It takes more to sell a home than putting up a listing and hoping for the best. In order to make the most of your home sale, you need to get into the right mindset. Knowing what’s ahead and preparing for it will set you up for success. For that reason, it’s vitally important to get yourself mentally ready for the selling process. Here are our best tips on how to do just that.
Emotionally detach from your home
The first thing you need to do to get into a seller’s mindset is to emotionally detach from your home. We understand that this is the place where you’ve made many cherished memories. But in order to have a successful sale, you’ll need to treat it as a business transaction. Focus on the future and the life you want to create in your new home as you release the old one.
Set a realistic listing price
Speaking of emotion, it’s easy to let your feelings get in the way when you’re setting the asking price for your home. It’s essential that you instead get into a more research-based frame of mind. Don’t rely on a feeling to determine your listing price. Instead, research comps in the area, learn about the local market, and listen to your agent’s advice. Your agent will be using data from the market as well as a deep knowledge of the area to find just the right price for your home.
Manage your expectations
Every seller dreams of having multiple offers over the asking price, resulting in a bidding war. But unless you live in a really hot market, it’s unlikely that will happen. Manage your expectations when it comes to the offers you receive, and be willing to look at them all fairly. Don’t be afraid to consider offers that come with a lower down payment. Just because a buyer is putting down less money in the beginning does not mean they have bad credit or are a risk. It’s more important to look at the bigger picture to determine if the offer is a good one that is likely to make it to the closing table.
Prep your home
The fact is, your home probably won’t sell itself as-is. You will need to put in some work, and possibly some money, getting it ready for the market. This means making needed repairs or upgrades, sprucing up the curb appeal, and staging it for showing. The more appealing your home looks to potential buyers, the more likely you’ll sell quickly and for a good price. But it will take some time, effort, and money to get your home ready for showing.
Understand you’re part of a team
Finally, it’s important to remember that you are part of team. When you engage a professional real estate agent to help you with the sales process, that person becomes your partner. You will be working as a team with your agent, and will need to be open to ideas, suggestions, and advice. The same is true for your agent. You’ll want to partner with someone who will understand your needs and your experience with the home. By relying on each other, you’ll be far more effective than if each of you were working independently.