Selling Your Home Article

The First Critical Step
To Selling Your Home

By Noel Peebles

If you've decided to sell your home, chances are you're caught up in a horde of
emotions. You may be looking forward to trading up to your new dream home
or facing the uncertainty of a major relocation to another city. You may be
hesitant to leave your memories behind or keen to start a new adventure.
Whatever turbulent emotions you're experiencing right now, you need to be
clear on exactly what's motivating you to sell your home.

Why? Because, the reasons and motivations for selling a home can be many and
varied. Most potential homebuyers know this and will be quick to ask, "Why
are you selling." How would you reply to that question?

Sometimes the potential homebuyer is just being nosey. However, in most cases,
the homebuyer has good basis for wanting to know the motivating reasons for
the sale. The homebuyer will want to know what's wrong with the house for
sale - if it is so good why are you selling?

Both the real estate agent and the homebuyer know that your level of motivation
will be the driving force in the house sale. They will want you to reveal how
urgent the deal is and how negotiable and flexible you are with the sale of your

Are you desperate and willing to sell your house at any price? Have you already
made a conditional offer on another house? Are you relocating to start a new
job in a new town? Have your family circumstances changed? Those are the
types of questions that can reveal how motivated (or desperate) you are to sell
your home. They can have a big influence on the final outcome in terms of the
conditions of sale and the negotiated price for your house.

That's why it is really important to decide exactly what you are going to tell a real
estate agent or a potential homebuyer. Decide exactly how motivated you are

to sell, before you put your house on the market. Think of how you are
going to answer each question before it gets asked.

Although you should always be honest… by saying the wrong thing, or a simple
"slip of the tongue", could cost you dearly. You will need to choose your
words carefully. Decide how much information you are willing to give without
revealing too much, or misleading, or deceiving the agent or the homebuyer.

So the critical first step is to decide how motivated you are to sell your house.
Which of these 3 groups do you fall into?

You have no choice but to sell your house and you will experience a great deal of
pain if you don't. Your negotiating position is weak and there is normally a
deadline. Your reasons are likely to be:

" The Bank: you cannot afford to keep your home
" Divorce: your income's now split, you or your spouse want out
" Job Transfer: you are moving to another town or city
" Death/Illness: emotional reasons

You are reasonably keen to sell your house. You are in a better
negotiating position and your reasons are likely to be:

" Upgrade: you want a better or bigger home
" Downgrade: you want a smaller or cheaper home
" Change: you want a new challenge

You will sell if your circumstances are exactly right. For example, someone
offering you an over inflated price for your home. You are in the position of
either taking it or leaving it. (You are a real estate agent's nightmare!)

As the old saying goes, "It takes two to Tango!" The best deal in real estate is
usually a WIN-WIN arrangement, with benefits for both the home buyer and
the home seller. This type of deal usually involves a "willing buyer" and a
"willing seller." Both home buyer and home seller need to have the
motivation to complete a successful sale.

© Copyright Noel Peebles Market Leaders Ltd.

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