4 Emotional Mistakes the Seller Makes

Overpricing
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. Many people become emotionally attached to their homes, which is understandable but you will not sell your property based on how much money you want to make or how much you think your home is worth. Pricing has nothing to do with the sellers emotional affinity for the property; its more important to understand this as soon as possible. Pricing is solely based on the market and comparables in your area. It is a buyers market right now.

Going to a Showing
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 make the buyer uncomfortable and can ruin the experience for the buyers. Getting the seller out of the house is key, always make sure to explain this in advance to the seller. Sellers can become very sensitive when the buyers start to nit pick every little flaw in the house. The observations the buyers make can be sometimes harsh but they have nothing to do with the person selling the home. Having the seller present make the buyer feel uncomfortable in asking questions and stating their opinions therefore; making their experience not as productive. There is a reason for having a Realtor and that reason is so the sellers do no have to go to every showing and the Realtor can filter the irrelevant information, and only pass on the information from a potential buyer.

Rejecting Early Offers
The longer a property sits on the market, the worse the offers are likely to get, says Nick Jabbour a New York City real estate agent. Once a property is marketed it will receive the most attention during the first two weeks. Sometimes Early Bids can scare the seller into thinking they under priced their property. Jabbour says you can tell the home was priced correctly when an early offer is near the asking price, and as long as the asking price is in line with the market.

Don’t Take Offers personally
It is a big mistake to take everything personally when your selling your home, because it is not a personal exchange. In order for a smooth transaction the seller needs to become emotionally detached from their homes. Real Estate transactions are aggressive and confrontational since the seller wants the highest price and the buyer wants the lowest price, that being said within the negotiation the buyer will try to point out every flaw with the property. Although you may not see it as a flaw, the buyer might. The seller needs to be ready to hear criticism of their home and see it as a negotiating tool and not take it personal or walk away from a potential sale for emotional reasons.

Advertisements

One thought on “4 Emotional Mistakes the Seller Makes

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s