I had an epiphany about selling real estate today, after spending the last several days helping someone move out of a house she’d spent many years in. I’m developing a theory out of it, and I’m hoping it might help when you’re going through the process of selling real estate. In my mind, it goes something like this: for any given market, the total time it takes to go through the entire process of selling real estate is about the same for all properties.
It works out like this: in every transaction, there is a series of phases we go through. From the moment you decide to sell your property, to the moment you hand the keys over to the new buyer, those phases are always in the same order, but the amount of time in each phase varies. A lot of the variance is due to how we handled the previous phases.
The phases we all go through are preparation, marketing and pricing, negotiation, and under contract. Each phase of selling real estate builds on the previous, the same way a house is built on a foundation. The more solid the foundation, the better the house. If we do a really good job of preparation, the rest of transaction will proceed much more smoothly — and quickly.
The whole transaction, though, will have taken about the same amount from beginning to end, but it’s not that apparent to the outside observer since so much of the preparation phase is completed behind the scenes and before the house goes on the market. Conversely, if we rush through the preparation phase, and put a house on the market before it’s really ready, we’ll spend the rest of the transaction trying to correct mistakes and fix issues that would have been better addressed earlier.
The thing is, preparation is hard work in a physical sense. The other phases are more emotionally based. Which would you rather live with? Hard physical work that leads to smooth sailing, or little physical work that leads to an emotional roller coaster for the rest of the transaction? In the end, the total time elapsed will be about the same, but the toll on the seller will be vastly different. You just need to decide where your physical/emotional balance point lies.
Of course, if you ever need any assistance with any of this, I’m just a click or a call away. Don’t hesitate to reach out. I’m here to help, if you just let me know what you need from me.
With warmest regards,
Randall Brennan, REALTOR
So what’s next? Take your pick.