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More About First-time Home Sellers

APR 2, 2014 4:52pm ET
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Here are some comments I received from Realtors and consumers regarding the first-time home seller article.

Realtor Responses: Most Realtors believe the biggest concern sellers have about listing their home now is fear that they will not be able to find a new home, followed by a fear of the timing of the transaction i.e., will they have enough time once they sell to buy, which was tied with not having enough equity in their current home to make selling/buying an option.

When asked what they are doing differently in this market, most responded with various types of networking and outreach activities to reconnect with past clients.

In a reflection of current trends, some referenced using social media and blogging more as ways to reach out to clients.

And finally, when asked how they coached buyers through this aggressive offer marketplace, the answers varied widely, from: "On a wing and a prayer!" to more specifics like "set realistic expectations," "Offer thorough comparative market analysis," "build trust," and above all, "be patient."

Client Responses: On the client side, all mentioned getting ready to sell within the next six months to a year, with the most often cited reason for selling being to purchase a bigger/move up home, with one respondent downsizing.

Biggest concern was being able to buy a home without selling first and tight turn-around times for transactions if their own home sells before they have found a new one. Also mentioned was current interest rate being too good to move.

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