Selling a Home?
The Emotions of Selling Your House
Every Seller asks why they should do to prepare their house for sale - that’s an important question and worthy of discussion. An even more important discussion, however, is preparing Sellers for the *emotional* experience of selling their home - particularly in the current, Buyer’s Market.
Although we’re blessed that the housing market in the Triangle area of NC has not been hit nearly as hard as many (many!) other areas of the country, our market, too, has more Sellers than Buyers - a fact that is unlikely to change any time soon. Consequently, the harsh reality is that some Sellers *will not* be able to sell their homes: either because the market will not offer a price that the Sellers are willing - or increasingly, are financially *able* - to accept, or because the house just doesn’t stand out enough from the competition to be chosen by a Buyer. This is truly a Market for the Motivated.
I am frank with my Sellers about the probability of their home selling and the price at which we have the best chance of accomplishing that goal. I’m a very Big Believer in frank and honest communication - I’d rather turn you down now than let you down later!
In addition, it’s just hard to be a Seller - even in a strong Seller’s market! Your family must live in that completely artificial state of a Show-Ready home: always tidy; beds always made; no dishes in the sink, toys in the living room or toasters on the counters. Each morning the house must be Show Ready because there might be a showing that day - that’s a hard way to live!
And worse still when the house is prepared each morning and - again - there is no showing.
A recent Seller contacted me after another agent had been unable to get their house sold. This lovely family with 3 young children kept the kids’ toys packed away and kept the house Show Ready for 9 months - and had just 1 showing in that timeframe (!) That’s incredibly stressful for a family! Fortunately, we made a few adjustments and got their house Under Contract in 2 weeks - because that family absolutely deserved a break from all that cleaning!
In addition to the Show Ready stress, the family has to begin separating emotionally from the house to be able to objectively consider an Offer. But it’s hard to transition from “Our Home” to “the house we’re living in right now” - particularly when there’s a chance the house may not sell. It’s similar to ‘letting go’ emotionally from a job - in my 20+ years managing big sales teams for corporations, I never once saw an employee who didn’t at least partially ‘check out’ of their position long before they left the company. You have to have some emotional distance to even *begin* looking for a job. And the same principle applies to looking for your next home.
Layer on top of all those emotions, that the house is for most of us the biggest single financial investment we’ll make. That’s a whole pile of emotions to manage thru a prolonged process!
So, what helps? What advice do I share with my Sellers? First, that they will experience a full range of emotions about the process of selling their homes. They will be elated at times and dejected at times. They will be confident they’re making the right decision and they will be adamant that they’re making a terrible mistake. And all of that is normal and healthy. Also that they can always talk with me about how they’re feeling - because supporting my clients’ emotional needs is just as much my job as evaluating market conditions.
It’s also frequently helpful to remind my clients of why they want to sell - their motivation to move is frequently lost in the swirl of conflicting emotions. And last, to help them bear in mind that they are always in control - tho it frequently feels to Sellers that they’re not. Our goal - our mutual desire - is to find that one Buyer that loves the house as much as they do and to find that Next House that allows the Sellers to envision that better future for their families, too.
Got a question about real estate or a suggestion for a future blog? Great! Just contact us a RealEstateMimi@yahoo.com or via phone at 919-882-3276!
9.17.2010