Q: We interviewed agents to help us sell our current two-story residence to buy a one-story home. Our sizable antique collection prevents us from moving into the interim housing while we find an appropriate replacement property. Two agents we interviewed were resolute in their desire that we relocate into temporary living quarters while they market our vacant home. Each of these agents seemed inflexible on the idea of us buying and selling or selling and buying at the same time. They maintain, “That is not done anymore.” Last night, the third agent interviewed instantly gave all the hard-and-fast reasons why we need to focus on one transaction at a time. He summed up his rigid view of our moving plans with his unyielding commentary “best to forget about two transactions at once.” We bought and sold at the same time years ago. Why are the agents so pessimistic? What’s changed?
A: Nothing. Sellers have always seen the blood drain from the faces of potential listing agents as they realize two sales are needed — simultaneously. Many agents prefer a listing and consider it a “walk in the park.” Conversely, representing a buyer for these licensees is akin to hiking the zigzag trails of the Grand Canyon. That’s why sellers can witness a listing agent slip into a coma after comprehending the big picture of concurrent home sales. As they regain consciousness, they expound at 250 words per minute the folly of the seller’s plan.
It can be done. I’ve done it in hot and cold markets. The local PRDS Sale of Buyer’s Property Contingency Addendum, as well as the statewide Contingency For Sale of Buyer’s Property form, are well-written. A seller who requires equity from their current home for their new property has several options in these easy-to-use forms. Admittedly, it has to be a good fit between agents, buyers and sellers. The demise of (one-move) simultaneous sales is not just the lack of deft selling and negotiating skills; it’s the absence of speech and listening capabilities. Hire an agent who uses a telephone like a surgeon uses a scalpel — only then will you avoid moving twice.
Buying or selling real estate? Realtor Pat Kapowich provides turnkey services including relocation, staging, market analysis and strategic planning. 408-245-7700 or Pat@SiliconValleyBroker.com
Source:: The Mercury News – Lifestyle