Epik Realty's Ultimate Guide to Selling Your Hollywood Home

Every seller dreams of a simple, stress-free sale. But simplicity is rarely the case when you’re negotiating a complex luxury real estate market with a range of different buyers. Selling a Hollywood luxury home may not be easy, but there are strategies you can use to encourage a smooth transaction and avoid setbacks.

If you’re ready to sell in Hollywood, consider the following guide as you navigate the pitfalls of the Los Angeles luxury real estate market.

Selling Hollywood real estate is unique, and the process should begin by finding the best real estate agent to represent your interests. Industry experts suggest that an overwhelming majority of consumers consider local market expertise as among the top requirements when working with an agent — whether you’re a seller or a buyer.

Your Hollywood real estate agent must be an expert on luxury market trends throughout LA and have insider knowledge of your specific neighborhood. A real estate agent’s understanding of your home’s unique qualities will be essential when marketing your home. Market knowledge will help your property stand out to qualified buyers and successfully compete with other luxury homes nearby. Hiring an agent with local, contemporary market expertise is a critical first step in getting the most favorable outcome when selling your Hollywood home.

The amount of time it takes to sell your Hollywood home is primarily based on market conditions — but typically, it takes anywhere from two to four months. However, your real estate agent may have pre-listing recommendations that could delay your timeline.

Before listing, sellers should always consider a pre-sale home inspection to identify areas needing repair. Allowing enough time for the inspection and for the necessary work to be completed to facilitate a sale are significant factors in your timeline. You’ll also want to allow enough time to complete a checklist of items before listing.

This list may include:

 

Before considering costly upgrades, be sure to research whether those upgrades will yield a high return on investment (ROI). Many sellers don’t realize that selling a home doesn’t require you to make major repairs or improvements to receive high offers — and that only some upgrades truly pay off in the short term.

Consider where inventory levels are in your neighborhood before diving into upgrades. In a competitive market, many buyers won’t focus on minuscule features, such as whether a home has new granite countertops or the latest smart home gadgets.

The goal is to make your home ready to list, but not invest heavily in improvements or upgrades that will only stand to help you break even — or in some cases, lose money. Your real estate agent will help you identify the best ways to get your home ready to list.

An experienced real estate professional should understand what Hollywood real estate buyers want. Updates to the kitchen and bathrooms are typically where sellers see the highest ROI — but this is, of course, subject to the materials and craftsmanship of the specific updates. Frequently, a home will only require minor updates, including a fresh coat of paint or more contemporary fixtures throughout, to make a significant impact.

A home’s online appeal can’t be underestimated; buyers will likely form their first impression of your home via its website or digital listing. Your real estate agent should connect you with an experienced photographer to maximize online appeal through high-quality photos. Staging will also be significant in showing your home in the most favorable light.

Your home’s online impression will likely be the difference between your home selling quickly or sitting on the market waiting for a buyer. A professional photographer with a strong portfolio will use their skill to make rooms appear larger, brighter, and more attractive. Staging and photography work in tandem to reflect how well you’ve cared for your Hollywood home for sale. Investing in good staging and great photos will allow you to emphasize your home’s features while downplaying its flaws.

Sellers are smart to take advantage of a competitive market, but it’s important to understand buyers won’t want to pay more than what comps show. This is why pricing right is so critical.

Pricing a home too high risks losing out on prospective buyers, while underestimating your home’s value could cause you to lose money. Your real estate agent will help you understand your neighborhood’s comps to offer a realistic price point. A frequent misstep many sellers make is pricing a home too high, only to have to lower it periodically under the false assumption it will yield the highest return. The reality is that homes priced too high with frequent changes don’t appeal to many buyers because it gives the impression that something is wrong with the home’s condition.

Pricing accurately based on the market will eliminate the need for multiple reductions. Most importantly, setting a realistic price will attract the most well-qualified buyers to get your home sold quickly.

Once your Hollywood home is officially on the market, the goal is for offers to immediately begin rolling in. Your Hollywood real estate agent will provide valuable insight and help you make the most informed decisions and negotiations for each new offer.

Your real estate agent will also help you weigh factors such as whether your neighborhood market is growing more competitive, if you should anticipate multiple bids, or if sales are slow in your area. You need to open yourself up to buyer contingencies.

If you’re interested in exploring Hollywood or Beverly Hills homes for sale, contact Erik Rojas of Epik Realty today! Erik is an outside-the-box thinker whose team believes in putting people first. They’re the perfect partners for your home selling journey.