How Not Knowing Your Goal Can Cost You When Selling Your Home

I’m a goal-oriented person by nature. I thrive on setting goals, and then working to achieve them. If I don’t have a goal, I’m uneasy because I feel like I’m floating without a purpose or a direction.

One of the first things I ask a potential seller is, “What do you hope to achieve in this transaction”? After all, if I don’t know my client’s goal(s), how can I make them happen or guide them to achieve them?

After I ask the question, I listen…carefully. Usually the first response is very superficial with most quickly saying, “To sell for the most money and as quickly as possible”. But then, as I continue to listen to the customer’s reason for selling, their actual goal and motive become crystal clear.

I’ve had clients who have had family members in poor health and who needed to move closer to them. Or clients who are in their golden years and desiring to be closer to their grandchildren and experience all those firsts and milestones. Or, even clients who are relocating because of a new job or promotion. In these cases, the client’s priority is to move quickly, even if it means taking a little less than the highest price for their home.

This doesn’t mean they can’t ask or strive to get the highest price of course, but it does mean that if two offers come in and one is a few thousand more but a 45 or 60 day closing, this client may choose to take a few thousand less but with a 15 or 30 day closing.

On the other hand, I’ve represented many clients who inherited a home. Most of these clients own the home out-right and are only paying the taxes and insurance on the home. These clients are usually willing and able to hold out for the highest offer and are less likely to jump on the first offer that comes along if it’s not too appealing.

On that same token, some that inherit a property are inclined to sell quickly, either because of emotions, or simply because they are of the mind set that any money is better than no money, or they just want to move on with their lives.

Now, if your professional doesn’t know your reasons for selling and doesn’t know what your goals are, what might happen? Well, they may suggest the highest price possible and the property could sit on the market for a long time. This is fine if your priority happens to be getting the highest price, but what if you’re the seller who needs to be closer to a family member whose health is failing? Or, what if you needed every penny you can get from the sale, but your realtor suggests pricing it low to sell quickly? These scenarios make for unhappy sellers and a less than satisfactory transaction.

It’s all about YOUR goals and priorities. There’s no right or wrong answers! Knowing your goals will help you know what you want; and, lets your agent know what they need to do to guide you, and how they need to market your property to achieve your goals.

For me, when my customer has achieved their goal, so have I.

 

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