Are You Ready for the Real Estate Roller Coaster?
When you put your home on the market, you need to view it as just a house. Don’t be offended if someone wants to rip up your kitchen or paint over the wood trim. It's natural for people to complain when they're interested in something so while criticisms may seem negative, they're actually a good sign!
Never take things personally as it can cause negotiations to fall apart. Sentimental home owners who've invested years of hard work and personal love into a home are often put off by a low offer even though it's just a starting point. Having a real estate agent act as your 3rd party negotiator will help keep emotions at bay.
If you’re lucky enough to generate multiple offers, make sure you consider more than just the price. Conditional offers can send you for a real loop. There's nothing worse than accepting an offer just because it's over the asking price only to have it fall apart a month later when you could have accepted a firm cash offer that was almost as good.
Be aware of tactics such as low balling where an attractive price is initially offered only to be adjusted at a later point on the basis that circumstances have changed. In the meantime, your hopes have been raised to the point where you've already envisioned spending the proceeds. Recognizing these types of negotiation strategies will help you keep a balanced perspective.
When buying a home, do your research ahead of time to avoid emotional shopping. Although you want to keep an open mind, falling in love with a "fixer upper" when you’re looking for a turnkey home will probably end up being a mistake no matter what the price. Making a hasty decision based solely on an emotional reaction will likely result in buyer’s remorse.
It’s completely normal for home buyers and sellers to experience a wide range of intense emotions as they navigate through the complex real estate process. Just remember not to take things personally or let your emotions rule every decision. If you get on the real estate roller coaster with a competent agent by your side, not only will you enjoy the ride but you'll want to do it again and again!