What’s the Most Important Aspect to a Real Estate Sale?

What is most important to a Real Estate Sale?

Many would say location and they would be close to correct

You see, location certainly falls within the top influences to a successful home sale. Yet one could have a highly desirable location and still not attract a buyer to the home. Oh the home could attract a large number of people to open houses and might garner oodles of positive comments, but no sale.

Without a doubt, the driving force and
the Number One cause to a successful sale is
Seller Motivation

With a good or strong reason to sell, sellers tend to do all the right things; they:

  • list at a competitive, best market price,
  • prepare the home for maximum buyer appeal,
  • plan for potential buyer concerns and questions, and
  • cooperate fully with buyers and REALTORS®.

This usually results in a desired outcome of a timely sale at best market price with the fewest hassles.  

Without a good reason to sell--a need or desire that compels a seller to move on--any number of issues can surface that lead to no sale, an expired listing and disappointment.

Absent reasonable motivation, sellers tend to:

  1. Adopt a “seller-centric” perspective that will influence them to overprice their home, and even assume unjustified optimism that the home will sell quickly.
  2. Give little or no consideration to market conditions, sale prices and what causes buyers to take action. In a soft market, for instance, buyers are apprehensive and very price sensitive.
  3. Pay more heed to the opinions of friends and neighbours about their home’s value than to professionals in the field.
  4. Compare their home to active listings only, regardless of how long these listings have been for sale.
  5. List the property with someone who tells them what they want to hear to secure the listing.
  6. Mistakenly think that more and bigger, bolder advertising will cause the home to sell in spite of a non-competitive price.

Lacking motivation, sellers can protest quite strongly when advised to adjust their price and question the value of professional services provided. They can blame the brokerage, their salesperson for lack sales ability and the buyers, whom they see as unqualified. They can also take offense to feedback from buyers and showing agents.

So while location is an important aspect of buying and selling, good seller motivation is a primary key to a successful sale.

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