Ridgewood Real Estate Blog : Should you sell or should you stay in Bergen County?

Should you sell or should you stay in Bergen County?

Selling Real Estate is easy, it comes down to one simple question for the seller. Do you want to sell or do you want to stay? Every Bergen county home sells, either to a buyer who has the money to purchase it or to the seller who believes that their home is worth more than the market will bear. When the property is sold to a willing buyer a transaction happens. When the property is sold to the seller, nothing happens.

 

What type of seller do you want to be?

 

The Seller who wants to sell

This seller realizes that this is a very challenging market. The educated seller has chosen to work with a Realtor. They understand the value of having a seasoned professional in their corner. They have done everything that they can to make their home more marketable. This seller has realistic expectations and wants to maximize what they receive for their property. They have carefully looked at supporting values in their neighborhood. More importantly, they understand the trend line. This seller has a good understanding of what their home is worth today and more importantly what their home will be worth in the next few months. This seller makes it easy for agents to show their property to prospective buyers. Wanting the most money for their home is a constant in any market. This seller wants to sell!

 

The Seller who wants to stay

The seller who wants to stay will look at what homes have sold for in the distant past. They will recall that a neighbor across the street sold their Bergen County home for a lot of money five years ago and will want to get that amount for their home because their home is nicer. This type of seller may or may not employ the services of a Realtor. They will probably try to sell as an unrepresented seller to "save" money. They will make comments like, "we aren't in any rush to sell" or "I'm not giving my home away". When it comes to setting up showings, this seller will typically give a small window of time to set up the showing. Typically they will need to be present at each and every showing.  Despite working full time, they have decided to add Real Estate Salesperson to their resume. The seller who wants to stay is usually very selfish. This seller will be insulted if an offer comes in at anything under the asking price. They honestly believe that the market will bounce back and they will get more money next year. This seller wants to stay.

 

How bad attitudes affect the real estate market?

Currently, there are many homes available. Imagine with me for a second that all the sellers who truly don't want to sell had their homes removed from the market. We could clear up a good percentage of the inventory. There would be less homes available and the sellers who are left would really want to sell their homes. Personally I have seen these sellers who want to stay (and not sell) clog up the market. Their home has a clear value. Typically $50,000 to $75,000 less than they are willing to accept. The seller is committed to staying if they don't get their price. The home stays on the market, then expires, never once engaging the market.

 

Why people sell.

People sell in all markets. People buy in all markets. Don't forget that simple truth. While it may be challenging to get homes sold in this market, it is not impossible. People sell for a variety of reasons. They may be looking for a bigger or smaller home. Perhaps they are sick of taking care of a large yard and want to move to a condo. Some folks can't afford the home that they are in. People are still relocating into and out of New Jersey. Some are ready to retire and move to a warmer climate. As children grow up and move out, people don't need a large home. When the time is right for you to sell you will know it. Before even thinking of putting your home on the market, make sure that you are committed to selling. Be the seller who wants to sell. Otherwise you are setting yourself up for a lot of inconvenience and heartache.

Get Educated.  Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist and CDPE, Certified Distressed Property Expert

ePRO, SRES at 201-957-7650, visit our website: www.BCHomeTeam.com 

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 82 East Allendale Road  Suite 4B Saddle River, NJ 07458

Comments

Hi, Sal, I just re-blogged your post, because I couldn't agree more! As a stager in River Vale (I pass your Saddle River office just about every week :>)  I often deal with sellers who I'm pretty convinced are asking more $$ than their home is worth. I generally ask them "what does your agent think about your listing price?" IF they bring up price in any way. And I always stress that price AND presentation are both critical to getting houses sold these days, in this soft market. Your post really addresses a very common problem in our area (and I suspect many others). 

Posted by Amy Bly, Styling Homes for Selling and Staying/Enjoying (Great Impressions Home Staging/Interiors) about 6 years ago

Nicely put Sal ! And so hard to get across to those sellers who end up selling to themselves !

Cheers and congrats on your closing today ;o)

 

Posted by Sheldon Neal, That British Agent Bergen County NJ (Bergen County, NJ - RE/MAX Real Estate Limited) about 6 years ago

Hey Sal!

Well done...Seller or Dreamer? Work WITH us & the home will be "ON" the market & move. In so many dreamer scenarios, they're nowhere near the market and handcuff their own goals in so many ways.

We can attempt to edify till we're blue... but, Knowledge & Power are nothing without Action.

All the best!

Posted by Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS (Power Realty Group, LLC Bergen County, NJ ) about 6 years ago

Amy - Thanks for the re-blog. Please stop by the office and say hi. It really is great when we can take these virtual introductions and make real friends.

Sheldon - There is no one better than you. Look out for my next blog about the best email I have received from BOA

Brian - Too many dreamers for my taste. Would be great to have some of the Dreamer inventory go away.

 

Posted by Sal Poliandro - Bergen County Realtor, Short Sale Specialist - CDPE, SRES, SFR, IRES (RE/MAX Properties) about 6 years ago

Sal, Thanks so much, I will certainly take you up on that offer during the coming week. I'll call first to see if you're going to be in. Or feel free to call me at 201-390-4649. Hi, Sheldon and Brian as well!

Posted by Amy Bly, Styling Homes for Selling and Staying/Enjoying (Great Impressions Home Staging/Interiors) about 6 years ago

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