THE “I’S” DON’T HAVE IT

Seven clues your “I’s” are sabotaging a sale

Homeowners need to cut emotional ties and treat their property as an investment. A house is typically a seller’s largest asset and worth preserving equity. Each of the following “I’s” can wreak havoc with that value:

1. I will find the perfect buyer that will love the house in its current form as much as I do.

2. I don’t need to do anything to my house except clean and declutter.

3. But I want . . . .

4. And I like . . . .

5. If I am paying for the updates, I want only what I like.

6. I want my choices since I will be living here until it sells.

7. I don’t want to spend any money to sell my house.

SET ASIDE PERSONAL STYLE

All of these clues reflect a seller’s continued attachment to the property or misconceptions. Just like a professionally designed home, created specifically to meet only the homeowner’s needs and lifestyle, any “I” decisions reflect the seller’s personal choices. Taste-specific options limit the number of interested buyers, are associated with longer days on the market, and often result in significantly lower sales prices. With the “I” philosophy, chances are very good that the seller will be living there longer.

When selling a property, count the number of times you say “I.” Assume each “I” equates to losing thousands and even tens of thousands of dollars and that you are cutting your buyer pool in half. How many times are you willing to keep losing money and further cut your buyer pool in half? Too many “I’s” make it so that you, as the seller, are now the only willing buyer.

OBJECTIVE SELLING

Determine how much longer you truly want to live in the house and delay placing it on the market until you are really ready to move. Yet, properly preparing a house for sale takes significant time. If you are ready to start the process, but still in the “I” mode, start with organizing what you will move, toss, donate and sell. Make repairs and clean as you go. This provides time to transition emotionally from selling your home to making a profitable business transaction.

Do not make any decisions on colors, improvements and updates until you can step back and be objective about what buyers want. Realize that decisions made when still in “I” thinking are at high risk of creating new obstacles to a sale and leaving money on the table.

Focusing on what buyers in your target market desire will encourage them to say yes to a higher sales price.