Analysis Paralysis: “To Sell, or Not to Sell”

We’ll start this off with a nice, solid response to the question: If you’re reading this article, you should probably sell. 

 

Many articles online give a lot of varying opinions on what’s going to happen in the real estate market. While all these data, information, and research are essential to many who understand them, it might just be a bunch of ancient hieroglyphics for the average person. “An increase in this” and “a surge in that” sometimes just make things more complicated. It makes us freeze up between options 1 and 2, seemingly stuck in an endless thought cycle. “Analysis Paralysis”, as the title suggests.

 

But instead of only looking at the clouds, you might want to look at what’s going right now. What are you looking to get by selling your home? Is it a good idea to sell your house now? Will it work in your location? What about the place you’re going to move into? Those are questions that only you can truly answer. 

 

So, what do you need to know to make that decision?

 

 

No Numbers Here

First, do take note that this is more of a guide to encourage you to decide. By that, we mean that we won’t be diving in too much with numbers and “ancient hieroglyphics”. We’ll leave those to the archaeologists of the real estate world. But on that note, we do want to state that this article was written with a virus called COVID-19 prowling the streets. 

 

Because of the pandemic, a number thrown around in the real estate world earlier today may be different in the next few weeks. Because of that, it’s up to you to keep yourself updated with what’s going on, even if people no longer need to wear masks.

 

 

Your Purpose

As mentioned at the start, it’s your reason that should drive you to make a decision. 

 

Are you selling to make an extra buck? If one article says don’t, and the other states go all in, which one makes sense for you? Are you willing to risk a good ROI right now for a higher one later in the future? Can you take the hit if things go terribly wrong? Are you almost at the point of dipping into your savings just to pay your employees? Can you still take care of your family if things don’t go as expected? Depending on the answers to these questions (and others specific to your circumstances), you can make a decision. 

 

This is the same if you’re just trying to sell the house because of changes in your life. Are you about to go bankrupt? Are things starting to get worse in your neighborhood? If the answer is yes, why wait any longer? Is the internet saying that you shouldn’t sell? They might just be making that conclusion on general details. Maybe you’re in a location that’s an exception. Consult your local agents. There might be a solution outside the internet that fits your needs. 

 

At the end of the day, you’re the one making the decision – not the experts, not your agent, and not even this webpage. And sometimes, maybe that’s what makes us stop in our tracks.

 

 

Making Mistakes

Yes, it’s beneficial for anyone to pause for a bit to ponder about the right course of action. Once the best option is realized, the decision can easily be made. But what if the best option isn’t available? It’s just like choosing between your two most favorite ice cream flavors. Which one should you get?

 

Usually, it’s the fear of failure that makes us unable to move forward. What if I get the short end of the stick? What if I miss out on a huge opportunity?

 

If those things do happen, you just need to accept that you messed up. Mistakes happen, and we’re not perfect. If you’ve done your best to look at your options and research, then there’s no need to regret things you couldn’t have known. This puts a responsibility on you to learn more about the decision you’re trying to make. 

 

If two options seem to weigh the same, do your best to stick to what you value more. For example, you wouldn’t want to treat your family or the lives of your team as lottery tickets. Sure, any financial decision carries a certain level of risk, but focusing on your purpose would bring more sense to what you’ll choose to do in the end.

 

 

Opting for Options

We’ve already emphasized the importance of doing your research, but we think it would be good to remind you of the availability of other potential options. There are times that we fall into a “tunnel vision” trance and think that only black and white exist. But in most cases, there’s a whole rainbow of possibilities that could happen. Understand your non-negotiables and try to play around with the variables you’re flexible with. If you’re trying to sell the house because you’re moving for business purposes, have you considered not selling the home? Maybe you could use it as a rental! Sometimes, it may even be worth considering if your reason for moving is practical in the first place!

 

With all of these mentioned, we hope that you’ve gotten over your analysis paralysis and have gotten one step closer to making your next decision. Should I sell, or wait it out? Should I even be thinking of selling? What are the other questions you should ask? We’ll leave it to you.

 

Depending on your situation, there’s one other option we can tell you. If you want to sell your house in an “as-is” condition within a few days, consider selling to real estate investors! Compared to selling to those looking for a dream home, working with real estate investors means you can close a deal much faster! This is an excellent option if you need to get things done quickly. Want to give it a shot? You can contact us, Shorefront Investments, by giving us a call at (850) 713-4866, sending us an email, or filling a form on our front page.