Are you or someone you know thinking of selling a home in 2023? Here are 5 rules to help you get ahead of today’s market.
1. Understanding the Market and Come up with a Game Plan
Benjamin Franklin said it best, “If you fail to plan, you plan to fail”. Knowing the current and most recent conditions of the real estate market is crucial for understanding what a home might sell for and how quickly the entire process may take. Questions such as, “How many homes are currently listed for sale in our neighborhood?” or “How many offers did Mrs. Okada’s house down the street receive?” and “What are today’s interest rates at?”. Knowing the answers to questions such as these will keep you informed for the transaction ahead and allow you to strategize and game plan a successful home sale.
2. Fix and Repair
Homes with the best presentation, condition and appearance will always command a premium. There’s a lot of variables but focus on the repairs and improvements that will help your home compete against the comparable ones in your area. Common projects such as curb appeal enhancement, re-painting, flooring replacement, modernizing plumbing and light fixtures and kitchen updating are the best for ROI (return on investment). However, every home and neighborhood are different from one another so talk to a real estate professional for recommendations on which projects make sense. Here is a video of me discussing not to overlook a home’s curb appeal when gearing up for a home sale.
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3. Professional Cleaning
Most home sales are negotiated with the Seller providing a professional cleaning at the end of a sale. My recommendation is to hire professional cleaners up front so the home sparkles and shines when buyers come to tour the property. The old saying “you never get a second chance to make a first impression” matters when selling a home. Doesn’t it feel nice to come home to a clean house? It’s the same for buyers too. Pro Tip: plug in a scent diffuser to please the olfactory receptors!
4. Staging is a Must
There is no doubt that home staging will make it much easier to attract potential buyers, sell in a quicker period and sell for a higher price. Staged homes help potential buyers develop a deeper emotional connection with the property, and better visualize their new life in their future home. Statistics show that homes that are staged sell 73% faster than those that are not staged, and that the ROI can be up over 550% of the staging cost. In my experience, staging normally costs $2,000-$5,000+ depending on the size of the home.
5. Specific Marketing Strategy
Did you know that 96% of all homebuyers used the internet in their home search and 65% of all website traffic comes from mobile devices? These days, most listings get viewed for the first time on social media channels like Instagram and Facebook – making quality professional photography and video more important than ever before. That is why it is critical to work with an agent who utilizes vertical cinematography and photography and stays up to date on every changing social trend to market your home.
Don’t skimp on the printed material either. Glossy, heavy-weight brochures communicate quality and a good first impression. Geographical, just-listed announcements mailed to your neighborhood also has its benefits.
Looking to sell your home? With success helping Hawaii homeowners sell their home I know the power of properly preparing a home to hit the market. That is why my team of vendors and I go the extra mile to coordinate all listing prep on our seller’s behalf – including deep cleaning, decluttering, disposal/hauling paint touch up, carpet cleaning, etc. I also pay for high quality photography, listing videos including vertical video, deep cleaning, and 30 days of staging for all listings. As well as customize a complete marketing strategy specific to every home and outline a detailed listing plan so everyone is on the same page from start to finish.
Call or text me for a complimentary market analysis to see what your home is worth or check it out here. HOME VALUE
Travis L. McGaughy | (808) 542-6540