The greatest hindrance to the sale of a home can be a seller who is seized by emotion.
It is very important for sellers to keep in mind that a real estate transaction is most likely the single largest financial transaction they will ever undertake.It should be viewed and handled primarily as a business transaction, with cold, hard decisions being made on a financial and investment basis.
Home sellers who allow emotions and sentimental attachments to overtake them during the sales process run the risk of making hasty, sometimes poor decisions.
Here are some tips to help any home seller avoid making emotional mistakes that could cost money.
Getting top dollar is the dream of every home seller. But getting a buyer to pay a premium for features that are valuable only to you? That's closer to fantasy. Overpricing often occurs because of emotional reasons. So many sellers make the mistake of thinking that their home is special and that a special buyer will pay more because they also fell in love with the property.
The truth is prices have nothing to do with the seller's emotional affinity for the property, it's important sellers understand that as early as possible.
There are a lot of legitimate reasons why a seller might want to be present for the home's showing. But having a seller there tends to sour the experience for most buyers.
Getting the seller out of the house is key. Buyer want the freedom to make comments on the home , both positive and negative.
Sellers think that every little thing is a complaint against how they may have maintained a property. The reality is that observations from buyers -- though sometimes harsh -- have nothing to do with the person selling the home.
Having a seller present for an open house or the first (or even second) showing tends to stifle potential buyers from expressing opinions. After hearing negative feedback, some sellers reject offers for emotional reasons. Sellers should use their agents to insulate them from the process, filter relevant information and only meet the buyers when there's a serious offer on the table
The Early Offer:
Sellers be warned: The longer a property sits on the market, the worse the offers are likely to get.
Once a property is marketed, it will receive the most attention during the first two weeks. The home is new to the market, and any buyers that have been in the market for a home will see it come up. If it is priced right, an educated buyer, who has been in the market for a while and sees the home as a fit, will put a serious foot forward."
Sometimes early bids run the risk of spooking sellers who worry they underpriced their properties. You can tell the property was priced correctly when an early offer is near the asking price, as long as the asking price is in line with the market.
Waiting for a better offer is counterproductive and can result in a property languishing.
When you're selling your home, it's easy to take everything personally. But doing so is a big mistake.
Sellers need to become emotionally detached very quickly from their homes. By its very nature, a real estate transaction is aggressive and confrontational since the seller wants the highest price and the buyer wants the lowest.
That negotiation almost always means a buyer will point out every flaw with the property. But while hearing that information may sting a little, it's really a good sign, because it means the buyer is serious.
A seller needs to be ready to hear criticism of their lovely home and be able to deal with it as a negotiating tool and not take it as a personal affront and walk away from a potential sale for emotional reasons.