So the title of this post is one of those "It goes without saying" sort of statements, but the title refers to something you might not expect! While making a career in the real estate business can be challenging for many reasons, none of which we'll explore in this blog today, the "hard work" I'm actually referring to is that of the seller. Allow me to explain.
When a seller decides that it is time to put his/her property on the market there are many considerations, and they are all very important! The first, and perhaps the most important consideration is choosing the right agent. A seller should always decide, right from the beginning, that he/she will interview at least 3 agents to find out which one has the best plan to get to the desired result, and that is to sell at the highest possible price in the shortest amount of time. The interview process may take a few days or even weeks to accomplish, but in the end you will have made a decision on which agent best understands your objectives and can provide the best possibility of meeting those objectives. Once the agent is selected, you're just getting started! I told you this is hard work!!
The second consideration is how you will prepare your home for market. A seasoned agent can provide you with ideas on how to make your property more appealing to prospective purchasers. This may mean undertaking significant renovations, painting the interior / exterior, landscaping improvements or it may just mean staging your home properly. The degree of preparations and the cost will largely depend on how well you have maintained your property up to this point. Preparing your property for market is closely correlated with how much you can sell it for. More hard work? Perhaps, but with the right advice it's well worth it!
Another consideration is pricing your home for market. While this work may not make your back ache and your knees wobbly, this part can take a large mental toll on you. Once you have agreed on what preparations are to be done your agent will have an idea of what the "finished product" might look like. If you choose not to renovate that kitchen you probably won't be able to get that "home with a new kitchen" price. If your flooring is outdated, don't expect to compete neck and neck with your neighbor down the road with the new hard wood flooring. You and your agent should have an honest discussion about what you do have and what you don't have to offer and develop a pricing strategy that is honest and consistent with market expectations. Hard work? Not as hard as it could be if you don't work through this process with your agent.
Lastly, once you have hired the best agent, prepared your property to the degree that you can and priced your property within market expectations, you must make sure that the property is available to be seen! I know this may sound strange, but many owners only want to show their property when it is convenient. "I can only show during the week on my lunch hour" or "I can only show after 6:00 p.m. on weekdays" are all ways to prolong the selling cycle. Properties that are available when the buyers are available have a much better chance at selling! Insisting on being at every showing not only has the potential to turn off prospective buyers but increases your work load! If you have established a working relationship with your agent, which surely you have by now, you should place your trust, and a key, with that agent.
As you can see, selling real estate is hard work, but with the right agent and the right plan you can minimize your work load and stress and get to your goals much more quickly! For more information on selling real estate in The Bahamas, visit my personal website at www.ZacksIslandProperties.com. I can't wait to hear from you!