Two Kinds of Sellers

The Time Certain Seller desires to receive the greatest amount of proceeds possible provided that the property is sold by a specific date. The instruction to the listing broker might be: “Sell my house for as much as you can but it must be sold within twelve months.” The strategy for selling such a property often involves aggressive price reductions until the property is sold.

The Minimum Price Seller desires that the property be sold as soon as possible provided that a minimum amount of proceeds are received from the sale. The instruction to the broker might be: “Sell my condo as fast as you can but I must receive at least $1 million in proceeds from the sale.” The strategy calls for a great deal of marketing and patience as the sale may require multiple years in a resort market.

Depending on market conditions, it is not unusual for a sellers to initially be a Minimum Price Seller and evolve to a Time Certain Seller.