I’ve been thinking a lot lately about the emotional side of selling… what I call the emotionality of moving. It’s come about as I am working through the process to prepare for and apply to do my first TED Talk and after a recent guest spot on the HerMoney podcast with Jean Chatzky.
This emotional roller coaster can seem obvious and most people say they get it and know it’s coming, however, what I see most often is they nod in agreement, but when discussions start on how to better position the property and make the necessary changes or upgrades in order to attract the largest number of qualified buyers, the push back begins. Sellers start to evaluate what is “fair” or use the logical argument that it just doesn’t make any sense to put money into a house they are selling. I understand all of it, but I remind them no one wants to move into a project. This is how the emotional roller coaster effects the decision making process.
My greatest advice for you or your clients is to be open to what those changes or upgrades might be, and do everything you can to change your mindset from a seller to a buyer. Understand that it’s not about YOU, it’s about the BUYER and they are in the driver’s seat. Your job as a seller is to present a house as visually close to what current buyers expect and are determined to find. This dictates that changes in your home may need to be made to create a more modern, up-to-date listing that appeals to a wide cross section of potential buyers. Remember, you are not buying your own house and buyers do make snap decisions about “value” based on what they see.
Conduct an interior and exterior assessment of the house and property as it relates to current buyer expectations. Whether the house is large or small, worth $100K or $10MM, in pristine condition or shows years of delayed maintenance chances are that some changes will need to be made to show value. Address issues that will present objections for a buyer. And remember, update don’t renovate when considering fast, easy and inexpensive updates to kitchens, baths, painting, flooring, carpeting and lighting, because it’s still about saving time and money in order to maximize the value and get top dollar for your home.
My book, SMART MOVES – How to Save Time and Money While Transitioning Your Home and Life, provides a well-organized roadmap for any seller, at any price point, in any location. Remember, half the battle is just realizing it and recognizing how the emotion may be affecting your decision making ability. Be a SMART MOVER!