There’s No Crying in Real Estate

You LOVE your apartment. You carefully chose the perfect paint color and furniture for each and every room to make sure it created a Zen, feng-shui, chakra-aligning mood for you and all of your visitors. It deserves to be on magazine covers for being the most wonderful, perfect, amazing space ever lived in by a human-being. It’s the place where your oldest child took her first steps, the first place where you lived together with your spouse, it’s so much more than just walls and a floor. But, to your potential buyer, it may just be “an apartment.” One of many that they’ve seen. It doesn’t have sentimental value to them, or house their memories. They may not even be buying it to live in. It could be a pied-a-terre or a place for their adult children, or JUST an investment. Though it can be difficult, it is vital to the success of your sale to be able to remove emotion from the transaction. There’s no crying in real estate!

Or, at least, there doesn’t have to be.

It’s not a contest

Real Estate is not something you need to “win.” In an ideal situation, there’s some degree of give and take that results in a transaction which satisfies all parties. Getting angry with your buyer or acting out of spite can lead to a “tit-for-tat” mindset which can quickly ruin a deal.

Know your bottom line

Figure out how much money you need to walk away with. What points are you firm on? And where can you be flexible? How much can you give without compromising yourself? Knowing these things in advance can keep you from becoming emotional during negotiations. Instead of worrying about what you should do, you’ll already know if you can bend a bit or if you need to let the buyer walk away.

Your home may be your biggest financial asset

Do you get upset when you have to figure out your 401k allotment? Yell a lot when you sell a stock? Or is it just an impersonal financial transaction? For many people, their home is their largest financial investment, and sellers who can look at it as just another business decision will find it easiest to avoid the pitfalls of emotional involvement.

Follow the Golden Rule

Believe it or not, the buyer is not the enemy. In fact, ultimately both sellers and buyers have the same goal: the transfer of real estate from one party to another. Treat your buyer exactly the way you’d like to be treated. As a respected business associate, not a sparring partner.

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