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Don’t fall into these emotional traps when selling your home

submitted by Kathleen Layton, Berkshire Hathaway Home Services/Fox Roach Realtors Newtown Office

“Follow your focus not your feelings” is a great mantra, both in life and when selling your home.

If you avoid these common emotional “traps” and keep the big picture of why you’re selling in mind, you’ll have a much easier time of it.

Price Paralysis – If you decided to “try it a bit higher” and are now regretting it, don’t let the fear of “lowball” offers stop you from reducing the price to where it should be. The longer your house is on the market the less it will sell for is a given. “They can always make an offer” doesn’t cut it, as most buyers won’t present a lower offer until the house has been on the market for a while. Man up and get it to a price close to what your can realistically expect it to sell for. And do it sooner than later.

Attachment Anxiety – Yes, Bobby learned to ride a bike here and Susie fell out of a tree and broke her arm here, but believe me – you’ll have a much easier time of it if you detach the memories from the brick and mortar. I know you paid a fortune for the foil wallpaper in the entryway and the black and gold fixtures in the master bath, but they’re not retro – they’re dated. The sooner you come to grips with the fact that you’re selling a commodity that must have its flaws factored into its price – and not take people’s objections personally – the easier the process will become.

Value MisinformationBuyers evaluate what a home is worth by comparing the features and benefits of like properties and what they sold for, to yours. What they don’t consider is what you paid for it, how much you’ve put into it, or what you need to get out of it. While these factors are of monumental importance to you, they have no bearing on your home’s value. At the end of the day, your home is worth what a ready, willing and able buyer is willing to pay.

Presumptuousness – Yes, the market has equalized and there are still inventory shortages in many price ranges, but that DOES NOT mean that you can skimp on staging or push the envelope on price. Putting your best foot forward is still critical and a signed contract is no guarantee that you’ll end up at the closing table, so don’t celebrate too soon!