How To Sell Your TN Home in a Changing Market:

Part 1  Sentiment Does Not Increase the Value of Your Home!

 The first step in selling your Brentwood, Franklin or Nashville TN home is letting go and pricing right! This may sound strange to you. Let go of what? Selling your home is always an emotional experience, regardless of the reason you are selling, be it a job relocation, upsizing, down sizing or a change in family circumstances, you are emotionally attached to your home. The home improvements you put your blood, sweat and tears into as well as your hard earned money. The fabulous neighbors who have become like family over the years, memories of children's accomplishments and laughter echo through the halls of your memories and your home. All of these can translate into what you consider the value of your home. However, a buyer will not pay more than fair market value simply because you worked hard on and loved your home and they may not be interested in being best friends with your neighbors, the flower beds you slaved over and babied may look like extra work to a buyer who will tear them out and plant hedges. It is not personal, just business. Sentimentality does not increase the value of your home. You must detach as much as possible emotionally when considering price. Would you expect a local TN bank to give you more than a $1bill for a $1 coin because you have had it a long time and the person who gave it to you was dear to you?
  

 Detaching yourself from your own sentimental view of your home is essential; you must look at it from a stranger's view. The market value of your home is only what a buyer is willing to pay for it and they will not pay extra for your memories. Your REALTOR® will be able to help guide you in what the current market value is, based on the current and most recent sales numbers for homes in Brentwood, Franklin or Nashville TN that are comparable in size, amenities, construction type, yr built, location and lot size. You may understandably feel that you are entitled to a price that includes your original purchase price, any payments made since, interest and any monies spent on repairs or renovations. The truth is that in a buyers market especially, but even in a sellers market, this sometimes does not happen. Why? Well first, a bank will only lend the amount an appraiser feels a home is worth and an appraiser may not assign the same value to certain upgrades that you spent when purchasing them. Some upgrades will make no difference in an appraisal at all. Second, a buyer may not like the custom paint job you spent thousands for and take the amount needed to re-paint off the offer amount. While the Granite counters you had installed look fabulous, they will not equalize the fact that your roof is nearing the end of its estimated life span or that your HVAC is older and will need to be replaced in the near future. Understanding that reasonable expectations are key to the successful sale of your home will help you price your TN home in such a way that it will sell faster for more in the long run.
 

   The single biggest mistake a seller can make, especially in the current market, is to price too high in the beginning with the thought that you can always lower the price later or a buyer can make an offer and negotiate. No home owner wants to sell their home for less than they can get and that is the fear most often responsible for over pricing, however, over pricing initially can have hard consequences. For example; a higher initial price will keep many buyers and agents from ever knowing about your TN home. Agents and consumers alike do home searches most often on the web or local MLS site and the first and foremost parameter is ...PRICE. If your Brentwood TN homes price is not within the parameter they set for the search they will never see it and with so many homes on the market they have no reason to search you out. A buyer must see it to buy it. Next is the home that started high and has lowered the price after 60 or more days on the real estate market. The first 3wks are the critical period for selling your Brentwood/ Nashville home. This is the time when the most buyers and agents will see it. Once they have either not seen it due to price or have rejected it due to price you will most likely not get them back. You only get one shot at a first impression!
 

  The longer your home sits on the market accumulating days the more the perception of value decreases in the consumers mind. They think something must be wrong with the home or that the seller will be getting desperate and accept a lower offer than they would have put in if the home was priced right to begin with. The first and most important part of selling your Brentwood or Franklin TN home is pricing it correctly without emotion and based on actual market numbers! That is why a REALTOR® is such an important part of this process, I have no emotional attachment to your home and I am an expert in your TN real estate market with the knowledge and skill to find the comparative market price and help you sell. Trust your REALTOR®, be reasonable and sell your home sooner rather than later!
 

 Call or email me now to find out how I can help you sell your Brentwood TN/Nashville TN home faster and for more! Ask about the 275+ web sites my listings are advertised on! The most coverage in TN!
 

Vanessa Stalets

Brentwood TN Homes

RE/MAX Elite

615-661-4400

© Vanessa Stalets 2008