Buyers are bound to question sellers and their agents at some point during the real estate transaction about the reason for listing a home for sale. Answering the reason why you are selling may seem innocent, but your response can reveal a lot of information about you and your property. Saying the wrong thing could prevent the sale from going through or cost you thousands of dollars in lost revenue.
Here are some tips on how to answer the question “why you are selling your house?”
How to Answer the Question: “Why You Are Selling Your Home?”
There doesn’t have to be a convoluted answer to the question of why you are selling your home. In reality, your housing needs have simply changed! And that’s all.
If you’re communicating with the buyer directly, why aren’t you allowing your realtor to handle this stuff? You can avoid questions about selling altogether by practicing home showing etiquette and not being present during the showing.
Answers Never to Give Buyers
Responding to questions from the buyer or their agent about why you have listed your home could cost you thousands of dollars. Don’t give the buyer a reason to lowball you!
Here are a few answers you should never give to buyers:
- Job transfer/relocation – Avoid saying you received another job in another area. You may be rushed to sell the home, but the buyer doesn’t need to know that you relocating quickly.
- Wanting to downsize – As a seller, you made the decision to downsize to a smaller home, but the buyer doesn’t have to know this. This may cause the buyer to consider if the home is too large and difficult to manage.
- Wanting a bigger home – This may translate to the buyer that you don’t need extra money or that the home you are selling is too small for you, therefore too small for them. There is a chance buyers will lowball you if they know you are moving on to a bigger home.
- Too high of a mortgage payment – Sure, you are doing the right thing in selling before you fault on your loan, but as long as you haven’t foreclosed, you still have a chance to get a good price on your home.
- Hard to maintain – Potential buyers are able to see what the home will require. You’re allowed to answer questions about the home, but try not to volunteer too much info about home maintenance. If you tell a buyer the yard is large and requires a lot of maintenance, it could affect their view of the home’s lot.
- Medical issues – This could be misinterpreted for many reasons. In our advice, people don’t need to know your medical history. However, talking about how stairs or how parts of your property are hard for you to navigate, could leave buyers considering their use of the property as they age.
The above reasons are not bad reasons for wanting to sell your home. You just do not want the buyer to interpret these things in the wrong way.
Are You Ready to Sell Your Home?
Selling your home can be a hard decision and is a major asset and life choice. You will want to make sure you have no second thoughts about selling your house.
Here are a few ways to know that you’re ready to sell your home:
#1: You’re Emotionally Prepared
You know the emotional side effects of parting with your home and memories and are ready to move past it. If you’re not prepared for an interruption in your routine and the selling process, are you really ready to sell?
#2: You Have Home Equity
Should you consider selling before you have equity in your home? Probably not.
You will want to consider how much money you have in the home before putting it on the market. You want to ensure you make a return on selling the property, after closing costs, moving, and the new home down payment.
Waiting to sell until you have home equity is worth the process and a sign you’re ready to sell.
#3: You’ve Outgrown Your Home
Outgrowing your home can be for a lot of reasons. Many people are moving out of the city to have more space in rural towns.
There are ways to make use of a small space, but there can come a time when selling your home and moving to a bigger house is the only viable option. Wanting more space for children and storage could be signs that you do not fit in your home anymore.
View this post on Instagram
#4: You Need a Lifestyle Change
Selling your home and moving can help fulfill the need of needing a lifestyle change.
Maybe you need more outdoor living space or want to be closer to town. Maybe you’re retired or an empty nester. Circumstances can change at a moment’s notice or after a significant life change.
#5: You’re Ready For What Comes Next
If you’re selling, you’re probably going to be buying next. Let 828 Real Estate help you in this process.
We assist in navigating this difficult market by keeping you top of mind through the whole process. We’re quick to communicate, efficient in sending great up-to-date listings, and thorough in completing the paperwork.
Let us be on your side in helping you find your dream home in the High Country.