Home Sellers Struggling with Anxiety In This Market

BY: Melissa & Denise Stewart

Often you may hear that we are in a "Seller's Market" or the there is a "Low Inventory" in your area.

While this may be true in certain areas, the truth is that a large percentage of Sellers are very dissatisfied with the selling process.

In a recent study performed by Zillow, nearly 30% of sellers were unprepared for the length of time it actually takes to sell their homes, and wished that they had started the process sooner.

Additionally, over 75% of sellers reported making unanticipated concessions in the sales process. As you can imagine, the number 1 concession was a reduction in the sales price.

Many of the sellers feel anxiety because of the internet, and their desire to stay on top of things in the process. With sellers able to track the number of leads, and visits to their homes, sellers are becoming much more involved in the information that is available and pressing their agents to get offers based on information they perceive to be creating interest in their property. Not only are the sellers looking for information about their own property, but sellers are immersed with comparing other properties, agents and markets. Some sellers are not satisfied with sitting back and waiting for their agents to bring potential buyers to see their home, they expect results based on the information they find about other similar homes. Many agents report these pressures are based on false information or unreasonable expectations. Most of the false information is reported to be not just the sales price of a home, but rather the concessions offered by the sellers to make the deal go through.

There are certain areas where the information that sellers can obtain actually assist agents in providing relevant information to their sellers, and these areas include condominium communities. In areas like Pompano Beach, Florida, sellers can see trends and sales prices based on individual buildings, views, amenities, and other factors that buyers deem important, both for positive and negative reasons.

In a recent interview, an agent (Edward) not only pointed out to his seller several reasons why the seller's unit would not sell as high as the units across the street, but he also requested that his seller go with him to physically see the other units so the seller could see what Edward is up against when promoting her condo. Edward reported that it was very advantageous for his client to appreciate that when selling and comparing, sometimes you have to realize that if you are not comparing apples-to-apples, your comparison may not be justified. 

In a positive note, over Zillow reported that over 82% of sellers valued having a real estate agent guide them through the sales process.

If you have any questions about selling your home, please contact Denise Stewart at  866 783 6011 or denise@condo.net