Let’s make one thing clear: buying or selling real estate induces stress.
For most people out there, the real estate deal they’re about to make will be the single largest financial one they have ever done.
It ought to be no surprise to find out that home sellers can become very emotional.
As long as these emotions can be kept under control, there are no problems. However, many homeowners let their sentimental feelings overtake them during the sale, resulting in poor decision-making.
Here are the top 4 mistakes home sellers ought to avoid:
(1) Overpricing of their home:
Of course they would love to get top Bucks for their home. However, a number of the features the seller thought they were the best thing since sliced bread, the interested buyers don’t even look twice at. Special to the seller doesn’t necessarily mean it’ll be special to the buyer. Something sellers need to realise. Prices are detached from emotions and those sellers today who bought at the top of the market a handful of years ago cannot expect the same prices to appear now.
(2) Rejecting offers early on in the process:
There are enough data out that proves that the longer a property sits on the market, the lower the offers will be. Once the initial attention has subsided, there aren’t likely going to be excited buyers approaching the property. Barely on the market and a property already receives a number of offers near the sale price means it is correctly priced. Sellers sometimes mistake this as having an underpriced piece of real estate. Many times sellers will regret rejecting some of the earlier offers down the line.
(3) Deciding to stay for a buyer viewing:
Bottom line: buyers do not feel comfortable having the owner/seller present during a viewing. It is that simple. Any observations made by buyers are taken as complaints towards the seller. Agents should make sure to keep sellers and buyers apart until the later stages of the home-buying process.
(4) Every offer gets taken personally:
Try to avoid taking every offer personally. It’s a fact that sellers want top Buck while buyers want to pay the lowest possible. Thereby any incoming offers that deviates from the wanted amount might be taken as a criticism towards the property itself. One ought to see it as a negotiating tool in the selling process.
It is easy to get all emotional about certain aspects of selling one’s home. Keeping the sentiments at bay and trying to keep a cool head, without realising it, as a seller might already help a lot in the transaction