Ten years ago when I started in this business one of the first bits of real estate wisdom passed down to me was this: the two things that kill more real estate agreements than anything else are greed and fear. I can say now, based on experience, this is so true!
Many people are self sabotaging. While refusing to adjust a price to a point that will result in a sale from a "reasonable" buyer they stay stubborn and fixed. Greed (and often a very unrealistic sense of possibility) rules the day and the home languishes on the market and becomes "old news" and often finally sells for FAR less than it would have had it come onto the market at a fair price.
Some people think they are going to benefit by investing as little as possible in having their home professionally marketed. This seller greed usually plays out with a seller offering little to no incentive to professionals to show and sell their home. As a result, often, they end up selling their home for less than its worth because they haven't had sufficient traffic through to find the right buyer. By "saving" a few thousand in commission they all too often lose tens of thousands in sale price. (Helpful hint of the day....if you chose a real estate company/representative who is constantly bragging about how many properties they sell beware that in order to keep notches on their belt they don't under price your home.)
Buyers side of greed looks like the perennial "low ball" buyer. This is the buyer who wants to offer WAY less than market value. More often than not, low ball offers blow up, insult the seller and if per chance the agreement ever does come together, the seller will hold out for far more money than they would have accepted if a respectable offer came in to begin with.
How about the number of transactions that fall apart because of an appliance exclusion? Do you really want to stand on principle and let your dream house get away because the seller wouldn't leave the front loading washer? My mom had an often repeated saying for such action: "Don't cut off your nose to spite your face!"
Then there's the fear side! And, all too often family, friends and neighbours help with this! Picture a young couple so delighted with an accepted offer on a home they love....they even get a great mortgage rate. When they share their happy news, imagine someone waiting in the wings with nightmare tales of skyrocketing interest rates, "why back in the late 80's interest rates went about 20%!" Or other great encouraging tales of the one in ten thousand home sale nightmares. Way to help the couple sleep and feel good about their choice! In thinking they are "helping" usually by instilling fear, people are only dream killers. Anyone working with a trustworthy and experienced Realtor is in good hands; and they have an advocate making sure they are kept out of harm's way with property procedures and inspections along the way.
A friend of mine has a great expression he uses when people start thinking about "worst case scenario," he reminds a person to "STOP AWFULIZING!"
There will always be, and should always be, the right amount of care and tension in making decisions about what is often your greatest financial asset. You do need professional counsel to maximize your financial gain. But you don't need greedy, dumb approaches. You don't need to listen to the whisperings of fear mongers, you need solid guidance from a trusted pro.
You most certainly can and should have a peak experience when selling or buying a home! Just remember the definition of fair market value: "What a REASONABLE seller and a REASONABLE buyer will agree upon for price." Let reason rule and you will be both happy AND right!
Many people are self sabotaging. While refusing to adjust a price to a point that will result in a sale from a "reasonable" buyer they stay stubborn and fixed. Greed (and often a very unrealistic sense of possibility) rules the day and the home languishes on the market and becomes "old news" and often finally sells for FAR less than it would have had it come onto the market at a fair price.
Some people think they are going to benefit by investing as little as possible in having their home professionally marketed. This seller greed usually plays out with a seller offering little to no incentive to professionals to show and sell their home. As a result, often, they end up selling their home for less than its worth because they haven't had sufficient traffic through to find the right buyer. By "saving" a few thousand in commission they all too often lose tens of thousands in sale price. (Helpful hint of the day....if you chose a real estate company/representative who is constantly bragging about how many properties they sell beware that in order to keep notches on their belt they don't under price your home.)
Buyers side of greed looks like the perennial "low ball" buyer. This is the buyer who wants to offer WAY less than market value. More often than not, low ball offers blow up, insult the seller and if per chance the agreement ever does come together, the seller will hold out for far more money than they would have accepted if a respectable offer came in to begin with.
How about the number of transactions that fall apart because of an appliance exclusion? Do you really want to stand on principle and let your dream house get away because the seller wouldn't leave the front loading washer? My mom had an often repeated saying for such action: "Don't cut off your nose to spite your face!"
Then there's the fear side! And, all too often family, friends and neighbours help with this! Picture a young couple so delighted with an accepted offer on a home they love....they even get a great mortgage rate. When they share their happy news, imagine someone waiting in the wings with nightmare tales of skyrocketing interest rates, "why back in the late 80's interest rates went about 20%!" Or other great encouraging tales of the one in ten thousand home sale nightmares. Way to help the couple sleep and feel good about their choice! In thinking they are "helping" usually by instilling fear, people are only dream killers. Anyone working with a trustworthy and experienced Realtor is in good hands; and they have an advocate making sure they are kept out of harm's way with property procedures and inspections along the way.
A friend of mine has a great expression he uses when people start thinking about "worst case scenario," he reminds a person to "STOP AWFULIZING!"
There will always be, and should always be, the right amount of care and tension in making decisions about what is often your greatest financial asset. You do need professional counsel to maximize your financial gain. But you don't need greedy, dumb approaches. You don't need to listen to the whisperings of fear mongers, you need solid guidance from a trusted pro.
You most certainly can and should have a peak experience when selling or buying a home! Just remember the definition of fair market value: "What a REASONABLE seller and a REASONABLE buyer will agree upon for price." Let reason rule and you will be both happy AND right!
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