What Home Sellers Want

In today's post, I'm going to discuss my approach to finding and defining what home sellers want. As a seller of your home, the hiring of your Realtor is the most important decision that you will make in the process. When I meet with a prospective home seller I have a short period of time to learn what their needs are, advise them why they should hire me as their Realtor, and develop a marketing and sales plan that will meet their needs. Sound like a lot of pressure to you? It is.

Prior to meeting with a potential customer, I will arrange to preview their home on another date. There are many of my competitors that preview the home on the same date and time that they make their presentation to the seller. This is a bad move. At some point in their presentation, they will give the seller a Competitive Market Analysis (CMA) describing what they believe their home is worth. How can they do a reliable CMA if they've never seen the home before? Would you agree with me that every home is different? This is why I do my preview prior to the presentation date.

To discover the sellers' needs and their motivation to sell their home, I use effective questioning and disciplined listening skills. Once I have determined what their needs are and their motivation for selling, I can begin to develop a plan in my head. A common question from a potential seller is, "Why should I list with you?". That's a great question! To answer that question, I start by telling the seller of the advantages of listing their home for sale with Coldwell Banker. I will include information regarding our network strength, our international connections, and the advantages of our HomeBase Transaction Management system that updates sellers with various statistics on their listing (showings, views on websites, pertinent documents, etc). I will present them with flyers that highlight notable company achievements and statistics, market share, annual sales volume, company comparisons, etc. Next, I will advise them of my personal achievements, awards and recognition, and letters of recommendation. I will present them with my annual sales volume, a recent sales list, current listing inventory, and an average list-to-sale price ratio. The most important thing for me to remember is that this presentation is about the sellers and their property, not about me. I have to be very careful not to overdo the presentation of my credentials.

As the seller prepares to sell their home, I know that they have two important decisions to make: the company and sales associate that can best represent them in the sale of their home and the marketing plan and pricing strategy needed to achieve their home sales objectives. Sellers will frequently hear me refer to the phrase "full service". At Coldwell Banker, we take great pride in our full service approach to real estate sales. I am convinced that in today's market, you need a full service real estate professional and company following a full service marketing system to achieve your home sale goals.

In order for me to demonstrate how I can meet the seller's needs, it is important that I understand their specific needs and objectives. In my experience, I have learned from sellers what is most important to them when selling their home. Most sellers share the same four priorities:

They want....

• The best price and terms attainable for their property.
• The shortest possible time on the market.
• The least inconvenience, with management of the details.
• And frequent communication to keep them informed throughout the home sale process.

Once I have determined that the seller has the same four priorities listed above, I can continue with my presentation and touch on each point in detail. Since I have previewed the property prior to my presentation to the seller, I know that I have an accurate and complete Competitive Market Analysis to share with them that shows what the market currently says is the best and correct pricing position for their property. By positioning their property correctly in the market along with my marketing and advertising strategy, we have the best chance of it selling in the shortest possible time.  Since Coldwell Banker offers the incredible HomeBase Transaction Management system, the seller will experience very little inconvenience with the management details. Finally, the seller will have direct access to me (via my personal cellphone and email address), not an assistant, to answer any questions or concerns that may arise at any point during the process of selling their home. Remember, the transaction is not complete when a contract is signed, there are many other items that must take place prior to closing that are just as important as getting a signed contract for purchase, and I make sure that I am available to the seller during the entire process.

In closing, I believe that the most important decision that a seller makes when selling their home is choosing the correct Realtor to list their home with. If they choose wrong, the process will be even more stressful than it should be.

I hope that you have enjoyed this post. Please keep an eye out for my next post to this blog. You can follow me on Twitter: @TopOrlCBRealtor or "friend me" on facebook (Tim Shelton). Find your dream home on my website. Thanks for reading!

Tim Shelton, Realtor
Coldwell Banker Residential Real Estate
Winter Springs, Florida