Selling is stressful; whether you’re listed with a REALTOR® or For Sale By Owner (FSBO). It’s a process that may depend on a few key decisions or actions. With this post I want to talk about the proper mindset a seller should hold to make this process as painless as possible.
I’ve noticed many people have a different emotional reaction to similar situations throughout the sales process. Many of these reactions are unhealthy and painful to watch as a third party. At the same time, bad news is handled incredibly well by others. So what was different? As a Listing Agent, I think the mindset of the seller going into the process changes everything. I hope to share some of the practical steps to put you in the right mindset before selling your home and how to maintain that throughout the process.
WHEN TO SET EXPECTATIONS
Your home is an asset, something you can rely on as a pool of equity for future investments or even an emergency fund. It’s natural for you, as a homeowner, to always carry an idea in your head of your homes net profit. This internal home valuation is not always accurate. In some cases, it’s low in comparison to the true value, but as I write this in June of 2019 many peoples price expectations are higher than market value.
Homeowners who have the easiest time, mentally, selling their house, listen to a professional’s opinion on their homes value before mentally setting sale price expectations. Whether you’re FSBO or listed with an agent, it’s easy to set your eyes on an overinflated price and cause unneeded stress or frustration for yourself and others involved. This is not advice to list low. Whether you choose to list at a higher than market price or not is irrelevant. This is strictly about setting your own price expectations in your head. You can list for 40 even $60,000 over the Realtors advice, so long as internally you understand the true value of your home. It’s people who accept the facts of their homes value at the start of the process, who will und
THE SMALL STUFF
The small stuff is where the process can get stressful. Finding your RPR (if you don’t know about RPR’s Go Here), getting the listing up, prepping for open houses or most importantly negotiations.
It’s my perspective that people who have the easiest time with this process take full advantage of their Realtor. You don’t need to over communicate but you should communicate not just when needed but also about your emotions. If he or she isn’t doing a good job at one or more aspect you should tell them that’s how you feel. Often they will have a good explanation, or they’ll work to do a better job. Another point would be to reinforce good behavior. Thank them for sending you quick responses or doing additional open houses. This’ll encourage more good behaviour, many times we get discouraged too!
This seems like a simple observation but it’s surprising how many times something will come up weeks after it became an issue, overinflating from a simple problem to a serious issue.
My Experience: My ‘new listing’ signs were stolen from the main road near a property I had for sale. The seller assumed I had picked it up. Weeks later I heard about this, she’d assumed I had removed the ‘new listing sign’ almost immediately after putting it up. I would have been happy to have installed a new one if she had mentioned it, but she just assumed I had removed it. A simple misunderstanding starting our relationship off on the wrong foot.