Price vs time: Measuring your motivation

| Sun Valley Idaho’s Best, Most Experienced Real Estate Marketing Expert – George Martin, Jr.

Price vs time: Measuring your motivation

By

Pick a price, any price for your home. Now wait. Eventually, someday, someone will probably be willing to pay you that price. The question is – Do you have the time or the desire to wait for that to happen or would you rather sell your home now for a reduced amount of money? Welcome to the Price VS Time dilemma that faces all homeowners.

The Price VS Time dilemma is the challenge of determining which is more important to you as a homeowner – selling quickly or selling for top dollar. Of course, it’s easy to bang the kitchen table with both fists and say I want both, but that’s unrealistic. In the real world every homeowner falls into one of two categories: the necessary seller or the optional seller. Let’s define these two vastly different types of sellers:

The Necessary Seller: Necessary sellers are homeowners who must sell their home and it’s not something they can avoid or put off. Perhaps they have a job transfer or job loss, a pending divorce, health condition, or a financial crisis that is causing them to sell. Regardless of the reason, they need to sell, and the faster the better.

The Optional Seller: Optional sellers are homeowners who have made the choice to sell. They aren’t forced to move, they simply would like to make a housing change. Perhaps they want to upgrade to a newer home, a larger property, or just as likely, maybe they are selling to travel or move closer to friends and family. The bottom line is it will be inconvenient if they don’t sell, but the world won’t end.

So which kind of seller are you – a necessary seller or an optional seller? The answer to this question is key to determining how you resolve the Price VS Time dilemma, but be careful as it’s not as easy it might sound. For instance there are tens of thousands of necessary sellers across the nation who desperately need to sell their homes quickly, yet they act as if they are optional sellers. [pullquote_right]Eventually, someday, someone will probably be willing to pay you that price. The question is – Do you have the time or the desire to wait for that to

happen or would you rather sell your home now for a reduced amount of

money?[/pullquote_right]These sellers list their homes for inflated prices and then are shocked, frustrated, or even angry that their homes fail to sell within their pre-set timeframe. Another wrinkle facing both optional and necessary sellers today is the issue of rapidly declining prices in many areas of the country. While in a typical real estate market an optional seller might hold out for top dollar, this strategy can easily backfire in today’s market as their home may be worth significantly less the longer they hold out for a higher price. In addition while many optional sellers may not be forced to sell, they may want to sell quickly because of other motivating factors. If this is the case they will need to adjust their pricing strategy accordingly.

If you are having a challenge determining just where you fall on the motivation scale ask yourself this follow up question. If I listed my home for 90 days and it did not sell, what would be my next step – adjust the price or give it a little more time? If your answer is to adjust the price, this would seem to indicate that selling quickly is more important for you. On the other hand if you feel more inclined to give it a little more time, top dollar is more than likely your primary motivator.

To unravel the Price VS Time mystery further sit down with a local agent and give them an honest assessment of the reasons why you are selling. By reviewing what homes similar to yours have sold for in recent months and the time frame it took those sellers to sell, it should help you to set a pricing strategy that meets all of your needs.

SOURCE:

There are currently no on this post, be the first by filling out the form below.

to .

Primary Sidebar Widget AreaThis is the Primary Sidebar Widget Area. You can add content to this area by visiting your

and adding new widgets to this area.

© 2013 ·

on

·

·

Read More Post

STAY CONNECTED

Most Popular

Manifesting Your Dream Career: Finding Your Passion And Purpose
01 Aug

Manifesting Your Dream Career: Finding Your Passion And Purpose

Are you passionate about finding your dream career? Manifesting can help you align your career with your passions and purpose.

Revolutionizing Your Ride: Expert Auto Service At Carolina Auto Service
27 Feb

Revolutionizing Your Ride: Expert Auto Service At Carolina Auto Service

Finding a reliable auto service provider is paramount in the bustling world of vehicle maintenance and repair. That's where Carolina

Floratam: The Robust Grass Solution From Council Growers SOD
25 Jan

Floratam: The Robust Grass Solution From Council Growers SOD

Floratam grass, a popular St. Augustine variety, has become a go-to choice for homeowners and landscapers seeking a lush, durable

Carolina Mobile Autoservice: Your Go-To For Expert Brake Service Repair
25 Jan

Carolina Mobile Autoservice: Your Go-To For Expert Brake Service Repair

For vehicle owners, the braking system is among the most critical components for safety and performance. Carolina Mobile Autoservice, a

Safeguarding Your Property: Expert Water Damage Services By MBC Capital
24 Jan

Safeguarding Your Property: Expert Water Damage Services By MBC Capital

Water damage can significantly impact homes and businesses, often leaving a trail of destruction and disruption in its wake. Understanding

Revanesse Lip Filler: The Secret To A Perfect Pout – Discover America’s New Favorite At Beauty From Ashes Aesthetics
19 Jan

Revanesse Lip Filler: The Secret To A Perfect Pout – Discover America’s New Favorite At Beauty From Ashes Aesthetics

In the ever-evolving world of cosmetic enhancements, there's a constant quest for the next big thing. The latest darling in