SELLER TIPS – Selling a Property 101

“How come you’re not stressed?” a client asked me the one day. Things were exploding all around me, but stressing along with the client wasn’t going to solve anything. I needed a clear vision and a plan to deal with what was happening. Staying emotionally unattached to the property allowed me to connect all the dots. In any real estate transaction—and trust me, I’ve worked with hundreds of buyers and sellers—there are almost always hoops to jump through.

Sometimes the issues are minor, but more often than not, complications are big enough to derail the entire transaction if not handled correctly. That’s why over the years, I’ve had a few For-Sale-By-Owner Sellers reach out to me for assistance when they found themselves quickly sinking in uncharted waters.

As a real estate professional who deals with these matters daily, problem-solving in real estate is second nature to me. I’ve either encountered the issue before or I know exactly who to turn to for help. I have the connections, and I surround myself with a team of professionals who help me power through challenges.

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Choosing the Right Agent

Sellers must do some research before hiring a real estate agent. Google the agent, check out their work history, and review their social media presence. If you don’t see anything impressive, move on. Not all agents are equal. Experience, like in any business, is important. A real estate license only takes a few hours to obtain, and much of it is about rules and regulations. Real, hands-on education happens on the job. Every sale has its own challenges, and there is no formal education that can prepare anyone for the crazy situations that can arise with properties and people.

Every sale is a learning experience, and that knowledge accumulates over the years. That said, there are exceptions to the experience rule. New and hungry agents can be very effective if they have the right support. They may lack knowledge, but with proper guidance, they can navigate challenges and may also have more time for the Seller. Conversely, agents who have been in business for years but aren’t keeping up with the current real estate environment and education won’t have the knowledge and skills needed to compete today. Choose the person who is the best fit for you and will best help you with your sale.

Detach Yourself from the Property

People sell their homes and condos for many reasons—upsizing, downsizing, buying a second home, or making an investment. In all of these scenarios, the end goal is to sell the property. Once you’ve decided to sell, it’s important to shift your mindset from homeowner to seller. The key difference is that as a Seller, you need to detach emotionally from the property.

It’s hard, but removing emotional attachment is crucial. Focus on the process of selling the property and preparing it for the next owner. Here are some actions you can take to help with the selling process:

• Declutter and clean.
• Depersonalize and make the space as neutral as possible, so buyers can imagine their belongings in the home.
• Refresh if necessary with new paint, fixtures, etc.
• Stage the home—either with your own furniture, by hiring a stager, or through virtual staging.

Dangers of Overpricing

Price the property according to the market. An experienced agent will explain current market conditions and know the comparable properties. Buyers are savvy. If the property is overpriced, they won’t even bother to look, let alone make an offer. Overpricing leads to missed opportunities. The “let’s price high and negotiate” strategy is flawed. As a Seller, you risk fewer showings, and the Days on Market will accumulate, leading to a stale listing. At that point, buyers start to wonder, “What’s wrong with this property?” which further decreases interest.

Buyers love new listings and are online daily looking for them. Listings fatigue sets in when the same properties appear repeatedly. They eventually start ignoring those listings. Well-priced, fresh listings get the most views online. This two-week window is the best opportunity for sellers to get exposure. Interest drops the longer the property sits on the market. Not every property will sell in two weeks, but the goal is to generate as much interest as possible early on for maximum exposure.

Professional Photography

There’s no excuse for not using a professional photographer. Your listing needs to stand out online. Photos are the buyers’ window into your home, and bad photography leads to fewer showings. When researching an agent, look at their previous listings or request samples. If the pictures are poor, that’s a red flag for the rest of the marketing.

If a property is supposed to have a beautiful view, yet the windows are all white and blown out white, that’s a huge disservice to the seller. Bad pictures often miss critical features, like a stunning view. Do you want that to be the representation of your property? When using a cell phone or an amateur camera, the view out of the windows is often white, or the interior is dark, as the camera cannot capture indoor and outdoor lighting simultaneously.

What a difference professional photography makes. This is what gets Buyer’s through the doors to see the listing.

Video, Drone, 3D, Tours, Floorplans

At least one of these add-ons should be included with the listing:

• Video
• Drone photography/video
• 3D Virtual Tours
• 2D Floorplans

All agents now have access to these features, whether through their company or an outside vendor. The MLS has a limit on the number of pictures that can be included with each listing. A property walkthrough video is an amazing way to take people into the house and make them feel like they’re there. It allows potential buyers to get a sense of the true layout, especially in large homes, and see details not always captured in photos.

What Does the Internet Strategy Look Like?

Don’t hesitate to ask the agent about their online marketing strategy. With most buyers starting their search online and continuing to use the internet throughout the transaction, the agent you choose should have a strong online presence and a well-crafted online marketing plan. Placing the listing on the MLS is NOT enough in today’s competitive real estate environment. You may ask:

• Do you have a personal website, brokerage website, active social media accounts, or a blog (like the one you’re reading now) where my listing will be promoted?
• Where else will my listing be visible to potential buyers? eg. Specialized luxury advertising

Other Types of Marketing

What are some other ways the property will be promoted? This can include mail advertising, agent-to-agent advertising, company promotions, open houses, broker’s opens, personal connections, etc. There are many ways to spread the word out about a property. Online is the quickest and generates the most views, but traditional advertising shouldn’t be overlooked.

Conclusion

As a Seller, gather all the information upfront before the “For Sale” sign goes up. If you have questions about Oahu real estate, please don’t hesitate to contact me.