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Are you a MOTIVATED seller?

What is a "motivated" seller?

 

 A seller's motivation to sell can stem from many reasons and there are two different types of motivations when it comes to selling a home: "voluntary" motivation and "involuntary" motivation. 


What is a "voluntary" motivator?


A "voluntary" motivator can be defined as the need to sell due to a choice that you have made. For example, you need to sell your current home because you have a new child on the way and need more bedrooms. Or, maybe your children have all moved out and your are looking for a smaller house. Or, you are about to retire and need to find a more affordable option.


What is an "involuntary" motivator?


An "involuntary" motivator would be defined as a factor outside of your control, usually with time constraints, forces you to make a change or sell your home.


A few examples of an "involuntary" motivation would be situations such as foreclosure, divorce, bankruptcy, loss of job, relocation, illness, etc. 


What should a MOTIVATED home seller be prepared for?


First of all do not consider yourself a motivated home seller if you are willing to keep your home on the market more than 6 months.  If you are truly motivated you are looking to sell your home as soon as possible -- hopefully within 60-90 days. 


1. Be prepared to price your home aggressively. 


2.  Look for an aggressive agent with an aggressive marketing approach (internet, flyers, papers, door knocking)


3.  Have your home prepared for showings at all times.  If a buyer is standing outside your door they should be allowed in.


4.  Request at least weekly updates from your agent as far as how many showings, feedback, suggestions, etc.


5.  Be prepared to entertain multiple offers and have an agent who can guide you through the differences between a strong offer and a weak offer.  Just because one offer is $10,000 more than anothers offer doesn't make it strong.  Things such as down payment, closing date, mortgage qualifications etc all contribute to making an offer and contract strong.  You don't want to be finding out that the deal fell through a day before closing.


6.  If you are facing a situation such as foreclosure, find an agent who is experienced in these kind of situations.  Find an agent who has the time and willingness to work with your bank, attorneys, and buyers on getting your transaction closed.

By Diane Tuman

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  • Last edited October 12 2012
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