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Front Page - Friday, May 10, 2019

Sellers say they’re confident – but are they really?

I’ve talked a lot about the home buying process lately – and with good reason. Spring and summer months are busy times to shop for a house. But there’s another equally important aspect to a real estate transaction: selling a home.

Selling a home is often the largest financial transaction a person will make, but that doesn’t mean homeowners want to devote a lot of time to it.

More than half (58%) of homeowners who recently sold a home say they spent less than three hours researching the method and professional they chose to sell their home, a new survey of 1,000 homeowners conducted by SOLD.com finds.

A separate survey from the National Association of Realtors shows 75% of recent sellers hired the first real estate professional they contacted to sell their home.

While sellers might not be spending a lot of time searching for help, that could be because they feel confident. About 94% of homeowners say they feel confident about how to sell their home, the SOLD.com survey showed, but more than half concede they’re unfamiliar with any options aside from using a traditional real estate agent or selling it themselves.

The women surveyed tended to rely more on professional resources to sell their home, while men were more inclined to speak with family and friends or do online research, the survey showed.

Homeowners do still express plenty of concerns. The top concern (43% of respondents) about selling a home is getting it ready, i.e., doing renovations and repairs.

Many consumers also expressed concerns over the emotional aspects of selling a home.

About 27% said they felt stress and anxiety about moving and 21% said they were concerned about the financial implications of a move.

The financial issues that weighed on homeowners the most included being concerned about coordinating the timing of selling and buying a home (28%) and being concerned about the tax implications associated with the sale (27%).

“These findings highlight the emotional component of selling a home, which can be just as important to people as the enormity of the financial elements of the transaction,” the study notes.

There are two sides to every transaction. That’s why seeking the guidance of a Realtor – a trusted expert in real estate – is crucial.

We’re here to guide you through both sides of the process. That’s Who We R.

Greater Chattanooga Realtors is “The Voice of Real Estate in Greater Chattanooga.” A regional organization with more than 2,000 members, Greater Chattanooga Realtors is one of some 1,300 local boards and associations of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors services Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. More at www.gcar.net or 423 698-8001.