I absolutely feel for clients who are stressed out during the sale of their home. While I make the process about as smooth as possible, there are always high-stakes feelings on the table. Unfortunately, these mistakes can cost sellers thousands.
In the interest of protecting sellers everywhere, perhaps you or your own clients can avoid these four “emotional traps” that can directly impact how well (and for how much!) a home sells:
Emotional Trap #1: Pricing High
You’ve 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 can’t 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.
Emotional Trap #2: Hovering at Showings
Sure, there may be times when you need to be there. But 9 out of 10 times, you’re only going to make buyers uncomfortable, get your feelings hurt when the buyers don’t like something, or take each minor complaint as commentary on how you’ve 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.
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 it’s on the market. If offers come during this time, consider them seriously! The longer it sits, the more likely it is you’re going to face price reductions. Don’t 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.
Emotional Trap #4: Feeling Insulted by Negotiations
This may sound crazy, but when you’re in the middle of a sale, it’s a very real phenomenon. Remember: They’re not buying you, they’re buying the house. Negotiations prove the buyer is serious, so unplug from the nitpicking fast.