Buying and selling a home is high on the stress level – almost like changing or loosing a job, divorce and other life's troubles. The difference is that in other aspects of life, emotions can help to energize and lead to a better outcome. It’s rarely the case in real estate. How can we put the emotional energy to work for us and not against us?

During home showings
Sellers often look for feedback from agents who showed the house. If the comments are positive and the house does not sell right away, sellers get angry and confused as to why. They may think the agent is not doing their job. It could be that showing agents did not want to offend the seller.  If the comments are negative – the seller may take it personally and not want to adjust the price or maintenance issues that are suggested.
In both cases emotions are counter productive. A seller needs to look at the issues: is the price right, is the house staged properly, is the targeting on point, is the maintenance issues addressed, etc.? The energy put into these tasks will have a much better pay off.

During contract negotiations
Some of the sellers emotions are “ My home is worth much more; I don’t have to sell to THEM”. The buyers think “We are offering a great deal; we are qualified buyers; there are many other houses out there for us”. It is difficult to come to terms when the emotions take over. Instead, analyze the facts of the deal through objective data: prices of homes sold, your time frame, other costs involved if the transaction does not work out. Looking at facts allows for compromise, where emotions don’t.

After House Inspection
This is were I see too many deals fall apart. Emotions at this stage could be even harder to control, since it’s father along in the process and the stakes are higher. To put aside the emotions, buyers and sellers have to look at the issues and the contractual provisions. These are usually factual and could lead to resolutions, while emotions stand in the way.

Communications
It is always helps to keep the communication channels open, even in the face of adversarial relations. A good agent is invaluable in this regard and can do a lot to help focus on issues, deflect the emotions and get to a successful close.


 

4 Comments on Selling or Buying? Can Emotions Help or Hurt?

AUG
30
2007
51 Featured Posts

Faina

These are very good reasons why it is so important for an experienced salesperson to work with clients through the process.  These emotions if not managed correctly can make the home buying/selling process much less successful.  Thanks for your thoughts. 

6:16pm • #1
18 Featured Posts Localism Sponsor
Caleb - i can't agree with you more. I wrote this post based on real life and something that is happening right now. it would be safe to say several recent transaction survived because of our guidance and expertize.
8:12pm • #2
SEP
02
2007
215,126 Points Outside Blog

Good Post!  This is what our job is, to serve the client.  You hit it right out of the park!

It's a Good Life!

Fran Rokicki, Clubnet~Mentor, Broker~Ct

Oh, By the Way...I am never too busy for your CT referrals!

9:38am • #3
386,691 Points 28 Featured Posts Localism Sponsor Outside Blog

I find clients want an agent to listen to them, to not interrupt and to not necessarily agree with them. Part of good communication, aside from response time, is the art of knowing how to listen.

I try to capture e-mail comments from agents who have showed my listings, then I send those comments verbatim to the seller, even if they are negative. I explain that the negative comments are no reflection on me nor the seller nor necessarily the home. Most of the time, they are the buyer's interpretation. The person whose opinion matters. I always explain to my sellers upfront that it doesn't really matter what my opinion of value is nor theirs -- the only person whose opinion matters is the buyer.

Managing emotions, at least for me, is a comprehensive part of managing the entire transaction. My motto: "under-promise, over-perform."

 

10:30am • #4

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Faina Sechzer - Princeton, Montgomery, Hopewell, NJ Real Estate Expert

Princeton, NJ

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Henderson-Sotheby's International Realty

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