The residential real estate business often seems like one big reality show. No, not realty show, reality show. It involves people making one of the biggest financial decisions of their life to buy or sell their home, their castle, if you will. As such, emotion comes into play throughout the process as does a principle or two along the way that can stifle otherwise sensible judgment.
To keep focused on realty matters, be clear on your objective. If you want to sell your home, then don’t concern yourself with what the buyers do or don’t do with the credit you are giving them. It is theirs to do what they want with and the fact that you gave it to them was likely an essential component to the success of the negotiations you were engaged in when you did it. The result is a sold home. Act up on the principle that they might not spend it as it was intended to be spent and you might be looking for a new buyer, thus delaying your moving plans by several months.
People often ask “Why?!!” when they see a property personalized to the extreme. The answer is simple, “Why — because they owned it and they could.” You can do the same thing when you buy it, so don’t worry about the seller’s personal choices; maintain your personal perspective and figure out what it would take to adapt the home to your preferences and lifestyle. Visualize the end result, estimate the cost of the work and adjust for the hassle factor of doing it. With that information, you can decide what the value of the property is worth to you today and if you want to move forward.
If you find yourself in a competitive situation, multiple offers, keep your perspective. What is the home really worth, what is it worth to you? If your friend or family member lives next door, you can pay more than someone simply looking for a home in the neighborhood. If somebody resonates with the home more than you do, don’t raise your price just because somebody else did — do you really want it and is it worth it to you at the price you are contemplating moving to? Don’t get auction fever; stay true to your goals and consult your agent about your situation and feelings. If it is a long-term investment, you might pay more and enjoy it longer.
People might make changes. If they are looking to change the easement relationship that you’ve had with your good neighbor for 30 years, you might decide not to sell to them. Your perspective in this case is to value your personal relationship more than the sale of the house. The completed sale isn’t always the best thing if they are going to rock the boat in a harmonious neighborhood. Sometimes neighborhoods gravitate to practices that aren’t allowed in the CC&Rs, but they work for everybody. A new person looking to strictly enforce the restrictions against the general lifestyle of the neighborhood can change everything and impact everybody’s values. Even though you are moving, your perspective of a good buyer can influence your decision here.
Our advice: When you buy or sell residential real estate, remember you are dealing with your habitat, so make your decisions on your perspective. The key is having a clear perspective unencumbered by emotion or principle. If you are hung up in one of those areas, how important is it really? You can’t eat principle, so be really sure that you don’t hurt you and your family out of a spiteful mindset; it is self-defeating. How soon can you move, how much do you put in your pocket, how much will you pay for it, etc.? All important factors, not like the emotional reaction when learning that they will be painting over the mural you had painted on the dining room wall.
Look at the situation through your eyes as well as that of your counterpart in the transaction. If you understand their motivation and they appreciate yours it is easier to have a healthy harmonious transaction. It is all about perspective, yours and theirs.
When it comes to choosing professionals to assist you with your real estate needs… Experience is Priceless! Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704. dpwtigers@hotmail.com
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