It is very difficult to separate the emotional attachment you have for your home from the financial investment. You have spent a lot of your life in that building and there are many memories. However, when you make the decision to sell, do your best to balance your emotions with this extremely important financial decision. This piece of property is one of, if not your largest, financial asset. Treat it as such. Help your agent market your property. Remember, this house is a product you must sell, much like a commodity on a financial market.
It is very difficult for your agent to do their job if your emotionally attached to your property. I have delt with a person in the past who always changed the goal posts for her property. This person wanted $300,000 for the property then when I bought a contract for the price went up to $320,000. The reasoning behind it was that if someone wants it at this price someone might want it for more. I then went out worked hard got a multi offer on the property. Coincidentally both contracts were both at the same price and at the price that the vendor asked for after the first contract.
Both contracts were presented in accordance to the multi offer format. But when the agreements were presented the goal post changed even further. Now wanting that figure in the hand after all the fees. The reasoning for this was the settlement date was 3 months down the track and someone in that time would maybe offer more. The house has been on the market 2 months after an intensive Auction Campaign where the only buyer interested thought it was worth $280,000.
If you’re a seller out there you need to come to grips with the market. Set your price and be firm on it, but also be flexible to understand where the market is telling you where your property is sitting. As an agent selling the property on your behalf we invest a lot of time and money into the marketing of your home. At the end of the day we should be both motivated to sell your home and try and achieve the best and fairest market price for your home.
It is disheartening when a seller has to settle for less than they expected but if that seller can use what they achieved to move on there is still a great sense of satisfaction for me.
The problem I am facing with this seller mentioned above is the emotional attachment to the property and after looking at the facts I believe that when it gets close to selling it hits home that they can’t leave. Or the fact that it’s almost over makes them feel insecure about the sale.
Whatever it is when you put your home on the market you need to separate your emotional attachment to your property away from the monetary investment. This way you will see a bit more clearly what the market is doing and where the offer is in relation to this and you will be better able to take into account the advice your agent gives you.
If you’re that emotionally attached to your property maybe you shouldn’t be selling it. With the market the way it is at the moment you have to be real with price and think of it as not your home that you have lived in and grown in but as a financial investment that is your gateway to bigger and better things down the track.