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Do you WANT to sell your home or do you NEED to sell your home?

By Cynthia Larsen

Real Estate Broker/Owner CalBRE# 01433049

December 23, 2010 04:51 AM

Wants and needs. Those are two very different things. Do you normally want to go to the bathroom or do you need to go to the bathroom? If you want to eat something, are you really hungry? If you need to eat something then yes, you are.

Why do I ask whether you want or need to sell your home? Because I want to know your level of motivation. Did I say want? Let me rephrase that. I NEED to know your level of motivation.

Selling your home costs a real estate agent time and money. It takes time to fill out the necessary paperwork for a proper listing. It takes time to counsel you on how to prepare your home to sell. It takes time to capture photos that will show your home well. It takes time to research recent sales to determine the market value of your home. It takes time to data enter the description of your home in the MLS.

It costs money to have a sign placed in your front yard. It costs money to place an ad in the paper for your open house. It costs money to print flyers. This money does not appear in thin air, it is "fronted" by your agent. And here is the clincher, your agent does not get paid if your home does not sell. Nor to they get reimbursed for the front money, it's gone. So long. Buh-Bye.

Please don't be insulted if your real estate agent asks you the question ... Do you want to sell your home or do you need to sell your home? It's a fair question to ask ... don't you think?

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Donne Knudsen

Los Angeles & Ventura Counties in CA - Simi Valley, CA

CalState Realty Services

Cynthia - Absolutely!!! I'm not a Realtor but if I ever had a seller tell me something like, "Let's just test the market to see if I can get XXX", I would just have to say, "Well then, why don't you just call me when you get your test results and we'll talk then about a real strategy". SERIOUSLY!!!

I have heard so many Realtors and agents tell me that they took some overpriced listing because the seller "just wanted to test the market first" and I can't help thinking that the moment they did that, they went from Realtor/agent to market researcher. JMHO

Dec 23, 2010 05:04 AM

Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Donne - you have a good point. Testing the market at my expense doesn't sound like a very smart thing for me to do.

Dec 23, 2010 05:22 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

I do think! You went to the heart of the matter, and we all need to ask that essential question...motivation decides an outcome.

Dec 23, 2010 05:26 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Ssssssynthia, I think the Wanters far exceed the Needers in our area.

Dec 23, 2010 05:48 AM

Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Li - exactly, I'll be motivated to part with marketing money if the owner is motivated to sell their home.

BLiz - it's pretty evident here as well. There are a lot of overpriced properties on the market and "I don't want to just give it away" are common words. It's impossible to sell a house in 2010 with a 2005 price tag on it.

Dec 23, 2010 06:34 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

I absolutely think this is a valid question. It only makes good business sense to know your client's desires before shelling out the money it takes to market a home.

Dec 23, 2010 07:50 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Absolutely, Cynthia! And this same basic concept can be applied to buyers. The ones that say, "We don't really need to buy right now . . . " ARGHHH!! They're cut from the same mold. Very simple questions requiring a very simple answer saves time, money, energy . . .

Dec 23, 2010 08:57 AM

Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Craig - Five years ago I would have been afraid to ask this question. In this market, it's absolutely necessary.

Carla - Yep, the ones who really don't need to buy now shouldn't be working with a real estate agent yet. They should be researching information on the internet and driving through neighborhoods to determine what they want and where they want it.

Dec 23, 2010 09:14 AM

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

How many times have I asked that question and how many people seem insulted? It is a fair question and a great answer. I had one client a few years ago who went through a checklist we had made together. At the end of the process she decided she liked all that we did to get her house ready for market and decided to stay put. Oh well...

Dec 23, 2010 09:37 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Ssssssynthia, Here, a 2005 price tag is just right! Just the difference in different markets, we've slid back to those levels...but we never had a bubble up either.

Dec 23, 2010 09:50 AM

Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Paul - Ouch!

BLiz - many homes here lost half their 2005 (supposed) value. The median price in August 2005 was $619K, now it is around $339K. Definitely different markets!!

Dec 23, 2010 10:03 AM

Lora "Leah" Stern 914-772-4528

Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY

Real Estate Salesperson

Cynthia, great question. I just wish all sellers were honest with themselves when they answer. It would save them and us lots of time, money and energy.

Dec 23, 2010 12:50 PM

Ken Barker Realtor® GRI, E-Pro Certified

Dilbeck Real Estate - Burbank, CA

Cynthia - Especially in this market. It is not a market they can get top dollar right now. There has to be motivation and commitment or they don't get mine. I especially like;

This money does not appear in thin air, it is "fronted" by your agent. And here is the clincher, your agent does not get paid if your home does not sell. Nor to they get reimbursed for the front money, it's gone. So long. Buh-Bye.

Very nice post.

Dec 23, 2010 02:11 PM

Cece Blase

Paragon Real Estate Group - San Francisco, CA

Ooooh! This is a reblog for me! And a suggested feature. Thanks for making these points so beautifully so I don't have to!

Dec 23, 2010 03:36 PM

Sonja Patterson

Keller Williams - BV - College Station, TX

Texas Monthly 5-Star Realtor Recipient for the Hou

Cynthia...not many people who WANT to sell truly WANT to sell. They want to make a nice profit on their home...which is going to be tough in most markets! :)

Dec 23, 2010 03:47 PM

MichelleCherie Carr Crowe .Just Call. 408-252-8900

Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA

Family Helping Families Buy & Sell Homes 40+ Years

Too often I've made the mistake of "gambling" on want rather than need sellers.

Dec 23, 2010 10:04 PM

Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Leah - It seems now, more than ever, we really need to delve into the hard questions to understand motivation.

Ken - it seems if there isn't a dire "need" in this market, the struggle begins.

Thanks, Cece ... this was kind of hard post to publish. I don't want to offend anyone, but it's a question I'll be asking in 2011.