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Emotional Mistakes Homeowners Make In The Real Estate Market

It is important not to become emotional when selling your home.  Hasty decisions are likely to be made when you let your emotions take over during the selling process. Avoid making the following mistakes:

1. Overpricing your home. While getting top dollar for the sale  is every homeowners dream, you must be realistic on the listing price in order for your property to stand out among the competition. Many sellers make the mistake and think that the extra features that they added to their home should allow them to receive more money than what comparable homes are selling for and that it is just a matter of finding the “right buyer” who will appreciate the home. This strategy will likely result in the home sitting on the market with the need to ultimately reduce the price to attract the buyers. At that point your property is no longer a new listing, but a listing with a price reduction. This change in status can work against you as buyers will view this as a sign that further price breaks may be obtainable. Furthermore, many of the serious  buyers anxiously await new listings, may have passed over your home if it came on the market at an unrealistic price.

2. Being present at home during showings. This tends to sour the experience for many buyers who would otherwise look more critically at your property to consider their options.

3. Do not reject early offers. The longer your property sits on the market, the lower the offers are likely to get. Once a home comes on the market, it will receive the most attention during the first two weeks.  As mentioned previously, those buyers who have been in the market will see the listing come up and if priced right this educated buyer will see the value and put his best foot forward with an offer on your home.

By avoiding the mistakes listed above, you will likely sell your home quicker for a higher sales price. While the emotional ties to the sale of your home are understandable, taking a more business-like approach will guarantee a more favorable outcome.

 

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