|
Seller Expectations: One Couple's
Story
Andrea and
Dean found themselves in a situation they didn’t expect: Dean’s company
was relocating him to a different state and the couple had to move.
Although they were both excited about moving, they hadn’t been paying
attention to the real estate market lately and weren’t sure what to
expect.
Fortunately, they were able to enlist the services of Vicky, a real
estate agent who offered them excellent advice about how to be a seller
in a buyer’s market.
DON’T
expect a home to sell overnight.
Vicky explained to Andrea and Dean that homes aren’t selling as quickly
as they once were and they needed to be patient. However, she also told
them that she would help them aggressively market their home and draw up
a contingency plan if their home wasn’t selling. Of course, every
situation is different, she said, so their home may sell quickly, but
she wanted them to be prepared.
DO
expect a different “buying atmosphere.”
Not only was it possible that they might have fewer potential buyers,
Vicky warned, but potential buyers may be more demanding. To that end,
they had to make sure their home was in tip-top condition. With a lot of
homes on the market, Andrea and Dean needed to differentiate their home
from all of the other homes. She also suggested that they get a home
inspection done—to identify potential problems—before they put it on the
market.
DON’T
expect a home to sell for the same price it could have 2-5 years ago.
Andrea and Dean already had a selling price in mind, but their price was
based on what they could have sold it for a few years ago rather than
based on what other homes were currently selling for. After looking at a
few comparable for-sale listings in the area, Vicky told them that their
desired price was a little too high; the current market conditions
dictated that they should set their list price lower.
Because
they trusted her expertise and knowledge, Andrea and Dean decided to
take Vicky’s advice. They accepted
the fact that their home might not sell right away and they
mapped out a Plan B. They also spruced up their home and had a home
inspection done. Finally, with Vicky’s guidance, they settled on a fair
and reasonable list price.
In the end,
Andrea and Dean sold their home after it was on the market for just a
little while—and they didn’t have to resort to a contingency plan or
lower their initial list price. Although their story did end well, many
prospective sellers who don’t temper their expectations may not have the
same happy ending. ∆ |
