In my experience, most sellers consider they are serious from the moment their home hits the market.
They definitely want to sell, they claim.
Many make an effort to ensure their home is presented just right, undertake all those essential preparations us "experts" tell them to do, and spend good money advertising their home or investment property.
But how long do you need to be "serious"?
A good guide is your suburb's current average "days on market" data. This can be a good guide as you will find that periods vary from suburb to suburb and region to region. What might be standard for the whole of Perth may not apply for your suburb. And breaking it down further, it also depends on the type of property you're trying to sell.
But what if the weeks and months tick by and still no sale?
By this point in the sale process, sellers experience many emotions including frustration and confusion. Some of this annoyance often gets directed at the agent. Occasionally, the agent cops an ear bashing about his or her lack of sales success.
However, in many instances, the agent is saved this verbal barrage because the client decides to complain about the whole scenario without giving the agent a right of reply, moaning instead to neighbours, colleagues and friends. In these cases the agent has no idea of the frustration the client feels.
Often, offers are made (both verbal and written) and yet still there is no sale. And this is where the rubber really hits the road in telling if a vendor is really serious about selling their home.
In my 20 years experience, I will happily state that the only serious sellers are those who are prepared to sell for what the home is really worth at the time it goes on the market.
So...the truth of the matter is this. If you as a seller "want" a certain figure and will only sell for that or more - regardless of what your agent, valuer or buyers are telling you - you are not ready to sell.
Your "wants" as a seller have absolutely no relevance to a buyer.
So often I have seen buyers start in the non-serious mode, but then become serious due to changes in circumstances. And then, miraculously, the home sells!
When property values are rising in a boom market, no seller objects to meeting market value at that point. However in a downward cycle - which we are very familiar with - expect to sell for less.
As an inner city agent respected for straightforward, "no bull" advice, if you really do not have to, or do not want to accept the realities of the current Perth market, just forget about selling at this point.
Successful sellers in the current climate will entrust an experienced agent to work with you as a "team" to defend your value and get you the highest possible price the market will pay. If you pick the cheapest agent with the highest price quoted, then you may still not be a serious seller.
To discuss this blog and/or require advice specific to your needs, call me now Claude Iaconi on 0412 427 877 or email claude@edisonproperty.com.au