Selling a Home in Redondo Beach Part 1: Your Objectives

As I meet with Sellers prior to listing their home for sale, I go through a thorough checklist to get an in depth understanding of their objectives. Not surprisingly, the more specifically the home owner can articulate their goals, the better job I can do for them. So before the "For Sale" sign goes up, defining your goals is the first step in the home selling process.

Of course everyone wants to sell their home for the highest price and save on closing costs (call me I can help you). But beyond that, just like each property is unique, so is each selling situation.

After defining specific goals, the next step is defining expectations. I consistently hear from my Buyers and Sellers that I have exceeded their expectations. I'm able to do that for two reasons. First I ask what their expectations are and secondly I over deliver.

The third component of understanding your objectives is understanding what is most important to you. While everyone wants the highest price, there really is a lot more to selling your home than price. (Don't worry, I'll get you the highest price.)

So, let's take a look at each of these 3 points individually starting with the last: what is most important to you as a seller (other than the highest price). Here's some examples.

Some homeowners may need to sell quickly because they have a job relocation or need the proceeds for their up leg so time because the most important factor. Others may not be under any deadline but may have young children, valuables, pets, or other factors that make privacy the most important concern. That's why not every property has a lock box or an open house every weekend.

Then there are the situations where a family has inherited a property and keeping the peace among the stakeholders (also known as squabbling siblings) is what is most important. A variant of that might be a divorce situation. 

I had one situation last year with a Seller who needed to stay in their home for six months after the close of escrow while his retirement house was being built (really). Yes I was able to keep him in the house for six months (and exceeded his expectation). That's an instance where possession was the most important factor.

Alternately you may have tenants and not want to lose their rental income until the escrow closes, Or maybe they are resistant to the sale and managing the tenants becomes the most important factor.

Often repairs (as in you do not want to do any) is the primary concern because you have years of deferred maintenance. Related to this may also be updates you may have made without permits. Or that mold issue that will have to be disclosed.

Next up is what are your expectations. Some Sellers want to be informed about each and every showing while others only want to know when there's an offer. There are clients who just want to know where to sign while others want an explanation of every document. (Most people are somewhere in the middle.) 

And most important what are your goals? Maybe a better way of phrasing this would be "where are you going". Common goals are to get a larger property to accommodate an expanding family, or to downsize now that the kids have left. Or maybe the goal is to cash out money to live on during retirement. Downsizing, upsizing, moving closer to the kids, work, friends. getting out from an underwater mortgage or the responsibility of being a landlord. We all have a goal.

Based on your objectives, the strategy for your sale may vary. That's why I do some "off market" pocket listings while other properties are priced to sell the first week on the market. 

Understanding what is most important to the Seller, what the Seller expects, and what their goals are is the first step for a successful transaction.