One of the first things that a realtor asks clients who want to move out of their house is, “Why do you want to sell?” The same applies for people who are looking to buy a house. Realtors need to know what is motivating people to buy or sell. Answers to these questions help real estate agents to know the types of houses to show their clients.

Five things that motivate people to buy or sell a house

Answers to these questions also reveal a lot to home buyers and sellers. They could help both buyers and sellers ink better deals. Although people buy and sell houses for a variety of reasons, there are five key reasons why adults take the step to change their residence. People buy and sell houses because:

Relocation – People relocate because they want to see their relatives more. This may happen if an elderly parent or grandparent becomes ill and an adult child wants to be nearby to help care for their aging relative. Parents may relocate to be closer to their adult children who moved away from home after they started college or after they got a job in another city or state. Another reason why people relocate is to keep their job even if their job is moving to another location.

Current home is too small – Having children can make a house start to feel cramped. As young children grow into teens, it could also create a need to move into a large home. A house can also become too small if one or more relatives moves in.

Problems with house – Structural problems with a house motivate people to put their home on the market. Electrical, plumbing and roofing problems are other reasons why people decide to sell their house. Natural disasters can also create problems with a house. If homeowners are unable to pay for repairs, they might fix their house up enough to land a sale and decide to move on.

Finances – Losing a job, working less hours or starting a new business and earning less money during the first few years that the business is open has a negative impact on personal finances. If these types of situations don’t improve, people may sell their homes.

Relationships – A breakup is a leading reason why people put their house on the market. When people form a new relationship, they also buy a house to solidify their relationship or to start a family.

The more you know about what’s motivating someone to buy or sell a house, the more leverage you can have during deal negotiations. As a buyer, knowing what’s motivating a homeowner to leave their home could alert you to problems with the house. You could use this knowledge to negotiate a lower sell price. As a seller, knowing why someone wants to buy a new house can reveal amenities, features and other pluses to highlight about your house.

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