When someone decides to sell a property there is usually a good reason. It may be something positive like adding to the family and outgrowing your current home or getting a promotion and moving to another town, state or country, or just becoming more financial and wanting something bigger or better.
Yet unfortunately it’s sometimes the complete opposite. It may be due to the death of a loved one and feeling it’s time to downsize, or being forced to sell due to financial difficulties, or maybe you and your partner have decided to go your separate ways and you are selling up to divide the assets and move on. For whatever reason, selling your property – your home, is an emotional journey. That’s why it’s important that you have a real estate agent who can help you through the process, not only in finding a new owner for your home but also enabling you to move on.
Generally, deciding to list your property isn’t an easy decision, especially if it’s been the family home for a considerable number of years. It is the role of the real estate agent to advise vendors in the process of selling. The agent needs to show empathy, research the reasoning behind the sale, listen to the vendor and their concerns, and talk them through the process so there are no surprises.
If you’ve spent years making your house a home, raised your children in it and have fond family memories attached to the property, there needs to be a process of saying goodbye and letting go. These are the first things your agent should discuss with you when you approach them about selling. These discussions help determine the best way to proceed and your agent shouldn’t put too much pressure on you to forgo this process for the sake of a quick sale.
I’ve often been asked whether I think it’s harder for a vendor emotionally when it’s a quick sale or a drawn out process. For all sorts of reasons people react differently to the sale process, and no two vendors are the same. The most emotional time for vendors is the time leading up to making the decision to sell. Once they have made that decision and are emotionally ready a quick sale is often better. Quick sales are also a lot less disruptive when you think about how unsettling it can be when selling your home and constantly keeping the property looking its best (especially when you have children).
Your emotional state also plays a big part in securing a competitive price for your home. Just because you think the fireplace is a fabulous feature and the heart of the home, doesn’t mean potential buyers will see it in the same light. Sometimes they may just see it instead as something that is hard to keep clean and maintain. Vendors often expect that their emotional attachment to the house will transfer to the buyer and therefore they will receive more than the market indicates the home is worth. In some cases this may be true, but it largely depends on the target market, if the target market is investors then there is rarely any emotion involved in the buying decision. I’ve also had experiences where vendors have held out for a price that the market will not bear because they are not ready to let go and that is their way of hanging on.
If you’re finding it difficult to take those final steps to sell your property, talk to your real estate agent. The right agent will encourage you to let go, assist you through the sale process and ensure the experience is positive and fulfilling.