Selling A Home - Are You Motivated?
Perhaps the most important question that I have to ask potential home-sellers in todays market is “How motivated are you to sell your home?”
Nothing impacts the sale-ability of a home more than the Seller’s motivation. Once you have determined the real value of your home, your motivation to sell it is what is going to determine how aggressive you will be in the positioning of your home in the market. To better understand this point, let’s take a look at the different motivation levels that we see in most home owners.
What Is Your Motivation Level In Selling Your Home?
Anybody who’s motivation is from a zero to a seven is a “Casual” seller. The Casual seller is somebody that says things like “we are not in a hurry,” or “we don’t want to give it away.” This seller says “We will see if we get our price.” To be perfectly blunt, sellers in this group WILL NOT sell their homes in this market! We do not even agree to list their homes. They simply are not motivated enough to sell a home in Tallahassee when we know less than 1 in 3 that enter the market will sell.
Anybody who’s motivation is centered around a definitive goal (I need to move to Houston… we’re having a baby and want four bedrooms…) is considered to have a motivation level of an eight or nine. They are ready to sell at “Perceived Market Value.” They are priced “with” the competition, not “better” than the competition. This is a “Serious” seller and this seller might sell their home in this market.
So, if you are considering selling your Tallahassee home, what is your motivation level?
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Joe Manausa is a real estate investor and the Broker and Co-Owner of Century 21 First Realty. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
April 30th, 2008 at 10:31 am
You made a good point here . . . do sellers have a definitive goal? Even sellers who are investors and who want to “make money” need to be flexible and take into account their motivation to sell.
I bought a house in western Pennsylvania as an investment. I’ve seen the other houses similar to mine that are on the market and I know what I need to do to sell. And that means understanding my profit potential.
May 1st, 2008 at 6:39 am
I agree Don. If somebody owns a home as an investment, they could consider not selling it now as an option. It’s the people who own their homes that they occupy that might be in less of a position of having multiple options.