Selling a Home - Partnership in Success - Part 2 - The Objective
In Part 1 of Selliing a Home - Partnership in Success we talked about the major factor in Selling a Home is "The Market". "The Market" is in a constant state of change - but we as individuals are frequently powerless to change it. But we do have the Power to position your home within the market to your best advantage when Selling a Home.
"The Market" is the homes available and when Selling a Home we have to compete against all of those other homes and/or choices to find someone that will see the value in yours compared to all the other homes and/or choices for them.
When Selling a Home you are not only competing against other homes but against other choices people might make with their resources. They might decide to rent, they might decide to stay in their current home, if investors they might decide to spend their money on something else.
So the question is when Selling a Home is how do you best position your home within "The Market". But first you must decide what your objectives are so you know how to position yourself. There are 4 objectives I see when Selling a Home:
- Price - This is the most obvious objective. Getting the most money possible when Selling a Home. This objective is often the most unrealistic objective for many people when Selling a Home, however, it is also the one a Realistic Seller can impact the most with a smart plan for Selling a Home.
Think of the story of The Goose that Laid the Golden Egg! Try to get too much Gold out of Selling a Home and you might end up with less Gold than you could have if you had been realistic. - Time - Most of us want to sell ASAP. Some might have a target date in mind. For some when Selling a Home speed is more important than price. Generally speaking if you want to sell fast lower the price, the lower the price the faster it sells. However, this is not always true. A well priced home will sell faster and at a better price than a home that is overpriced to begin with then has the price lowered.
- Mortgage Relief - In the market drop Short Sales have become a dominate part of the market. For many Selling a Home is a way to get out from under a underwater mortgage and or avoid Foreclosure. If you are considering a Short Sale go to HomePointRealEstate.com and get Free information on Short Selling your Home.
However, for those Selling a Home as a Short Sale Price and Time are often factors but not as big. Most just want a price acceptable to the bank and want it done before they are foreclosed on, but often do not mind it dragging out so they can stay in the home without making payments. - Pride - Often people loose site of where the market is at and want to price or sell so they do not feel they have lost or feel that they have gained some objective they have set for themselves. I have seen cases of grief where people need to sell but do not want to so place unrealistic expectations such as price or throw up other obstacles that delay them selling.
These are not wise objectives when Selling a Home.
Now that we have looked at Objectives when Selling a Home next time we will look at positioning when Selling a Home.
Gene,
People are not realistic until they need to be.
I had a condo that my clients wanted priced $30K over market value and it never sold.
Now another agent has it listed for what I was trying to tell them when I first met with them.
GO FIGURE!