Most of us are familiar with buyerâs remorse. Itâs that sinking feeling that, for any number of reasons, we shouldnât have made a recent purchase. We become filled with regret, second-guessing our decision to buy.
Buyerâs remorse is so prevalent that the BC Provincial Goverment is considering âCooling-Off Rule,â which gives the buyer â⊠seven days to cancel certain sales. Currently this is in place for pre construction Condos.
Sellerâs remorse is the flip side of buyerâs remorse and doesnât get nearly the attention that the latter does. This is because we typically donât sell something that we donât want to get rid of. When we do sell something that we donât want to, remorse may set in.
Selling a home is often a tough decision. You may have scores of rational reasons but when push comes to shove, the memories youâve built in the home may cause a gut-wrenching reluctance to leave.
If youâre emotionally attached to the home, itâs time to separate those emotions from the business aspect of what you are about to undertake. After all, selling a home is, at its core, a financial and business transaction.
Letâs take a look at a few tips to help you overcome some common emotional pitfalls in the process.
Turn a blind eye (and ear) to criticism (real and perceived)
Following your agentâs advice about preparing the home properly for the market is critical. Not only will it help the home sell for the amount you hope, but it may sell quicker.
Another bonus is that a well-prepared home should give you confidence in how it presents to potential buyers. Hold on to that confidence because youâll need it in the face of any criticism that might come your way.
I think that most of us have read at least a couple of reviews of products and services online. Regardless of the number of consumers who give rave, 5-star reviews, there is always a handful of them that find fault with it. A 100% 5 stars rate seems an impossibility.
Keep that in mind while your home is on the market. You may receive negative feedback from a buyerâs agent. You may receive a lowball offer that borders on insulting. You may be asked to rip out your âugly wallpaper.â
Should this occur, remember that the criticism or insult isnât meant to be taken personally. This, as I mentioned earlier, is a financial/business transaction. Try to brush it off as such and keep your emotions in check.
Disrupters
You wouldnât be the first home seller to feel that their home has become the âGrand Central Stationâ of the local real estate market. Especially in our current market; buyers are clamoring for homes.
On the flipside, sellers still have lives to lead, jobs to go to, kids in school and participating in athletics, etc. Then, there is the family time at home that many busy families treasure.
Despite this, youâll need to remain flexible for showings. Naturally, weâll help you find a balance between your life and home showings. Itâs up to you, however, to understand that the home is now akin to a product and, if you want to sell it, you will try your hardest to accommodate those who want to view it.
A few coping mechanisms to help you let go
âEverything Iâve ever let go of has claw marks on it,â said author David Foster Wallace. If you can relate to that, especially when you think about selling your home, read on.
From the time you sign the listing agreement until the ink is dry on the closing papers is dangerous territory for those who are prone to sellerâs remorse.
It seems, however, to get worse the closer we get to closing. Panic sets in and remorse and regret are typically not far behind.
One suggestion we often provide to our clients is to focus on the future. Think about the new home, how youâll furnish it, landscape it or whatever else may be planned for the future that keeps you optimistic.
Take photos of the current home, inside and out. Plan on taking a favorite plant to the new home (dig it up before the home goes on the market). Plan a goodbye-party and invite neighbors youâve grown especially fond of.
Then, focus on why you planned on selling it to begin with. Think about the current homeâs short-comings, such as how cramped the kids are in their bedrooms or how far the commute is.
Turn your attention to items that the new home offers that excite you. Concentrate on those. âIt will be so nice to have a bigger pantry,â or âThe new backyard is perfect for the dog.â
Finally, work closely with your real estate agent. Ensure the agent you hire understands how your connection to the home is deeply emotional and how that is impacting you. Ensure as well that the agent is a positive person, able to handle the ups and downs you may throw his or her way.
Yes, selling a home is stressful, even if you arenât that fond of it. But when you focus on what the future holds instead of what youâre giving up, the entire process will be much smoother.
About the Author:
The above article Yes, you can love it AND leave it Vancouver was provided by Regan Pyke, a Vancouver Realtor and a leader in the field of sales, marketing, and real estate investing. Regan can be reached via email at [email protected] or by phone at 778-228-2448.
Thinking of buying or selling your Vancouver West home? I have a real passion for buying and selling Real Estate, as well as marketing & real estate investing. Iâd love to share my expertise!
