Despite the endless reports of the failing housing market and declining real estate prices, ask the average homeowner the value of their home and they are more than likely to give an inflated estimation. More often than not homeowners believe their home is worth more than what their neighbor’s home just sold for. It’s no surprise that an emotional attachment to a home that your family has enjoyed factors into the equation. Unfortunately buyers have no such attachment to your home and the buyer is the one that ultimately determines what their home is worth.
When the time comes to sell it is important to try to see your home through a buyers eyes. Many homeowners have made what they consider investments in their homes, improvements to increase their enjoyment of the home and what they think will make it more attractive to buyers. Often the things that sellers are most proud of, things that they feel give their home value, are the things that turn buyers off. A house that is over personalized will produce more objections from buyers than offers.
The somewhat unrealistic expectations of sellers can do them a great deal of harm when it’s time to sell. It is the job of a Real Estate professional to help sellers see the truth, even when it is not what they want to hear. The most important thing that a seller can do in this kind of market is to price accurately and avoid chasing the market.
RSS Options