Will Being 100% Truthful Sell Your Home?

    Will Being 100% Truthful Sell Your Home?

    Oct 21, 2017

    If you have decided to sell your home, chances are you are 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 are experiencing right now, you need to be clear on exactly what is motivating you to sell.

    The point is; the reasons and motivations for selling a home can be many and varied. Most potential home buyers know this and will be quick to ask, “Why are you selling?” How would you reply to that question?

    Sometimes the potential buyer is just being inquisitive. However, in most cases, the buyer has good basis for wanting to know the motivating reasons for why your property is for sale. The buyer will want to know what’s wrong with the house – if it is so good why is your house for sale?

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

    • Are you desperate and willing to sell at any price?
    • Have you already made a conditional offer on another home?
    • Are you relocating to start a new job in a new town?
    • Have your family circumstances changed?

    Those are the types of questions that reveal how motivated (or desperate) you are to sell. The answers you provide can have a big influence on the final outcome in terms of the conditions of sale and the final negotiated price.

    That is why it is really important to decide exactly what you are going to tell a real estate agent or a potential home buyer. Decide exactly how motivated you are when selling your home, BEFORE you put your home on the market. Think of how you are going to answer each question BEFORE it gets asked.

    Although you should always be honest; 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. Under no circumstances should you deliberately mislead, or deceive the real estate agent or the buyer.

    The critical first step is to decide how motivated you are to make the sale.

    Are you:

    VERY MOTIVATED

    You have no choice in selling your home and you will experience a great deal of pain if you do not sell. Your negotiating position is weak and there is normally a deadline. Your reasons for selling your home are likely to be:

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

    MODERATELY MOTIVATED

    You are reasonably keen on selling your home. 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

    NOT MOTIVATED…BUT COULD BE!

    You will sell your home if your circumstances are exactly right. For example, if someone offers 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 agents 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 buyer and seller need to have the motivation to complete a successful sale.