Time vs Price: Determining Your Motivation to Sell

Norhill Realty June 13, 2012

Most home owners that have decided to sell their home want to sell it very quickly and for top dollar.  This isn’t realistic.  The sales price and days on market are determined by the market, not the home owner.  Measuring your motivation to sell will boil down to a few key factors.

First, what kind of seller are you?  Do you have to sell or do you want to sell.  Home owners that have to sell due to a job change, divorce, financial issues, or a health condition will typically need to sell their home by a certain date or deadline.  This may force them to price their home more aggressively to ensure a quick sale.

Home owners that want to sell are typically making a decision because they want a bigger home, a new location, different type of home, or they would like to make a lifestyle change.  These sellers are typically not motivated as much by time and can stomach a longer sales cycle to get the price that they want.

Having an honest conversation with your Realtor on your reasons for selling your home can help you determine your motivation and priorities.  Your Realtor can break down the market in your neighborhood to show you the sales prices and days on market for comparable homes.  If you are struggling with determining your motivation, ask yourself what you would do if your home was on the market for 90 days.  Would you drop the price or would you continue to wait for a buyer to come along.  If your answer is to drop the price, then time is more important to you.  If your answer is to wait, then maximizing your price is your priority.

Measuring your motivation along with analyzing the market comparables can help you get the sales price right the first time.House-Value5

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