Thinking about Testing the Market?

Read This First

By Kelly DeBrosse | eXp Realty | 23+ years serving Raleigh, Wake & surrounding counties

One of the conversations I've been having more often lately starts with a homeowner saying something like, "We don't really need to move, but we'd like to see what someone might pay for our house." Sometimes they call it "testing the market." Sometimes they say they're just curious. Other times they've watched a neighbor sell and wonder if they should take advantage of the same opportunity. Regardless of how it's phrased, I find myself asking the same question almost every time.

"What happens if your home actually sells?"

That question usually changes the entire conversation.

Some homeowners answer immediately. They're relocating for work, they need more space, they're ready to downsize, retire, or move closer to family. They've already decided that moving makes sense for their lives, and now they're trying to determine the best way to accomplish it. Those conversations are straightforward because the goal isn't selling the house. The goal is improving their lives, and selling the house is simply one of the steps that gets them there.

Other homeowners pause. They look at each other, smile a little, and admit they haven't really thought that far ahead. They were hoping to see what kind of number the market might produce before deciding whether they wanted to move. I understand why people think that way because, for several years, that strategy often worked. The market was moving so quickly that homeowners could almost decide what they wanted to do after the offers started coming in.

Today's market requires a different approach.

Preparing a home for sale isn't something you do on a Friday because you're curious what might happen over the weekend. If we're going to do this correctly, we're going to invest time walking through the home, deciding what improvements make financial sense, getting quotes, scheduling contractors, cleaning, staging, photographing, measuring, building a marketing plan, coordinating showings, negotiating offers, navigating inspections, and preparing for a move. That's a lot of work to undertake if the decision to move hasn't already been made.

The other reason I ask that question is because I've learned that homeowners often think they're making one decision when they're actually making two. The first decision is whether to sell their current home. The second is what comes next. Where are you going? What are you buying? Does that move improve your daily life, your finances, your commute, your family situation, or your long-term plans? If we don't answer those questions first, it's very easy to become focused on an offer while forgetting why you were considering moving in the first place.

I've also noticed that homeowners who are simply testing the market often become frustrated much more quickly than homeowners who truly need or want to move. When an offer comes in lower than they hoped, it feels personal because they're comparing it to what the house might have sold for a year or two ago. The homeowner who already has a reason to move looks at the same offer very differently. They're evaluating whether it helps them accomplish the next chapter of their lives, not whether it beats a number they had in their head six months ago.

After twenty-three years in real estate, I don't believe the first question should be, "How much is my home worth?" I think the first question should be, "Why am I moving?" Once we have that answer, everything else starts falling into place. We can determine what your home is worth in today's market, what preparation will produce the strongest return, whether selling now makes financial sense, and how to position you to accomplish your goals.

I've never believed my job was simply to help people sell their homes. My job is to help people make good decisions. Sometimes that decision is to sell. Sometimes it's to wait another year. Sometimes it's to renovate instead of move. The right answer is different for every family because every family's goals are different.

If you're thinking about "testing the market," I'd encourage you to test something else first. Test your reasons for moving. If moving genuinely improves your life, then let's build a strategy around today's market and put you in the strongest possible position for success. If it doesn't, there is absolutely nothing wrong with staying exactly where you are until the timing is right.