13 Pro Tips when Trading Homes & Spaces
There becomes a time in everyone's life when getting a different space needs to become a reality. Here are just a few reasons why people make buying and selling decisions. Can you relate?
1. Prestige and a more comfortable lifestyle.
2. Relocation for employment
3. Downsizing for Retirement
4. Divorce and dividing assets
5. Financial simplicity.
These 13 Pro Tips are from our team's years of experience to ensure clients make smooth changes. The reason people make moves, has nothing to do with the importance of ensuring the experience is smooth and positive. We like our clients to think of the experience as redefining themselves.
As professional Realtors, we like to kick it up to the next level. We get people focused.
We like to say, we not only know the "WHAT" to do, we bring and execute the "HOW". If the "HOW" is not handled by following a plan and strategy, it can go sideways very quickly. If the Plan and Strategy are transparent, its simply a matter of execution.
Here are two types of plans you must develop.
- The Process plan
The most important plan; as it is like the road map. Without a well thought out road map identifying the best route, the journey and trip will take longer. The experience will be filled with hassles and disappointments.
2. The Agreement plan
Forms part of the overall plan, lays out the costs and timelines and who is responsible for a safe journey. It is the understanding of clarity. Identifies what the Client's goals are and includes costs and timelines.
Like any journey, you can expect surprises. But it's how these surprises are responded too and handled. If either of these plans are left out, the trip will be very stressful. draining, both mentally and physically.
Therefore we have outlined what we believe is a good start and guide for you to follow when thinking about trading homes and spaces.
1. Know the reasons you are trading spaces and clearly make notes of what the perfect outcome will look and feel like. This is a great exercise for your emotional, mental and financial well being and focus.
2. Interview several Agents and ensure they are experienced working with Clients in your situation. Buying and Selling is not the same as Buying for the first time. There are a lot more moving parts in the process.
3. Do your homework. You always want to maximize the selling value of your current home. Consider the best returns on fix ups.
4. Sell first vs. Buy first? Know your level of risk tolerance and look at real options and the outcomes. Both stress measures, financial and emotional can be easily measured and a decision made.
5. Know exactly what personal items you are keeping and taking with you vs. what personal items you will be letting go of and replacing.
6. Prepare a spreadsheet that identifies costs relating to making the move. Both for the Buying and Selling.
7. Do not go it alone. Hire all the professionals to make it happen. These professionals will ensure your transition goes smoothly and without stress or hassles. A strong professional with a solid track record has a list of clients you will want to talk too. Ask for a list.
8. Never put yourself in a financial position were you do not feel you are in 100% complete control. Like getting caught up in a binding war without conditions to protect yourself. No matter what a professional Realtor suggests, if you are feeling out of control, shut it down. Walk away.
9. When you start out, always remember the process of buying and selling is "a process" and not an event". It takes time.
10. Educate, educate and educate yourself(s) on options. NOT OPINIONS!
11. Accept you are changing your current lifestyle for greater comfort. In life, Change means Choice and life wants to write a new chapter for you and your family.
PRO TIP Note: We find once the decision has been made to move forward and move ahead, a path forward becomes clearer.
12. You can never attach a price or cost to the value of getting to where you want and need to be if it aligns with a lifestyle goal. Having a clear lifestyle and financial plan is priceless.
13. Trust in the professional you hire to represent your best interest and they will make it happen. There was a good reason you choose the person you did. Stay optimistic and don't listen to all the critics- Let your professional guide and educate you on all your choices and options.
After all, this is their expertise and they have done it successfully many times over and over for every situation.
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