Harness the Emotion of Selling

Hopefully you read Harness the Emotionality of Home Buying and know what that when emotions trump logic, it is going to cost you money, time, and unnecessary stress.  And with selling your home, it can be just as bad.  What is most likely the biggest investment of your life, you want to make sure that it pays off.  When selling a home, it is important to know a few things to assist in selling your home faster, for more money, all while staying more logical.

1. Buyers have options: Even if inventory is low in your neighborhood, buyers are expanding their search, thus giving themselves more options than ever before. I had clients looking as much as a ten mile radius in the Los Angeles area, so when there only may be four homes available in any given area, that could mean forty homes for them.  What does this mean for you as a seller? Even if inventory is low in your specific neighborhood, don’t price your home so much higher than fair market value because of it.  In other words, don’t get greedy.
2. Buyers are going to have different tastes than yours, and that’s okay: You may think you have the best kitchen on the market, but that doesn’t mean that every buyer is going to love it. Know that your home isn’t going to fit every buyer’s wants and needs and it may take some time to find that right person.
3. Do pre-inspections: In order to avoid surprises and minimizes price reductions once under contract, do at least a home, sewer, termite, and chimney inspection.  Present these to buyers during the counter offer stage so that if buyers want price reductions, you can calmly say “sorry, you knew prior to Acceptance that there were these issues.”  Or, correct some of these issues ahead of time and provide receipts.  It is hard to stay logical when you have surprises that can be overwhelming.
4. Understand the process: Don’t assume anything. Talk to your Realtor® about the process ahead of time, from the marketing and open houses, to escrow and closing.  There are going to be surprises one way or another but by understanding as much as possible, it will assist in thinking clearly.

Selling a home can be emotionally exhausting, but by staying calm, collective, and understanding of the process, you will do a better job of reviewing contracts and successfully selling your home.