Getting Your Property SOLD!
People often ask me about the real estate market. Usually, their question is, “How’s the market?” I usually qualify my answer, because no two neighborhoods are the same and no two houses are the same. If you are wondering about the market, you might be better off asking, “How’s the market in my neighborhood?” Whether you are buying or selling, you’ll want to know the specific data pertinent to your geographic location and price range. You’ll want to know about trends, market conditions, days on market, pricing, competition, and a whole lot more.
Recent Home Sales
This year, I’ve sold several homes in several different geographic locations. One such property was a single-family home in Ewa Beach (MLS #202219925). It took a while to sell, as the Ewa Plains saw a marked slowdown after multiple interest rate increases. With more inventory than other parts of the island, it was several months before the property went under contract. But, it did sell and at a good price — $1,050,000, which was about 96% of the list price. I sold another property in Makiki (MLS #202302065), which closed this month. It was on the market for less than a week and it received multiple offers. It was a well-priced studio and it closed at a sales price of $225,000, which was $10,000 over the list price.
Two other properties come to mind — one in Hawaii Kai (MLS #202300479) listed at $875,000 sold for $875k — 100% of the list price. Another property in Punchbowl (MLS #202218952) sold for $1,595,000. It took three months to sell and ultimately sold for $100,000 less than the list price.
No Two Real Estate Cases Are Alike
Why do I share these examples with you? Because, each property experienced different market responses and each Seller represents a unique real estate story. No two experiences were alike. So, what will your story be? In large part, your story will be the result of the decisions you make.
You can’t control the market, but you can control your decisions. And, the decisions you make will become a large part of your real estate story. Who will you hire to represent you? How will your home be marketed? Will you price your home at a price that is competitive and reflective of today’s market? Will you do everything you can to make sure your home presents well? And, will you follow the advice of a seasoned professional?
No one can control outcomes, but we can control processes. Fortunately, the Sellers I represented in the scenarios above are all happy with the service they received and their individual outcomes, even though some of the properties took a bit longer to sell. In each situation, a myriad of factors combined to create the outcomes, though pricing did play a significant role in how long the process took. It.Always.Does.
Getting Your Property Sold
So, how’s the market? It depends. It depends on your property, your neighborhood, and your price point. What’s my advice? Know.Your.Market. Listen to a professional and price your property correctly from the outset. There are three things that will get your property sold — proper pricing, presentation, and promotion. Good pricing is critical. How your property shows matters, too. And, of course, great marketing is essential!
At Hawaii Life, we have a network of 350+ agents and 22 Hawaii office locations. Our in-house design and marketing services, combined with our highly trafficked real estate website, HawaiiLife.com, provide powerful and effective ways to market and sell your home. Our outreach through social media, PR and direct marketing, plus our international affiliations with Forbes Global Properties and Luxury Portfolio, can give your home maximum exposure. We can help you prepare and stage your property, guide you on pricing, and market your home to achieve the highest and best results.
We may not be able to control the market, but we can control the process through our unique strategies and smart marketing (Smarketing). And, we can get your property SOLD!
March 31, 2023