As a buyer, you need to be aware of these three types of sellers out there.
It’s important to understand the motivation behind sellers, so your offer could match their expectations
Everyday more and more new properties are being listed, though not all for the same reasons.
Here's is what our buyer agents analyzed as three types of sellers out there.
The "Tester" - Testing The Market seller
This group of sellers aren't that confident that their home will sell or not, they are just testing the market at an inflated price, hoping that a buyer falls in love and is willing to pay more than what their homes are worth.
Their homes are listed by below average agents that do not have the courage to refuse a listing no matter how overprice they are.
The "Must Seller " - The Motivated Seller
This group of sellers are in a predicament for one reason or another.
Divorce,deportation, trapped investor, inheritance, job relocation.
They are easy to negotiate and your agent's abilities to determine the reason of why they are selling will assure for the best case scenario as a buyer. . .this is why having a good agent that negotiates on your behalf. .pays!
The "Sidelined " - Wants to sell but they can't!
This group of sellers are in a predicament as the first ones, ,"the testers" except they don't have no recourse, They have to sell but owe to the bank more than what their homes are worth. They are on the market..ill advised... not waiting for a buyer but, for the market to rise and catch with their price. They are easy identifiable by the number of days on the market. .anything over 90, they are "sidelined sellers"
Understand that within these three type of sellers, you will also find the foreclosures and short sales. . they are just an extension of the above..in a different mixed-up level
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