The selling process
The sale of your home can be an emotional process, so prepare yourself before listing your property. Begin viewing your house not as a home but as an investment and a business transaction.
This battle between the practical and the sentimental is bound to stir up emotions for everyone in the family. But wearing your emotions on your sleeve when you’re trying to sell your home can lead to delays or even derail your home sale. If you never thought you were sentimental about your home, try putting it up for sale. Suddenly every nook and cranny is the spot of some special event or sweet memory. All sellers have a tendency to overprice their homes. But those who are overly attached are even more likely to make this mistake. They believe the “right” family will fall in love with their home as it and will be willing to pay more for it.
Home buyers rarely think that way. But they could be willing to pay more for a certain location or features that add value to the home. So go beyond simple repairs and cleaning when you prepare your home to go on the market. Stage your home to create an impression of the type of lifestyle buyers could have if they buy your home.
Prepare for Negativity Overload
The more showings you have, the more likely you are to get some criticism about your home. Then, when a buyer makes an offer, it may be lower than you expected. On top of that, contract negotiations are likely to point out even more flaws in your home. Taking offense to this negativity could cause you to reject a low offer as “not serious.” So you hold out for a better offer, and you wait. And wait some more.
The longer you wait, the less likely you will be to get your asking price. Why waste time? Even a low offer is an opportunity to get your home sold, so don’t take it personally. With some skillful negotiating, you can turn a disappointing offer into a deal where both sides win.
Save Your Self From Stress
It’s easy to see how these emotional cycles create stress for home sellers. An experienced real estate agent can help you avoid the mistakes most do-it-yourself home sellers make. Start off right and consult an agent to help you price your home. The price you and your agent set will reflect your home’s real value—not an emotionally charged figure.
Your agent will also help you attract buyers with advice about updating and staging your home so its best features are highlighted. And, when it’s time to negotiate the sales contract, keep your sanity by letting your agent handle the details.
What to Do Before You Sell
Anything you can do to make your agent job easier is going to benefit you during the process and when the sales time comes. What’s important to remember is that you’re most likely going to be working very closely with this person on a very big transaction, so it’s a good idea to be prepared and ready to provide them with as much information as possible right off the bat.
Give yourself a quick refresher on your local market, as conditions have likely changed since you bought. The goal is for you and your agent to be on the same page in terms of the value. Sometimes you’ll find conditions will be in your favor, and sometimes you may be disappointed with the current market, (but) regardless of what you discover, your research will help you and your agent create a realistic plan for selling your home.
Sellers should be realistic and look at recent comparable sales (known as “comps”) in the neighborhood. Sellers can find that information through online real estate sites. Sellers should be realistic, using homes with comparable square footage, the same number of bedrooms and bathrooms, and a similar level of amenities. It’s also important for sellers to consider their home’s condition relative to the comps.