There are 5 types of home sellers. Which one are you?
Type 1: You have lived in your home for a number of years, and you want to sell to buy
a new home.
Type 2: You are an investor who purchased a rental property, and it is a great time to sell.
Type 3: You are relocating due to a job change or personal reasons, and you have to sell.
Type 4: You have defaulted on a bank loan, and the bank is compelling you to sell the property to settle your debt.
Type 5: You are a property flipper, who bought the rundown property for a great price; after
investing in renovation and reconstruction you created equity in the property and now want to sell to cash in on the equity.
Selling your home is either done by choice, force or circumstance. (Circumstance such as a health-related or age-related situation.)
As a seller, you want to get the best deal you can get.
On paper, you want to make a killing in the sale of your property and walk away with a big smile and an even bigger check, with an eye toward your next smart home purchase.
However, the market determines the sale price of the property for the seller AND the buyer.
The Art and Science of Home Sale Through Realtor®
This is where art and science meet in the eyes of the buyer. The open marketplace on the internet brings sellers and buyers closer, but never close enough. This is where the seller typically pays the piper – the Realtor® – to play the pipe to attract buyers. It is the professional obligation of the Realtor® to advise all parties to put their best foot forward in the marketplace and be a formal interface.
Property Sale Price
The sale Price of a property is a sensitive subject between a seller and the Realtor®. Putting a property on the market, engaging in the sales and marketing of the property, and qualifying and dealing with buyers
is very time-consuming.
In a healthy marketplace, an appropriately priced property will sell within a reasonable and expected time-frame depending upon the marketplace.
If a house sits in the market too long, it gets stale. Residential real estate is extremely sensitive to place and location and can be affected locally, block-by-block, house-by-house.
Expenses to Sell
Professional services to sell your property comes with some expenses. You have to be paying well to the Buyer’s Agent to bring qualified buyers to show your property and move it off the market with a contract
on it, the sooner the better. Pay well to your Listing Agent as well to protect your best interest in the marketplace.
Download this Excel spreadsheet to get an estimate of selling expenses: