Whoever said that we are entitled to make a profit on our home's sale or break even?

Lynn Reecer - February 16, 2023
I hear this all the time, even with people that buy a home and change their minds and need to sell it in a year or less. Here is how I advise them:
  • A property will only sell for what the market will bear.
  • No agent or appraiser even knows precisely what your home's sale price will be.
  • We can give our best-educated estimate, but again, only the buyer of your home determines the actual value at that given time.
  • In a short window of time, you are not likely to make any profit or break even as the market is informed now with all the data online as to its last sales price; I would say you would most likely lose some. I recently bought a condo right before the interest rates increased. (My buyer fell through on this condo sale, so I thought I would buy it and hold onto for one of my buyers, but the market changed just like that, so I had to take a loss and move on.)
  • I always say in real estate, as in life, "you win some, you lose some." Just like the stock market, as long as you win most of the time, you are doing great.
Remember, your home is not simply an investment but much more.
  1. You must have a roof over your head; you need somewhere to live. It is a basic necessity like food and water. It is your nest.
  2. You get to enjoy it and maybe even raise a family there, which keeps you and your family safe.
  3. You get to make many personal taste changes to it that some may like and others may not.
So when you sell your home, keep this in mind and be realistic versus an unrealistic seller. We will get you the very best possible return with all of our excellent marketing reach and sales hustle, but stubborn sellers end up with far less in the long run because "time kills a listing," as you have heard me say so often.

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