Real Estate Truth – Sellers are not defined by their property
I recently worked with a seller that caused me to develop the following: Real Estate Truth – Sellers are not defined by their property, any more than when they sell any other asset. Holly and I often help sellers value and sell their property on Cape Cod. Sometimes when selling their real estate, sellers get distracted from the facts.
The first fact is that once the decision to sell has been made, the real estate is an asset being converted into future opportunity. Few other assets cause sellers to carry emotion into a transaction more than real estate. It can be said that sometimes, selling a home is akin to grieving for a loved one who is moving away forever.
And, in these days of HGTV, commercials about "making millions in real estate", and passing real estate on to family members, there are so many influences on selling real estate that are new, historically. It used to be "as simple as" location, location, location. Now it has become more like compare Condition, Pricing, Location to all the things you see on TV or in social media. Properties today are compared to TV extravaganzas, Flips, Flops, Sales, Foreclosures, etc.
So here are some ideas for sellers who are struggling with letting go in light of all the new influences on their decision. The goal is to keep in mind that your home is now an asset:
+A property is not a bad property when it is badly priced; It is just a badly priced property.
+A property is not a good property because it sells; It is a property that was priced well for the existing property components, in the current market.
+All properties have a value. Not everyone will see the same value in a property.
+Sellers are not foolish for pricing their property foolishly. If they were fools, they could not learn from the feedback of the market.
+Sellers are not bad for wanting a high price for their property.
+A property's weaknesses, disadvantages, or poor-pricing can be itemized without defining the owner.
+It's silly to favorably or unfavorably judge a seller by how much their property sold for; when there are so many market variables that influence buyers at different times.
+A seller's self worth is not tied to their property.
+Properties have faults that are correctable, by negotiation and professional contractors.
+Repair, replacement, re-positioning, yes!
+There is no good or a bad property. Each property has someone who will accept it.
+A property can be acceptable without trying to prove it is acceptable.
+Accepting a property's market value, is better than trying to prove a property has superior market value; A superior value is self evident.
+Seeking above market value or superior pricing leads to languishing property and eventually to seller
frustration and missed opportunity. Market-acceptance avoids these problems.
+The price of a property can be adjusted without reprimand, embarrassment, or regret.
+The market value of a property can be acknowledged without being happy about the market value of a property.
+Sellers will at times need to depend on others to practically price their real estate, but sellers don’t have to be emotionally tied to the market price of their property. Practical dependence is a fact! Emotional
dependence is a fiction!
+It may be better to sell a property than not. But selling a property does not make the seller a better person.
+It may be worse not to sell a property. But not selling a property does not make the seller a worse person.
+Sellers who unsuccessfully sell their own property, are some of the most appreciative clients of experienced, real estate professionals.
+Condition, Pricing, Location.
©Copyright 2016, Heath Coker, 508-548-8888, MA Broker
Comments(29)