We all have a tendency to go with what we know or what we believe is the best way. We consider ourselves pretty open-minded about many things and there are those few things that are non-negotiable.
Yet when it comes to selling one of, if not, the largest asset we own, we focus on only one option. That option is to list the property and wait until a full cash offer that is acceptable is presented and then move forward with that option.
Although I am not saying that it isn’t the best option, I am saying that if every situation was that easy or beneficial we would not need to be open-minded about other options. However, we probably all know someone whose situation is not that easy. Of course, in their mind the thought that if they could get the property sold for the highest price it would solve the problem. Yet their situations include for example:
- They recently purchased their home and their family situation changed to having to move and care for a family member. They have little to no equity to list and sell.
- The tenants aren’t paying rent.
- The property is in disrepair.
- The property is not valued at what they need or believe.
- If they sold the property for all cash they would have a significant tax implication.
There are as many situations as there are people who if they knew there were other ways to sell the property that would meet their needs would consider it.
We have found that the biggest challenge is fear which keeps them from being open-minded. We are all familiar with the fear of the unknown. We are all familiar with someone who had a bad experience when they did not sell the home for all cash even though they forgot they were not able to sell for all cash.
Here is where the open-mindedness comes in. The key point to keep in mind is that open-mindedness does not mean agreement. Many think that opening yourself to new ways (options) of thinking and selling your property is an agreement. It is not. It is an opportunity to learn new ideas and if they make sense to then move forward. There is also a sequence of things. For example, you should hire professionals to advise you but not make your decision. Make sure that every offer or option is presented no matter how unusual so that the ideas continue to flow to you and find the right terms that work best for you.
So the question is, How open-minded are you about selling your property? comes down to asking yourself if you are ready to consider that there may be other options that work better for your situation and willing to listen and decide what works best for you.
We are available to discuss and provide additional information and explore other options to help sell your property. Remember, these are options and you are the final decision maker. Let’s set up a time to chat!
