Seller Expectations

Sellers have a perception of how the marketing should happen, and how the transaction should proceed. Even though their expectations are unwritten and usually not verbalized, most people have a visual picture in their mind. It could be based on their past experiences, discussions with other sellers, research, or the dictates of their financial situation.

We will break the seller’s expectations up into Marketing Expectations, Transaction Expectations, Sale Results Expectations and their expectations of you, the seller’s agent. Let’s go through each one of these.

Sellers Marketing Expectations

● To see you being proactive and doing activities to promote their home for sale; such as flyers, signs, open houses, and broker caravans.

● Their house to be exposed to the widest pool of buyers.

● You to show their house to serious, qualified buyers.

● Assurance that you are following up with prospective buyers who viewed their home.

● They want to know that you are getting feedback from buyer’s agents who showed the home.

Seller's Transaction Expectations

● Sellers do not want the buyer to re­negotiate the sales price after escrow is opened. They don’t want to be surprised with late­breaking buyer demands.

● Sellers want a stress­free transaction with no hassles. That’s why they hired you instead of trying to sell it themselves. As a professional, you’re guiding them and recommending steps that prevent problems from occurring

● They certainly do not want the buyers to cancel escrow

Sale Results Expected

Sellers want the most money, and in the least amount of time.

● The main goal for most sellers is the highest amount of proceeds. That means the largest purchase price with the fewest expenses, so they can net more cash in their pocket. Always keep that in mind. However, distressed property sellers are not necessarily concerned about selling for top dollar because they may have other goals.

Distressed properties include short sales, REOs, probate & estate sales, tax liens, and sheriff sales.

● Most sellers want a fast sale. That means they want offers to come in soon after listing, and they want the accepted offer to close on time without delays. However, a few sellers may prefer a longer escrow period to coincide with their other goals.

Seller’s Agent Expectations

Sellers want a professional caliber agent who has integrity, is trustworthy, and is dedicated to helping them. Specifically, sellers want their agent to:

● Represent them and the house favorably.

● Negotiate hard on their behalf and go to bat for them.

● Communicate and keep them updated every step of the way. They prefer for you to follow up weekly and send them status reports.

● Keep their best interests at the forefront.

● They want to rest assured that you’re handling all the details so they don’t have to worry about documents, disclosures, legal compliance, coordinating the move in and the move out, the inspectors, the appraisal, and the escrow process.