Should you wait? Is the market going to go up? Is the market going to go down? What should I do? I found myself in the exact same predicament and I, as an experienced agent, ask the same questions. So here is a trick of what I did with myself and a strategy we walk our sellers through when we meet with them.
Truth be told, no one has a crystal ball, not even me and I’ve been doing this for 18 years. But here are the sorts of things I discuss with sellers when meeting with them.
1. Do you have to sell??? If you’ve got a job transfer or going through a divorce and the only option is selling, well then, selling is a good option.
2. If you were to sell right now and be able to walk away with x amount of money would you be happy with that? And the reverse is true as well, if the market dropped 30,000 or 40,000 would that make a significant difference in your ability to move. If the answer is yes, and you really want to sell, well, it may not make sense to risk riding the market, and you should get out while you can and enjoy the proceeds you’d make.
Also, understanding that it is all relative. If you are buying and selling in the same area at the same time, if you sell high, you are also buying high. However, if you are selling now and let’s just say you’re selling in a hot market, and moving out of the area, where it is also super hot, would it make sense to possibly wait a few months, see what happens in the market and test out where you are moving too. All of these factors have an impact on whether or not selling now is the best option for you.
There are a lot more things to discover and after probing and asking a few pertinent questions, we will be able to advise to the best of our ability. So, if you’re contemplating and just not sure what to do or need some support and guidance, give us a call here at Shore Prime Properties as we are always here to help. Many times getting an opinion from a professional who has helped hundreds of people navigate the selling process just like you, it just helps take some of the burden off. We look forward to hearing from you!