3 Things Every Homeowner Wants When Selling Their House
When it comes to selling their homes, what do sellers really want when they sell their homes? So, if you’re a seller, I have three tips. But if you’re a buyer, you may want to know what sellers look for in an agent or in general when they are thinking about selling their home. So as a buyer, you know what they’re thinking about. So when you make an offer, you can make an offer accordingly.
The number one thing all sellers want, and assuming they are talking to a realtor or a real estate agent, the question they’re going to ask the realtor is: How much will I get for my house? That is the most important question. And the number one thing that all the sellers want is obvious. If I were a seller myself, I would ask the same question. And the question is, how much can I get for my house? That’s a great question, and there’s a very good reason to get the best price. And one thing I’ve learned after working in real estate for so long is that all sellers want the same thing: the price. And on a side note, all buyers want from the home is a lower price. So as agents, we’re stuck between the sellers and the buyers because sellers always want the highest price and buyers always want the lowest price. So we try to do the best we can. So, in response to the question of how much money you can get for us, Please understand, if you’re a seller or a buyer, that agents don’t set the price; the price is set by the market and ultimately what the buyers and sellers decide. So if the market for a home is $500,000 and the seller really has to move out because he has a job transfer or there’s a medical emergency, they have to move in with their parents or their siblings. And if they really have to sell, they may sell the house for $475 or $480, even though the market is at $500. So that’s the price of the home. On the other hand, if the market value is $500 but the seller has done a lot of upgrades, he’s not really motivated to sell. He has a swimming pool, and he has a view. He may want $550 for the house because of the upgrades, the view, and the special location that he has. So the ultimate price is decided between the buyer and the seller, and they get the market value. Agents don’t set the price, but the number one thing sellers want is always the price in that market.
The second thing that all the sellers want, and the second most important thing, especially when it comes to asking the agent when they’re interviewing agents or Realtors, is how long will it take to sell my house? That’s a second very important question because, in a normal market, it may take anywhere from three to six months to sell. And the sellers don’t want to wait three or six months and have open houses with strangers coming into their house. Sellers may have kids; sellers may have elderly parents. They may have sick people in the house. And the less traffic, the better. So the best way to sell the house is to sell it fast. And statistically, in a normal market, homes usually sell within 17 to 21 days. That’s a great market. Of course, in the last couple of years, 21, 22, and early spring homes were selling in three or four days. That’s an unusual market. But in a normal market, 45 to 60 days is a good time to sell your home and put it in escrow. If it takes longer than that, then several things may not be right. Either the marketing is not right or the house is not showing well, or your house may be overpriced. So, if you want to sell your home quickly and within a reasonable time frame in a normal market, aim for 17 to 30 days. That’s a good time. And if it hasn’t sold after four months or five months, and your agent or Realtor has done everything in terms of marketing and your house is in normal condition, easily accessible, and shows well, the problem could be the price. So you may want to visit. The first thing they want is the price. Because an overpriced listing does not and will not sell, buyers will pay market value. They’re not going to pay above market value, especially in this market where it’s slowing down. So they may even offer you less than the market value. Assuming the market value is changing and gradually dropping as of November 2022, it is still a very strong market. As of today, it is still a seller’s market. But home prices are not jumping like they used to. In fact, they are stabilizing. And with the high-interest rate (almost 8%), high inflation rate (almost 8%), and peak home prices, buyers are being cautious. I’m seeing a lot of homes that are reducing their prices. In fact, I have a listing in Irvine for $1.2 I just reduced it to $50,000. I have requested that the seller reduce the price by another $25,000 because there’s just no traffic in the house. So the market value is the market value. And if it’s priced right, marketed right, shows well, and is easily accessible, it should sell within 17 to 30 days in this market. If it does not sell, the price is an issue. So I hope that helps. The third thing that’s important to sellers when it comes to selling their home is they’re going to ask the agent or Realtor, “What will you do to sell your home?” Or what will you do to sell my house? Obviously, the number one question was the price. Assuming the listing is at the right price and the agent has given them a timeline, whether it’s two months, three months, four months, or five months, depending on where they are and what the seller is asking for it,
The third thing that is important to ensure that the house sells within that time period and within a certain price range is what, as an agent, you will do to sell the house, which is very important because if the house is priced right, if it is accessible, if it shows well, if it’s in a good location if it has good curb appeal, and if it does not sell, then maybe the agent is not giving the house the right exposure. And there are two kinds of exposures when it comes to agents marketing to other people. The first is more important than the buyers exposing your listing or your house to local agents because, according to the National Association of Realtors, realtors sell 92% of all homes. So as an agent myself, my first objective is to sell the house to the Realtors, because if they agree on the price, agree on the location, and like their terms and conditions, they’re going to push that house to the buyers. The second exposure that I or agents should provide is direct exposure to regular buyers.