A common mistake that property sellers make is not communicating honestly with themselves and others because of certain fears, like financial loss, and lifestyle change. No property seller wants to be taken advantage of, so the natural reaction is to not trust anybody and therefore, not share the truth about your motivation to sell. The best way to prepare for a property sale is to simply decide whether it’s really time to sell or not. When it is the right time, you will know. Be honest and allow yourself to feel 100% motivated. With this honest approach you’ll be able to fight through the fears that are a natural part of a large financial and emotional transaction.
Communicate The Truth With Your Agent
When you decide to hire a professional Real Estate Agent to guide you through your sale, choose wisely so that you feel safe and comfortable with open communication. Even if you are already highly motivated to sell, remember that nobody can force you into action. Open communication between you and your Realtor is the best way to move through the process together. Your Realtor will listen to you, even if your statements are fear driven or self sabotaging. Remember that this process is a business transaction and should be handled professionally. Letting negative emotions take hold will cost you in many ways.
Listen To Feedback from Buyers and Agents After Showings
On your way to a successful sale you'll need to make adjustments based on the feedback of the buyers and their agents. One of the most critical tasks that a professional real estate agent should perform is the gathering of honest feedback. Most buyers will be viewing multiple properties during their search, and that offers the seller a critical opportunity for real-time market feedback. Your property is being compared to others and the buyers’ Realtors’ are helping them find properties that offer the most features at the best price. If you're losing out to other properties, you must make adjustments in your price and/or condition to stay competitive.
Accept Feedback Openly & Avoid Being Defensive
The best action to take when receiving market feedback is to simply listen and consider. Emotional attachment to your home is understandable, but you have to imagine yourself in the buyer’s shoes. Many sellers make the mistake of becoming defensive when they hear a critique and convince themselves that this feedback is incorrect. The key is to remember that it’s an opinion, and in the case of selling a property, buyers’ opinions matter! Another mistake is to look only for positive feed-back to substantiate the current price and condition, especially when that feedback is not leading to offers. Look for honest critiques that allow you to take immediate action and adjust your competitive position in the current marketplace.
Any large transaction will require effective and open communication. The sale of your property is no exception, and requires attention to detail. If you want any clarification on these important factors, please contact us to discuss how to prepare for the challenges communication will present during the sale of your property.
Understanding how to communicate during the sale of your property will set up course module #6 where you will learn how to negotiate the terms and conditions of the sale of your property in order to receive top dollar.