Legal mistakes are not all that you have to watch out for. Emotional Mistakes can be just as costly. If you’re currently a seller take a look at the most common Emotional Traps listed below and ask you’re agent for their opinion if you need an outside perspective.
Emotional Trap #1: Pricing High
Youʼve loved your home. You may have raised kids or started a marriage there. Everywhere you look, you see history, memories, and the reasons you fell in love with the place. I guarantee you: Buyers canʼt see these. Remember: What you may think is an amenity might not be for a buyer, too. It could even be a negative. Distance your emotions from the list price. Try to think of it as a business deal and as a house, not your home.
Emotional Trap #2: Hovering at Showings
Sure, there may be times when you need to be there. But 9 out of 10 times, youʼre only going to make buyers uncomfortable, get your feelings hurt when the buyers donʼt like something, or take each minor complaint as commentary on how youʼve treated the place. Perhaps worst of all? You might prevent them from giving the agent honest feedback that would help you and your agent sell your home faster. This really makes buyers feel like they are in someone else’s home and you want them to imagine that they are in their new home! Emotions sell (or prevent sales!)
Emotional Trap #3: Turning Down the First Offers
Some of the sweetest interest in your home is going to happen in the first 14 – 21 days itʼs on the market. If offers come during this time, consider them seriously! The longer it sits, the more likely it is youʼre going to face price reductions. Donʼt get cocky early on when offers come in and think there will be a steady stream. You might end up selling the home to these same people for less down the line. Not to mention your holding costs as you remain on the market and your house or condo becomes “shop worn” to other buyers and Realtors. Your first offer is often your best offer. Realtors know this from years of experience!
Emotional Trap #4: Feeling Insulted by Negotiations
This may sound crazy, but when youʼre in the middle of a sale, itʼs a very real phenomenon. Remember: Theyʼre not buying you, theyʼre buying the house. Negotiations prove the buyer is serious, so unplug from the nitpicking fast. I’ve seen more offers go sour over people’s feeling getting hurt because the offer was too low. How dare they! That buyer is trying to test the waters and strike the best deal they can. Respond reasonably and likely they will see things your way without all the drama and you both get to where you need to be to get it sold!
How the newly passed Fiscal policies might affect property owners in America? In order to determine the new policies affect on real estate, we first have to understand them. Here are the major things in the deal that you need to know about: Income taxes: The Bush-era tax cuts will remain permanently in place for […]
After a soft 2011, the luxury home market made a comeback in 2012, driven by growing buyer confidence, strong foreign demand, low mortgage rates, more realistic sellers and sharp drops in the number of home listings. Sales of homes priced at $1 million and above rose by 9% in the first nine months of 2012 […]
SOLD: $300,000 per month 23402 Malibu Colony Road, Malibu, California 90265 Ultimate Malibu Colony estate on rare double lot. Prime oceanfront home offering the best in luxury beach living. Designed for entertaining and lounging, this exquisitely furnished 6 bedroom, 6 bathroom masterpiece boasts an open patio with spa and outdoor bbq, bar, flat screen, and […]
SOLD: 34,500,000 9577 Sunset Boulevard, Beverly Hills, California, 90210 Its no surprise that the highest sale of the summer for residential real estate was in Beverly Hills, CA. This exceptional home was bought by foreign investors and the transaction was closed in less than a month. With ultra high end real estate trading at ultra […]