5 Things to Give Sellers That They Don’t Realize They Need

5 Things to Give Sellers That They Don’t Realize They Need

Selling a home is a tough job, whether a seller has “been there done that” or is selling for the first time. There’s a lot leading up to going live with the listing, managing showings, and then everything that happens after the buyer’s offer is accepted and there is a contract. Despite the wealth of information in the media and on the Internet, sellers often do not know what they don’t know, or need, for getting through the process of selling a house.

Here are some things that sellers might not realize they need, and we, as real estate professionals, can and should provide.

A ROADMAP FOR THE FUTURE

While experienced sellers think they know the process, and first time sellers likely don’t, all deserve to understand what’s going to happen in the process of selling their house from start to finish, and in advance of when it happens.

Obviously you can’t cover every little detail, or review all the possible bumps in the road that could occur. But a general understanding of what has to take place, and what follows what, can be reassuring to sellers, will establish expectations, and may address some of those niggling questions they might have but don’t share.And there may be questions they don't even know they have!

OUR AGENCY ROLE

Sellers likely don’t realize all that defines our agency role, and what we must, and must not, do in our representation. It’s not simply a matter of completing a listing agreement, agreeing to a list price, putting up a sign blasting the listing all over the Internet, then bringing in an offer and coasting to closing.  

And since we should be seller-centric and focused on their needs, providing a general understanding of what we will do for them and why is important.

THE TRUTH

I’d venture to say most homeowners want to maximize the sales price of their houses. Thing is, many do not really know the market value, even though they think they do based on the media, Zestimates and other automated valuations, their neighbors and friends and other sources of information. Value often gets confused with want or need.

Just because a seller wants a certain price to afford a particular move-up home, or spent a ton of money on remodeling and upgrades, does not translate to value in buyers’ eyes. Sellers need to know the truth, like it or not. And not just about value but other things like condition and deferred maintenance which impact value.

LOCAL MARKET CONDITIONS

It’s easy to believe what is shared online or in the media, and think you know it all. The reality is sellers generally do not realize what the actual local market conditions are, nor understand how those market conditions can impact their transaction. They hear “sellers’ market” and assume multiple offers overnight, selling for over asking price, and no need to do anything special to prepare the house for sale because of demand.

Sellers often do not understand buyer behavior, in a seller’s market or whatever the market happens to be, do not consider that offers are not just about price but also terms and conditions, may not realize the impact their decisions can have on selling their homes, nor realize the potential issues of over-asking offers on the appraisal. They need to know.

FINANCIALS

What a seller expects, or hopes, to take away from the sale of their home is sometimes far from the truth. It’s not unusual to hear sellers say “I need to get $XXX from the sale of my home” without knowing all the associated costs of selling a house (e.g., commissions, title and escrow fees, reports, property taxes that are due, payoff of an existing mortgage and/or home equity loan, notary fees for the deed).

And as already noted this desired outcome often becomes the basis for an unrealistic list price. Regardless of what the house sells for, there are closing costs that must be borne by the seller and these can sometimes be a surprise. Don’t let these be one!

One last thought? Think about how you can amuse, amaze, delight and surprise your sellers, on top of the things they expect and deserve, and what they they don’t realize they need!