Choosing to sell your home in Hawaii can be a big decision. There are a lot of things to consider. You want to find the right buyer that will love your home as you have. But for some, a bigger decision is deciding between listing your Hawaiian home with a realtor or taking a crack at it yourself. The do-it-yourself option is certainly appealing and comes with its own set of benefits. Let’s face it; nobody knows your home better than you. But also consider this: why do the vast majority of buyers and sellers choose to go with a real estate agent?
Things to Consider When Selling Your Home
Regardless of whether you choose to sell your home yourself or let someone else do it for you, there are several things every seller should consider. Let’s take a look at some of the advantages and disadvantages of going both routes. Then you can decide for yourself which is better: the DIY method or having a professional do the heavy lifting for you.
How Much Time Do You Want to Spend on Your Home Sale?
A perk of deciding to sell your home is that you get to make the decision as to how involved throughout the sales process you want to be. If you are considering the FSBO (for sale by owner) route, you will be taking the reins trying to find potential buyers, marketing your home, and listing it with various online real estate platforms.
Money is always a factor when it comes to selling something. The reason some buyers opt not to use a realtor boils down to not wanting to pay them a commission. But have you considered other costs of selling? Time is certainly something to consider, especially if you want to do it yourself. Calling potential clients, scheduling showings, and creating online or physical advertising can be quite disruptive to your regular routine.
What About Marketing, Negotiating, Market Analysis, and Optimum Market Presentation?
Selling your home yourself will give you control over whom you allow access to your home and who you ultimately sell to. However, one pitfall that many homeowners face is that they lack objectivity with respect to price. You’ve spent countless Sundays, celebrated numerous special occasions, and put all your love into making your house your dream home. But selling sometimes requires you to think about how others view the space.
Here is one area where a realtor can shine. A good realtor will provide an accurate home value based on a comprehensive market analysis to help you arrive at the right listing price. The goal is to make sure you’re pricing your home in the sweet spot—not too high so that you are turning off potential buyers, and not too low so you are leaving money on the table.
Home Sales Using Realtors Sell For More
Even if you’re not up for a full home makeover, good realtors have an eye for detail and can recommend simple, budget-conscious swaps that can translate into real dollars when it comes to negotiation time.
Good realtors are also expert negotiators and will come to the table with a comprehensive marketing and market presentation strategy. This isn’t just my opinion; the facts back it up. According to the NAR (National Realtors Association), in 2018 the average home sale price with FSBO was more than 25% lower than for people who used a realtor.
Do You Need An Expert to Make Sure You’re Legally Covered When You Buy or Sell?
Not only are realtors competent salespeople, but they are also experts that can handle all the required paperwork, completion of legal forms, and ensure compliance with specified disclosure requirements. This is perhaps one of the biggest reasons to go with a realtor. Real estate in Hawaii is highly regulated, so if you do decide to do it yourself, just make sure you do it right and learn all the laws so that there aren’t any unforeseen legal consequences. Keep in mind that there are laws regulating how you market and list your property, what disclosures you must make about your home, timelines, and wording on your contract all have legal consequences, and much more.
Quality Realtors Add Value
Selling your own property here in Hawaii may be a good idea for some, but for the vast majority, you’ll be much better off to have a realtor do the heavy lifting. Here’s the key, though, as in every profession, some people are better at their craft than others. Is a poor agent worth the money? Maybe not, but the good ones earn their keep, they add plenty of value in buying and selling your home, and yes, they are worth every penny.
Want to Know More?
Whether you are new to real estate or you’ve been doing this for a long time, Hawaii is different than most other states. Getting help from an industry expert is really the best way to go. If you ever have a specific real estate question, just send me a quick email, call, or text. I love talking real estate, and I’m happy to help, no strings attached.
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Aloha,
Tom
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