St. Louis Real Estate Tip of the Week: Managing Seller’s Home Attachments

When I meet with sellers desiring to sell their home, I meet with them and assess theirhome history and level of attachment  I can be more effective in selling their home when I understand the attachment level and whether it will impact the sale.

When, I am hired to list, market, and sell a home, my goal is to create a product that is desirable to the majority of buyers and real estate agents, as soon as I introduce the property to the market.  As an agent, my responsibility is to sell a sought-after desirable product that garners the best possible selling price for my client. To me, the property is an asset to the seller. To effectively sell this asset and get the highest price possible, I have to remove impacting emotions the sellers express and work to help eliminate their attachment to the home.

Sellers tell me this is the home their parents built and the home they grew up in. In other words,  they have many memories and typically an extreme attachment to the home.  Other sellers tell me stories about how their children were raised in this home and took their first steps down a specific hallway. I have seen homes with walls and doors where the kid’s heights were marked as they grew each year. I have also known sellers who have taken these marked doors with them when they move.

Other sellers bought their home after marriage and thus the home carries memories dating back to their wedding day and those memories are strong. Many sellers I meet are now empty nesters, with all their children grown and out of the house. Yes, those sellers are so attached to the memories that each room carries. I have also represented senior citizens who have lived in their homes for 40 years and more, who have major difficulties letting go of their home.

When it comes to emotion, what’s predictable is avoidable if you’re willing to acknowledge and correct your own feelings and how they can interfere in your decision making. This blog will discuss the emotion of excessive attachment that plagues sellers.

Issues Related to Excessive Attachment:

1.     OVERPRICED. Sellers who are overly attached tend to want to overprice their home.  They are not as willing to listen to the recommendation of their real estate broker.  Their broker studies the comparable sales and what properties sold for in the past within a radius of the subject property.  But, emotional sellers tend to want to name a price that may prove to be unreasonable, as they also ignore market data that is presented to them.

2.         APPEAL. Emotional sellers may disregard their agent’s advice for home preparation.  Experienced agents know what buyers are looking for when previewing properties. They also know how to prepare and present a home that will attract the emotional attention of a buyer.  Many agents are recommending staging, yet, emotional sellers tend to disregard their agent’s staging advice.  Rather, their attachment to their furniture and decorations over-powers leaving a cluttered personalized home that doesn’t appeal to the masses.

Many times, emotional sellers improperly prepare their home for the market and refuse to make it move- in ready, attractive to younger buyers, and as neutral as possible to allow buyers to envision themselves in your home. Your taste and preferences do not necessarily equal the majority.

3.         CLUTTER. In line with the staging, agents recommend clean  and organized closets. De-cluttering their home, removing and packing up items that will eventually be given away with the move goes along way.  Agents encourage sellers to give as much away prior to listing.   Buyers look for closet space and if your closets are cluttered they will think there isn’t enough storage.

4.         REPAIRS. Once the home is listed for sale and offers begin coming in, as an agent, I have found another emotion in a seller when the negotiation begins.  Often the buyers ask for repairs or credits for specific work that needs to be done and emotional sellers want to ignore these requests.  My experience has been that emotional sellers have an attitude of rejecting buyer’s requests andtherefore have a difficult time creating a win win for all parties. This creates more tension and frustration for all parties. One way to learn expectations is to have a pre-home inspection. It’s better to learn ahead of time what is needed vs. waiting for the buyer’s to drop a laundry list of repairs and demands. Again remove emotion and understand the “reality” of the condition of your home. Buyers want to reassured they are making a good buying decision.

In summary, buyers who have truly prepared themselves for selling their home and have addressed the above items, will find the process much more bearable and much less emotional. Sometimes transforming your rooms with new paint, removing personal items and de-cluttering will make it feel less like your home and more a house to sell.

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Beverly Taki is a Missouri-licensed real estate broker who has successfully represented clients for 25 years.  She is a broker salesperson at Keller Williams Realty St Louis. 10936 Manchester Road, St. Louis, MO   63122. Beverly has earned a certificate in dispute resolution from Pepperdine University, specializing in negotiation and mediation. Taki can be reached at beverlytaki@kw.com or 314.677.6366.  Her website is beverlytakistlouis.com. Her blog is http://www.realestatestlou.com.