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Probably almost everyone has heard of the phrase, buyer’s remorse. This is somewhat a feeling of regret that happens after a substantial buy, but a seller can equally get trapped in this situation. When it happens to the seller, he/she is likely to panic and might opt not to sell the property even when a potential buyer is found. Regarding real estate, seller’s remorse occurs when the sellers are not prepared to part with their property, may be because they view it as a bad decision, or when they are pressurized by the fact that they have to cash out the property.
As a matter of fact, seller’s remorse has become a common issue in transactions, and due to this, the article intends to provide various ways in which you can handle it.
Critically examine the costs and benefits of selling.
Before making any initial attempts of selling your home, it is essential to ask yourself if indeed it is appropriate to part with it. Though the question might seem simple, it does have some weight, bearing in mind that it will enable you to determine if it’s the right time to protect yourself against the seller’s remorse.
According to Weintraub Elizabeth, an associate broker and an expert in homebuying at Lyon Estate in Sacramento, California, the quickest and the easiest method of avoiding this particular issue is just by designing a list of the costs and the benefits. If you are able to find that there are more merits than the demerits, you should ultimately sell, adds Elizabeth. However, selling when the disadvantages outweigh the presumed benefits, is likely to place you at the risk experiencing the seller’s remorse.
Even though this is merely a theoretical concept, it is an important aspect to consider before discussing the probability of parting with your home.
Design a realistic and a solid strategy in pricing.
Apparently, various agents do encourage their respective sellers to list their properties in a competitive manner, with the aim of ensuring that the market finds it good. In most occasions, the sellers view this as an intention by the agent to get the home sold much quicker. However, the truth of the matter is that the agent is primarily considering the best interests of the seller.Pricing is one of an essential kind of a discussion you as the seller, can conduct with his agent. If by any chance, you find yourself resisting the suggested price by the agent of yours, kindly go through the available options or simply find a second opinion.As a piece of advice, one can always start out with a higher price, and if you note that there are no any activity in the first few weeks, you can often lower the initial price.
And if you didn’t know, those type of sellers who always hike up their prices even after the property has gone to the market are always deemed to be lacking a proper strategy, and who have a visible disconnect with their agents.
Always stay out when in doubt.
Nowadays, the prospect of selling a home is often done quickly in numerous parts of the country. Even though this seems to be an interesting news to homeowners and the housing market in general, a seller needs to plan in advance for the sale a few weeks before. If you didn’t know, finding a reputable local agent early enough in the whole process, and staying connected is the appropriate way to proceed in this new market.
If you are that individual who doubts his/her financial or physical situation, it is advisable to hold off listing. The largest mistake you can always make as a seller is going to the market and fail to sell in the long run.
Be prepared to relocate.
In certain situations, buyers can always be excited and anxious to move into their new-found home, and might request to close on your home in as little as a month. This is arguably a very short period for you to find a new location, and might lead you to a seller’s remorse. However, you can simply avoid this particular problem only if you have a clear post-sale program or plan. This implies that you must be prepared to move even before you place your property on the market, so that when an attractive offer comes your way, you may not have to reject it.
The above-described tips are quite easy and practical in nature, and you can easily employ them and avoid the seller’s remorse.