The process of selling a house may sound simple, but the emotional grind can be draining. Your real estate professional can act as the buffer from all of the stress. They can help steer you away from the bad decisions you can make along the way before closing the sale. Here are some of the most common pitfalls you should avoid:

1. Emotional selling

Selling your house, especially one that you have grown attached to and have lots of memories, can very much affect the way you sell. You may want to sell to someone who has no intention to renovate, so in your mind, the property’s structure would still be intact. You may even sell to a friend for less than the price you intended. You may opt to sell at a loss for a quick sale if you need the money for an emergency. Many factors can make this sale something to regret if you let your emotions get in the way. When you decide to sell your property, you should have a clear and level head as much as possible. Having a REALTOR® can prevent you from making these emotional decisions and keep you focused on selling your house at the highest possible price in the shortest amount of time.

2. Selling at the wrong price

Pricing your property competitively will generate the most activity from agents and prospective buyers. Pricing your property too high may make it necessary to drop the price below market value to compete with new well-priced listings. We recommend setting the price of your property using the comparative market analysis (CMA) as a basis. The CMA estimates the value of a home or property based on similar properties in the immediate area. A CMA report will usually include the following data:

• Research on other comparable properties nearby
• The properties that are currently listed for sale and in escrow
• The sales prices of the other comparable properties
• Average Sale prices in the neighborhood
• The property’s square footage

When you hire a real estate agent with Maui Luxury Real Estate Team, we will provide a CMA of properties similar to yours. We are experienced at providing you with a CMA. If you are interested in finding out what your property is worth in today’s real estate market please contact us.

3. Making the wrong repairs

Each home listed for sale should be presentable to get the highest resale value. Properly working faucets, non-leaky roof, workable kitchen—all these can add value to your home. For added aesthetics, you can have the walls repainted, add landscaping or remodel the bathroom. Remember that not all repairs are necessary. It is better to consult with an expert to know which parts of the house need work and which ones can be left alone or fixed with minimal repairs.

4. You failed to give a full seller property disclosure

A property disclosure is a crucial legal document that can save you a lot of trouble after selling your home. This document will disclose to the buyer all known defects of the house. With this document, they agree to buy the property even with those defects. The danger is that the buyer can demand a considerable amount of money if they find significant defects in the house, like a crack in the foundation or destroyed pipes.

Benefits of working with an agent

Members of the National Association of Realtors uphold the Code of Ethics. Real estate agents that do so are known as REALTORS® and are held to a higher standard of conduct and fiduciary responsibility. All of the agents of the Maui Luxury Real Estate Team are REALTORS® and follow the guiding principles of the Code of Ethics. Good, experienced agents will have your best interest at heart and will sell your property at a competitive price. It will save you the trouble of compiling and analyzing a CMA. They understand marketing skills and know where to look for buyers, so selling your property is more efficient. They will guide you through the process of listing, marketing, reviewing offers, opening escrow, and follow through until the sale has closed. Having an agent can give you a third person’s perspective when making decisions. They do not have an emotional attachment to the property and therefore, when selling your property, the process is impartial. A real estate agent can assist prospective buyers by addressing questions and concerns up front. They can screen the buyers to help determine whether or not they are qualified. They are familiar with the documentation of home selling so that paperwork will flow faster. If there are any glitches during the process, their experience provides solutions and troubleshooting.