where to start
GET THAT BALL A ROLLIN'
I once heard another agent say “All sellers are motivated out of either pain or pleasure.” A very true fact, but probably true of most anything. Hardly anybody wakes up one day and without purpose decides to sell their home. All sellers have motives and desires. And just like buyers, sellers have to find equilibrium in their ability to reconcile emotion and the current market. Here are some thoughts to get started that may help you find balance.
DO YOUR
RESEARCH
Whether your choice to sell is voluntary or involuntary, make sure you know what you’re getting into. Use the multitude of available property search engines to see what the market in your area looks like. This’ll give you a rough idea, but in no way is that data of professional quality, that’ll come later from your agent. For now you need to know if the market holds favorable possibilities. Consider that it costs around 9-10% to sell a home. Could be more, could be less. Many variables go into selling your home and it takes an army of people you’ll probably never know exist. Also keep in mind what you may still owe.
Finding an Agent: You’ve done the research, you have the knowledge, you could do this yourself and save a whole load! Right? Maybe, maybe you’ll get lucky. FSBO (pronounced fizz-boh, if you want to sound cool) homes take on enormous risks and can miss out on many opportunities to sell in a timely and profitable manner. But you’ve actually decided an agent is the best way to go. How do you find the right one in a sea of possibilities? I mean, your friends all have agents, your mom recommended hers, your dentist has “the best” guy. It can be overwhelming. If you can, go with the local experienced options. Get someone that understands your market and has a good track record. Do some internet searches on each and bring in the best for interviews and presentations. Pay close attention to the numbers and question the evidence used to back them. Numbers can look great, but you know what looks better, numbers with market statistics and definable research. Downright sexy. Don’t be seduced by colorful presentations with no content. But if the content is there and the presentation is colorful odds are that agent will market the home the same way. Awesome!
THE PRICE IS FOR YOU HOUSE, YOUR HOME IS PRICELESS.
It would be wonderful to price a house based on emotional value, based on your subjective view, but you can’t. You’re not selling the place where your kids learned to walk, you’re selling a house whose value is based on construction, location, and market. An agent that tells you otherwise is not worth their salt. Be as objective as possible and stick to your guns.
Know your bottom line: You need to understand where the bottom line could end up. On top of the other costs as mentioned above, repairs may come into play or the buyer may ask for some or all of their closing costs to be covered. These are important factors when it comes time to negotiate on offers. Take into account as many outcomes as you can then plan how you’ll negotiate around anything unfavorable. Odds are in the end you’ll be the one coming out on top.
These are just some basic thoughts on getting started. Contact me if you have questions or would like to know the next steps.