Part five of a seven part series, the ‘Seven Costly Sins’ that home owners commit when selling their home.
Sin #5 - Letting emotions cloud your judgement
It is completely natural to have an emotional attachment to your home. Your home is the place memories are made, where you've raised your children and had years of fun. You develop a relationship with your home. The key however, is not to let this emotion cloud your judgement come sale time.
Emotions do their greatest damage when setting a sale price for your property. Emotions can over-inflate your price expectations which could ultimately mean you miss the market, or rose, cost you the sale.
It pays to make a conscious decision to 'let go' of your emotions and focus on preparing your home for market. For some this comes with the decision to move on, for others it can be harder to disassociate with their home. Try a little future thinking. Say goodbye to your home now and imagine yourself handing over the keys before heading towards your new home.
Selling your home is likely to be one of the biggest financial decisions you will ever make, so it pays to think of it as a business decision. Every decision you make surrounding the sale of your home albeit, the price, the improvements, the marketing and even your choice of agent should be motivated by the need to achieve the quickest and most profitable sale.
Sin #1 – Pricing outside the selling zone
Sin #2 – Displaying your home ineffectively
Sin #3 - Over Capitalising
Sin #4 - Ineffectively marketing your home
Sin #5 - Letting emotions cloud your judgement
Sin #6 - Choosing the wrong selling method
Sin #7 - Engaging the wrong marketing agent
This is an extract from “How to avoid the Seven Costly Sins homeowners commit when selling their home” written by Mark Lambie
Mark is a top performing Sales Manager with Ray White in Christchurch and can be contacted via email (mark.lambie@raywhite.com), mobile (0274 400 200) or visit his website
The information contained in this article is of a general nature and should not be taken as advice. It reflects the opinions of the writer only and does not necessarily reflect the opinions of New Zealand Home Loans.
