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Bacon Or Egg - Vendors' Keenness To Sell

February 18th 2013
By: Acquarone
When the housing market is proving tough and finding motivated buyers a challenge, estate agents can categorise their vendors based on their keenness to sell.   The best type for an agent are those who, for whatever reason have to sell. It may be the sale of a deceased estates home, or a job relocation where commuting is not an option. Whatever the reason, these clients are more likely to accept advice and react accordingly to secure the all important sale within a recognisable timeframe.   The other type of vendor has no pressure on them to move and whilst aware that the property market has faced difficulties, thinks that their home hasn't been affected by a drop in value. They will probably start marketing at the highest valuation given, whilst indicating that 'a sensible offer would be considered'. Three months later and no viewers or offers, the option to reduce is discarded as there is no real motivation behind the sale. We hear the phrase ' I'm not giving it away' quite often at this stage.   Some clients do, after a period of time, move from casual to motivated vendors after appreciating that the buyers are rather thinner on the ground than they expected. We have managed to reassure  clients that price reductions can be 'shuffled down the line' and unless you are moving to the more fashionable parts of London, the UK property market has been affected fairly evenly.   The selling process reflecting the above was brought home to me after hearing this quote from a successful Gulf war American General who died in December :-   'Always remember the distinction between contribution and commitment. Take the matter of bacon and eggs. The chicken makes a contribution. The pig makes a commitment.'   So if you are thinking of moving in a testing market, try and be committed!   Article by Mark Bygott BSc, Dip(EstMan), FNAEA. Director of Mark Bygott Intercounty Residential Estate Agents.