When it Comes to Real Estate, It’s Not Personal, It’s Just Business

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Let’s face it – selling your home can be a pretty emotional experience. And in today’s hot housing market, buying one has become its own roller coaster. When going through the process of buying or selling a home, it can be challenging to maintain a business mindset with so many feelings, emotions, and memories involved. However, making decisions based on emotion can lead to a disastrous outcome. So here are some tips on how keep your mind right during your next home transaction.

For the Sellers

Be Real: Before anything, make sure you are truly selling for the right reasons. Maybe your family has gotten bigger, so you need more rooms. Or maybe the opposite – kids are all moved out and you don’t need that much space anymore. Can’t afford the property taxes? Looking for better schools? Just make sure you’re not listing your home because someone told you it would sell fast. Once you are committed to selling, start acknowledging right away that this is happening. Discuss it with your family or whoever else is involved in this business transaction. Talking about selling your home makes it real, and when it’s real, you can focus on the change.

Be Ready: People want to see your home with the potential of it being theirs. This means you’ll need to “depersonalize” by removing family photos, personal items, and yes, even your kid’s drawing on the fridge. Anything with your name on it like magazines, even the junk mail pile, needs to go. You may also consider bringing in a professional home stager to help. Taking your personal items out of your home is a big step, and a huge leap forward in helping you focus on the business end of selling.

Be Thick-skinned: If you’ve been in your home for a while (especially if it was “old” when you bought it) there’s likely going to be issues that need to be resolved. First and foremost, get an inspection so you can remedy any internal or structural problems. After showings, you may get some feedback from people looking at your home, via your agent, that can be hard to hear. Perhaps your farm style kitchen isn’t what they had in mind, or the yellow accent wall that popped for you doesn’t click for them. Keep in mind, it’s not an attack on you or your style.

Be Flexible: You may value your home at a certain price because it’s your home. But you’ll need to trust your agent who knows the market and your neighborhood best. They’ll look at comparable home sales and factor in many things you probably wouldn’t. Trust me, there is a method to this madness. If they suggest a lower listing price, it’s best to listen – plus in this hot market, you may get even more than you hoped.

Be Involved: Just because you listed your home, doesn’t mean you agent completely takes over. Be sure to keep you home decluttered and tidy for open houses or surprise showings. This can help foster positive feedback from potential buyers. And keep in constant contact with your agent so you know exactly where you are in the process.

But Not Too Involved: Please note there is such a thing as being too involved. For instance, it’s best not to be present for open houses; seeing the homeowner in the home can be off-putting for potential buyers. If for some reason you are there while your agent is showing your home, try to stay out of the way and avoid chatting with your agent in front of potential buyers, especially about personal matters.

For the Buyers

Prioritize: The dream home in your head probably won’t match up exactly to the houses you look at. That being said, you should have a list of priorities that can help narrow down the choices. There’s a fine line between “settling” for something and embracing the true potential of a house. At the same time, don’t write off a home right away just because it’s missing something on your “must-have” list.

Be Respectful: If you’re looking to purchase a home with a significant other, it’s important to remember that your tastes may not line up perfectly. Respect each other’s likes and dislikes and try to see things from each other’s perspective. Empathy can go a long way.

Be Patient: As a potential home buyer in seller’s market, you are likely to be up against several other buyers for that house you want. You may find out that a house is already under contract, or you may find yourself in a bidding war. Keep a level head throughout the ups and downs and remember that everything happens for a reason.

Be Smart: Know what you can afford before you start looking and remember to have a realistic price range. Don’t forget to factor in property taxes or any HOA fees that may be involved. Falling in love with homes that are above your budget can take an emotional toll on you and make you feel like you’ll never find the right one. Maintaining a business mindset about this investment can keep you anchored in reality.

For Buyers and Sellers

Be Prepared: Get yourself a trusted and skilled real estate agent. Ask your friends, read reviews, do your research. In addition to navigating the choppy market, the right agent can also be that reminder you need to hear time to time, “It’s not personal, it’s just business.”

If you’re thinking about selling your home and/or purchasing a new one, Maryanne Elsaesser and the Home Navigators Team are here to guide you through every step of your next home transaction.

About Maryanne:

Maryanne Elsaesser is known for individualized strategic planning and solving complex matters with calmness. Her clients say she is a "brilliant negotiator," tenacious, helpful, smart, creative, focused and has an amazing ability to read people. Consistent hard work puts Maryanne in the top 1% of brokers in the country. Maryanne is well-versed in contractual elements and understands the intricacies of navigating the most profitable net gain in each transaction. She can be reached at 551.206.9264 or maryanne.elsaesser@gmail.com.

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