Walkthrough of the Real Estate Sales Process: From Listings to Closing

Selling a home can be tricky, and even if sellers take the time to prepare their Kapolei real estate, they’ll likely need the help of a local agent to list their properties online. When your property is online, it’s important to boost visibility through multiple marketing strategies, then confidently negotiate with buyers to close on an offer. Before listing your home in Kapolei, here’s what you need to know as a seller entering the local market.

Currently, trends across Oahu are cooling, which sellers should be mindful of when pricing and marketing their properties. Single-family home sales have decreased by 41.7%, with inventory increasing across most home price points. The median sales price for properties has increased by 5% for single-family homes and 4% for condominiums. The rate of increasing prices is slower than it was last year, another indication of a cooling sellers’ market. With this information in mind, here’s how to list and close on your home.

When working with a licensed, professional agent like Fran Magbual, the first place they’ll list your property is on a local MLS. The MLS is a platform used by buyers’ and sellers’ agents to share property listings in the area, providing the widest range of options of what’s available for their clients. For sellers, an MLS listing provides significant exposure. Oahu’s MLS is separated into 12 different regions, of which Honolulu has three.

To create a successful MLS listing, an agent will take professional photos of your property's interior and exterior. Before scheduled photographing, they’ll help sellers prepare the home by suggesting staging and repair tips. Then, an agent will create a captivating listing description highlighting your property's features and the surrounding location.

Another integral part of an online listing is the listing price. Pricing too high can deter buyers from making an offer on your property or make the listing difficult to find when using price range filters. An agent will make a comparative market analysis to price your home competitively, using market data of similar home sales.

When your property is listed online, take steps to market your property using online and offline strategies. Agents promote a home listing online by putting the listing on their professional website, as well as using social media like Facebook and Instagram, which have high traffic throughout the day. They’ll also create virtual and digital resources for buyers who can’t visit a property in person due to travel or time constraints.

An agent actively seeks out interested buyers, using tools like their network of connections with other buyers’ agents in the area. When a buyer shows interest, a seller’s agent schedules home showings and lets their client know with enough time to prepare the property. An agent will also host in-person events like open houses, advertising the event online to generate local interest and managing the event themselves. As not all buyers are internet savvy, using physical signage, local flyers, and other offline advertisements is also important in a marketing strategy.

When marketing for Kapolei homes for sale takes effect, a seller will start receiving offers on their property. An agent will help you check if a buyer is qualified to make the offer they’re proposing, reviewing their financial history and proof of funds. Checking qualifications save time and disappointment further down the sales process. If a seller likes the offer a buyer makes, they can accept it as is and continue onto the closing steps.

If a seller doesn’t agree with the terms of the offer, they can either reject the offer or make a counteroffer. Elements of an offer that can be negotiated include the form of payment (cash versus a mortgage), the offer price, contingencies related to a home inspection or buyer’s home sale, the closing date, and the down payment amount, among other things. Provide a timeframe of two days or less for a buyer to accept, reject, or make a counteroffer.

When a seller has come to an agreement with a buyer, the final step is to complete the closing steps. If included in a buyers’ contingencies, sellers will have to pass a home inspection before closing on the sale. If a home inspection reveals serious problems, a buyer may back out or renegotiate the terms of the sale. Buyers that finance with a mortgage will also require a home appraisal to finalize their loan. Problems can arise if the property appraises for less than expected.

A seller should also gather important documents like a government ID, a home deed, tax records, mortgage documents, and other paperwork related to a sale. An agent can tell you what you need before closing on a listing for Kapolei houses for sale. They’ll also explain the documentation that needs to be signed to finalize the sale. At this time, a seller should pack their belongings to have the home clean and empty for the final walkthrough.

Listing and closing on a property can be complicated, but with this walkthrough of the real estate sales process, you’ll know what to expect when selling your home in Kapolei. An agent is an invaluable asset to have when it comes to obtaining access to the MLS and tools like the comparative market analysis. They’ll also know how to market your home and can guide you through negotiations and closing steps. When you’re ready to start your home sale, contact experienced local agent Fran Magbual to help you through it.