Selling a property can be overwhelming and exhausting. You have to deal with numerous offers regarding your property for sale and sometimes you don’t have any idea how to respond properly to an offer that works for you.
If you’re searching for advice on how to review offers and negotiate with home buyers, you’ve come to the right place. Our Maui Luxury Real Estate Team has compiled not one but four foolproof tips for you to unleash the worth of your home. With these, you’ll also learn about different strategies to sell your Hawaii property in no time.
1. Price Your Home According to its Value
Setting the best price for your property can be difficult. When you set your price higher than its actual worth, your property may take longer to sell and you may need to reduce your price, particularly when new listings come on the market that are priced lower. So, think of your home’s asking price seriously and know the factors which contribute to your final price.
The first step in pricing is researching the price range in the market within the last year. The easiest way to do this is by checking out real estate websites and setting the location to your city. You can find the asking and selling prices of different homes and features those houses offer, contributing to their cost.
By hiring a professional real estate agent with Maui Luxury Real Estate Team, you don’t have to do much because we do the all the research and can give you the information you need with a comparative market analysis (CMA). This CMA will show sold houses in the area and price point, the latest inventory of homes on the market, and the characteristics of every property sold.
In the end, always be realistic with your property value and pricing. It is important to understand your home’s worth. It is essential to understand your price must reflect the current market. Buyers follow trends so consider those trends to help set the best price for you and your potential customer.
2. Know Your Priorities
A perfect idea is to list all your priorities in selling your home before any of your offers arrive. According to experts, doing so will help you decide the best offer depending on the factors you’ve listed and considered as most favorable to your situation.
For example, if you need to sell your property because of a job relocation, then selling it quickly would be your top priority. That’s why the earliest offer can be your best option; you can immediately negotiate a closing price to align with your timeline.
Our expert Maui Luxury Real Estate Team also emphasizes how costs can be another factor to consider when dealing with offers. For example, if you receive an offer from a buyer who may request repairs, you may prioritize another buyer who has agreed not to request repairs since it could save you additional costs and time.
On the other hand, if you do a rush sale of your house, chances of attracting more buyers are possible since you’re priced competitively with the market.
However, if you can’t seem to discover your priorities immediately, you can always seek help from our REALTORS®. Just make sure to never withhold any information from your agents because they’re not only experienced but also have your best interests in mind.
3. Take a Look at the Contingencies of Every Offer
After all the preparations, you can now move on to the most crucial part of selling your home – reviewing the contingencies of every offer. Take a closer look at the possible things you need to do before you close the sale.
With Keller Williams and the Maui Luxury Real Estate team, we can provide you with a breakdown of the contingencies included with an offer, and we can explain the contingencies and weigh the risks and benefits.
In the end, contingencies aren’t always upfront — some even have strings attached which couldn’t be advantageous for you. For instance, some buyers drag out their home inspection period, which can be overwhelming for sellers who rushed to sell their property. This scenario can lead to a series of bargaining.
The REALTORS® at Maui Luxury Real Estate Team can assist you with understanding the purchase agreement and outlining the contingencies of each offer. We can answer questions about the process and identify contingencies that are typical or out of the ordinary. We will help you determine what offer fits your needs and the best way to negotiate and close on the sale.
4. Treat Every Offer with a Level Head
For the last tip, remember to keep your emotions intact and be realistic Sometimes the stress can overwhelm you, which can result in decisions you haven’t thought through. That’s why it’s crucial to do your best to be professional with accepting, rejecting, and negotiating with potential buyers. Be kind and helpful in all communication.
Whatever the reason you have for selling your property, keep your emotions in check because it can affect the decisions you make. Your real estate agent will assist you to consider all options and their respective outcomes and work to facilitate a sale that benefits your needs.
Selling your home in Hawaii takes time, energy, and effort but these four tips, along with the help of the Maui Luxury Real Estate Team, will make the process as smooth and effortless as possible. Always remember to price your property right and know your priorities. Don’t forget to take a look at contingencies buyers have with their offers and treat them with a level head. Maui Luxury Real Estate Team are dedicated to serving our clients. We know the Maui real estate market and how to best present your property.