Sellers can remove, or at least minimize, the stress level when it comes to real estate transactions. Whether you are flipping a property for profit or trying to sell your own home, market uncertainty can often lead to sleepless nights and excessive worry, but it doesn’t have to be that way.
Here are some of the tried-and-true ways that sellers can cut the stress levels down:
Begin with a “backup” plan:
Markets can throw a lot at a seller. These things can include recessions, price swings, and potential buyers who make unexplainable last-minute decisions to go elsewhere, and others that put up unreasonably low offers.
The best defense here is a good offense, as they say in the world of competitive sports. That means having at least 2, possibly 3, backup plans in place is critical.
If you’re operating under time constraints, for example, decide on a cut-off date after which you will lower the asking price, or will simply unload the property for the best offer to date. But be sure to work with your selling agent on backup plans because they know the market and can help you create realistic alternatives.
Remove emotion from the process.
For those new to selling, it can be tough to avoid taking things personally. Keep in mind, however, that this a merely a business deal and no one thinks more or less of you for accepting or rejecting an offer. Nor should you let prospective buyer feedback get you down.
Instead, use the information to improve the look of the property or in some cases even consider adjusting the asking price. Sometimes, valid feedback can be worth its weight in gold because it is objective and can help to move the property more quickly. One of the most important tools in real estate is the ability to step into the buyer’s shoes and attempt to see what they see so that you can use that information to your advantage.
Similarly, don’t be discouraged if you don’t get offers within a specific time frame. Simply make this contingency a part of your backup plan and act accordingly. Perhaps you’ll decide to lower your asking price or put in a new set of kitchen cabinets. Whatever it takes to get an offer will help move the process along, and there’s no need to allow your personal feelings to get involved.
Let agents do their jobs without interruption.
This suggestion refers to your behavior toward your own selling agent. There’s no reason to continually call, text, message and otherwise pester an agent. Leave them alone to do their jobs, and the results will come in time. Many sellers make an informal agreement with agents that they’ll only “check-in” or touch base once per week, say on Sunday afternoon. That’s an excellent way to get regular updates on the status of the deal, but to let the agent work without hindrance or pressure.
Find a competent agent:
Spend time on this step because it is crucial that you have an experienced agent that specializes in selling and listing. Inexperienced agents, or agents who specialize in commercial property, may not always be the best choice. Similarly, working directly with buyers has its own set of risks as well.
Interview several prospective agents and find one you can work with personally and professionally. Time spent on this step will pay huge dividends in the long run. Not only will your property get the attention it deserves, but you’ll be able to rest assured that your agent is actively working on your behalf.
If you are new to the area, ask co-workers and neighbors to help you locate a professional selling agent. It never hurts to ask for assistance with this most important part of the transaction.
Don’t go to showings.
Some sellers find this suggestion quite tricky to follow. Just remember that prospective buyers are almost always uncomfortable when the owner is present at a showing. Why jeopardize a potential sale when you don’t have to?
Your agent will be sure to convey any important feedback or offers received during the showing. So while it is important to stay on top of the number of showings that take place, and the result of each one, be certain to avoid the urge to “hover” over these important events in the selling process.
Don’t let market ups and downs add to your stress quotient.
There is a better way, and it simply calls for adhering to the five suggestions listed above. Selling means profit, but it does not have to lead to stress.
Don’t let the stress of selling a home get the best of you. We buy houses in Buffalo. We buy as-is for cash, we cover the closing costs, and we close on your timeline. For more information contact us today at (716)-800-1414