When you are off to sell your home, you will be feeling lots of emotions. You’re going to be leaving behind a home that has lots of memories of you and your family. At the same time, you’re happy that a new chapter is opening in your life. So when it comes to the process of selling, it can be difficult to stay focussed on the bigger picture and letting go of the past. The key to not being bamboozled and selling for too little or pricing yourself out is to know your customer. Here are 3 which you may run into.
The young family
This is pretty obvious. A young family, maybe the girlfriend or wife is pregnant or the youngster is seeking to buy a home before they start a family. These types of customers are impressionable, they don’t know a lot about homes generally, and they won’t necessarily see their first home as their final or only home. Thus, you should try to feel them out, whether they are affluent and would be willing to pay more or if they are buying a home because that’s the point they are in their life. The crucial question is, do they have time? If they do, they can look elsewhere to compare, if they’re short of time, i.e. they just moved into the neighborhood, starting a new job next month, or giving birth next month, then see if you can barter with them.
The quick and easy
Specialist home buyers will often be the easiest to work with. They know exactly what they want, how much they’re willing to pay and how fast they can get the paperwork done. This will usually be a specialist company that is a fast home buyer. Their process is simple, they will ask you to fill out a form online on their website or give them a call to tell them a bit about yourself and your home. Next, they want to have a viewing, either in person or via smartphone video call. They will then offer you a price right there and then, after the inspection. It’s usually a take it a or leave it kind of deal, but they will also barter if they think your home is worth it.
The portfolio guy
Last but not least, the investment fund or property portfolio manager. All they’re seeking to do is to find the best investment. Usually, they won’t mind paying a high price as long as they know, the appreciation values will be worth it to their client. Let’s say you have a home that could retail on the market for $300,000 as of its highest price. If the appreciation value is set to add 2% or more to the value of that home every year, you can increase the asking price 10-15%. So you could sell your home for $330-355,000. If the appreciation value is 3%, it will have gained that amount in just 4-5 years.
Beware Of the kind of customer you’re dealing with, how much they can move on their asking price and what their own circumstances are for time, money, needs, etc.