These days, sometimes I’ll list a home, have beautiful photographs made, write captivating descriptions, schedule showings, get ready for offers … and then find out that the sellers are experiencing “seller’s remorse.”
Seller’s remorse means that the sellers are having second thoughts about selling their home. Usually that happens because they were not really motivated, or they do not have a better place to go to. So, they think that it was a mistake to list their home.
One way to prevent seller’s remorse is by being prepared and having a bulletproof plan. That boils down to knowing why you want to sell, believing that now is the right time to sell, and knowing where you are going to move after you sell.
Some sellers know exactly where they are going. Those who don’t have a place might decide to rent for a while. Sellers who are waiting for their new home to be ready might use a contingency to buy some time (they could do a lease back, or move the closing date back a bit, or a combination of both).
Since it is a seller’s market, buyers are much more willing to accommodate sellers to make the transaction a win-win for both parties. Experienced real estate agents know how to add terms to a sales contract that will make both sellers and buyers happy.
For example, a client of mine in Sun City thought that she was ready to sell about two years ago. But after thinking about it and weighing all the benefits and drawbacks, she decided that that was not the time to sell. When revisiting her plan, she decided that now was the right time to sell. She did and it was a good decision.
If home sellers are worried about not finding a suitable replacement home, they might add a contingency to their sales contract that gives them a sufficient period of time to find and move to another home. I am seeing a lot of these contingencies lately.
Have you heard that expression, “It’s a great time to sell”? These days, what with low inventory, high demand, and offers coming in above asking price, it truly is a great time to sell.
Larry Stoller is a broker and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com, RealEstateFive.com, SunCityOpenHouses247.com