Great Questions to Ask Your Seller
Every homeowner that wants to sell their property should answer the following questions:
- What would it mean to me if I were to sell my property?
- What are the carrying costs for keeping the property including principal, interest, taxes, insurance, repairs, maintenance, HOA or POA dues? How much is it costing me to own my property?
- Would I make more money selling my property and reinvesting in a performing asset? What is my lost opportunity cost?
- If I’m buying another home, will I save more on the next purchase than I’ll lose by reducing the price to get my present home sold?
- Is the timing right? For example, will it be harder to sell after season is over?
- Will the inventory of homes available for sale increase in the future making it more difficult for me to sell because of foreclosure inventory or pent-up seller demand?
- How much more aggravating will it be if I wait to get a better price? Can I put a price on this aggravation?
- Will keeping my home adversely affect the quality of my life?
- Will economic conditions such as oil and gas prices, deficit spending, and higher interest rates effect buyer motivations?
- Is the first offer going to be the best one? Will I lose more money by holding out in the hopes of getting a better offer from another buyer?
- If I were in the buyers shoes, what would I be willing to pay for my property?
- What is the cost of the personal time you will continue to invest in getting a sale?
By answering the following questions, every seller will have a better feel for how motivated they are to get their property sold. (And, You as their agent, should pay attention!)