In most cases, the entire process can take several months from start to finish.
• Declutter and stage your home. Before putting your house on the market, you’ll need to declutter and stage it. Get rid of personal items and put or arrange furniture in a way that makes the space look its best.
• Be prepared for showings and open houses. This means keeping your home clean and tidy at all times and making yourself available to accommodate showings on short notice.
• Be prepared to negotiate. When you receive an offer on your home, be prepared to negotiate. Don’t be afraid to counteroffer or ask for what you want.

If you’re not familiar with the process of selling your house on the market, it’s a good idea to talk to a real estate agent. They can walk you through the steps of putting your house on the market and help you prepare your home for sale. If you’re thinking, “but I want to sell my house fast” you may want to consider selling your house off market. When you sell your house “for sale by owner” you can sell your house as-is without any repairs, staging, showings, and open houses.

#3. Prepare Your Home for Sale

Preparing your home for sale is essential if you want to get the best price possible.

There are a lot of things you can do to make your home more appealing to buyers, including decluttering, staging it, and making repairs.

• Decluttering. Decluttering is an essential part of making your house look clean and professional. It means getting rid of personal items so that buyers can see what they will live in, not just visit or stay for a while before moving out again! You want buyers to be able to see your home as their potential future home, not your current one.
• Staging. Staging your home means arranging furniture in a way that makes the space look inviting and appealing to potential buyers. Make it seem as though buyers could visualize themselves living in your house by making it look its absolute best.
• Making repairs. Fix any broken appliances, repair any damage, and ensure that everything is in good working order. When buyers look for a house, the first thing they’ll want to check is if it is in good condition. Make sure that your house is working well before you put it on the market.

#4. Find the Right Real Estate Agent

One of the most important things you can do when putting your house on the market is to find the right real estate agent. They will be able to help you through the entire process, from preparing your home for sale to negotiating with buyers.

Here are a few things to keep in mind when choosing a real estate agent:

• Experience. Make sure the real estate agent you choose has experience selling houses in your area. They should be familiar with the market and should know how to price your home correctly.
• Reputation. Choose a real estate agent with a good reputation. Ask friends and family for recommendations or check online reviews. Make sure you’re working with someone professional and trustworthy.
• Communication. Can the agent communicate effectively and answer all of your questions? Are they easily accessible? A good agent will make themselves available to their clients and will be happy to answer any questions you may have.
• Marketing. How will the agent market your home? Does the agent have a solid selling strategy for your home? Make sure they have a concrete plan to market your home to potential buyers.
• Pricing. Does the agent have a good understanding of pricing in your area? They should be able to help you price your home competitively.
• Negotiation. Is the agent a good negotiator? Does the agent have a good track record of negotiating on behalf of their clients?

#5. Set the Right Price

Setting the right price for your home is key to getting it sold.

Psychological studies have shown that we have a tendency to overvalue things we own, especially things that we may have a strong emotional attachment to, like a home where many wonderful memories have been made.

Be very careful to not let personal feelings influence your asking price, as prospective buyers won’t have the same level of attachment to your home.

If you set your home’s asking price too high, it may exceed what potential buyers are willing and able to pay, and you might end up not getting any offers at all. The longer a home sits on the market unsold, the harder it becomes to sell it.

Work with your agent to come up with a competitive listing price for your home.

To get started, your agent should perform a market analysis to find out what houses in your area have sold recently. This will give you a good idea of what your home is worth. Once you have an idea of your home’s value, you can start setting a price.

Here are a few things to keep in mind in setting the right price for your house:

• Check recent sales in your area to get an idea of what your house is worth.
• Consider how long your house has been on the market and how much you’ve spent on repairs and improvements.
• Pay attention to the real estate market overall. If it’s a buyer’s market, you may need to be more flexible on price.
• Be aware of your competition – what are other houses in your area selling for?
• Understand your closing costs and how they will affect your overall profit.
• Be prepared to negotiate with buyers who make offers on your house.

Bonus: Be Prepared for the Unexpected

No matter how well you plan, there is always the potential for unforeseen complications during the selling process. Be prepared for the possibility that your home may not sell as quickly or for as much as you hoped.

It’s also a good idea to have a backup plan in place in case you need to sell your home quickly. Typically, the fastest way to sell a home is directly to a professional home-buying company. You can even sell your house fast online without leaving the comfort of your couch!

Conclusion

Selling your house on the market can be a complicated and stressful process. However, with careful planning and guidance from a professional, it can go more smoothly. Keep the tips in mind to make sure your house is ready to sell. Choose the right real estate agent, set a competitive price, and be prepared to negotiate.

With careful preparation and a good strategy, you can sell your house on the market with confidence and ease.