Sell your home
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Want to Sell your Home in the Cayman Islands?
When selling your home, there are no guarantees that a buyer will simply walk through the front door. There are steps that you need to take so that your property receives maximum exposure to attract a ready, willing and able buyer.
The appearance of your home, a buyer’s first impression, and other considerations can also affect the sale of your home. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home? In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your home is sold in a timely manner at the best price.
Selling your home is a major decision that is not to be taken lightly. It can be quite an undertaking, sometimes confusing and complex at the best of times, particularly in today’s real estate market and I have a great deal of respect for anyone trying to navigate the current real estate market in Cayman whether it’s luxury real estate on Seven Mile Beach such as The WaterColours, Water’s Edge
or canal front land in Governors Harbour or Crystal Harbour for the boaters in us.
Somebody once said that “luck is where preparation and opportunity meet.” I believe this is true, especially in the business of buying and selling homes—that’s why I spend a lot of my time learning about market trends, area features and specific property information.
I specialize in listing and selling homes in Cayman (20 years in Cayman). As such, I have a lot of great resources to help you market your home. In today’s buyer’s market a wealth of information is available to prospective buyers, buyers very often take the services of other realtors (no cost to the buyer) which increases this wealth of information available and sellers face very well-informed buyers.
I have a great deal of knowledge and experience in a number of areas that can make a real difference in selling a home. Expertise ranging from market analyses to establish a selling price, to simple repairs and improvements or proven “staging” techniques to show a home in its best possible light, can translate to quicker sales and better purchase prices. Additionally, knowing what home buyers both living in Cayman and visiting Cayman are looking for enables me to present and market your property in a way that highlights their strongest selling points, while downplaying any flaws.
The same is true for the established advertising and marketing tools and strategies I employ daily to gain the highest visibility in a far-reaching market. The Internet has long eclipsed magazines and newspapers as the #1 source prospective buyers turn to when looking for a home. In fact, nowadays over 90% of home searches begin online, making the development of a compelling Web presence a top priority for anyone wishing to sell real estate. I understand more than anyone the importance of marketing properties online having an extensive and successful background with this. As part of my custom-tailored approach to real estate marketing, I have created a comprehensive Web presence for every home I list under a well respected brand and a weekly newsletter reaching over 20,000 people who have agreed to received this information on real estate and forward it along to their friends and family.
Did you also know that most For Sale by Owners properties are priced incorrectly? Let me take a moment to explain why setting the right price from the start is critical if you’re trying to sell your home for top dollar in a reasonable time frame.
Many homeowners believe there’s no harm in erring on the high side when pricing their home. After all, you can always lower the price if the property doesn’t sell, right? While true, remember that interest will be greatest when your home is new on the market. If not priced competitively, many potential buyers won’t even take a look at your property, and recapturing their interest later on can be difficult. The longer your home remains on the market, the less likely it is to sell for a good price. Some buyers actually question their own taste when attracted to a property that’s been sitting on the market for many months. As a result, homes that were initially overpriced frequently end up selling for below market value and 90% (fact) are then listed with a realtor. Why go through all this?
One of the best known and widely used methods for determining a value to either to sell or to buy a home is through a CMA or Comparative Market Analysis.
A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace for sale and homes that didn’t sell. I have access to all this information to gain a thorough understanding.
The first thing I would need to do to provide you with a CMA is to inspect your property. Generally, this inspection won’t be overly detailed, nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that I will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform me at this time to talk them through and in fact if there is any benefit to these changes.
The next step is to obtain the data on comparable properties. This data is usually available through MLS (Multiple Listing Service), Lands Registry Services, but I will also know of properties that are on the market or have sold without being part of the MLS. This will give me a good idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it’s used to see if the intended changes will “over-improve” their property compared to others in the neighborhood.
If you are interested in selling your home and would like to discuss the benefits of working with me, call or email me for a no obligation consultation and a FREE CMA Report that allows you to explore your options.