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The 10 Laws of Seller Success – Part 2

Posted by Sherry Rioux on June 28, 2012

The way in which sellers approach the process of selling their property can most certainly affect the outcome. If you are reading this, chances are you’re in the selling mode and these thoughts may do a great deal to help you through the selling process.

In today’s post, we look at the final 5 laws of seller success.  To read the first five, click here.

Law #5 – Go For a Coffee
It’s important for sellers to stay out of a potential buyers way and really, it’s best if the seller is not home at all.  It makes buyers uncomfortable and rather than seeing themselves living in the house, they only see you.  Also, buyers are reluctant to express their likes and dislikes if the seller is present so it makes it difficult for the REALTOR® to address those.  I’ve shown a few homes lately that are For Sale By Owner and each case, the sellers hovered and overshadowed the showing to such a degree that the buyers couldn’t wait to leave.  So, go for a coffee, a walk or a visit during showings.

Law #4 – Communicate and Listen To Advice – from your REALTOR®
You and your real estate agent should work together as a team.  You both have the same goal in mind and that is to sell your property. Communicate your feelings, concerns, questions and feedback with your agent and please, listen to their advice as well.  Your REALTOR® is there to help you.  They have hopefully sold lots of homes so take heed of their advice on the steps to getting your home sold and trust in the process. I know your Uncle, sister, neighbour, boss and friends have all given you advice but really, have they got the same degree of knowledge and experience that your REALTOR® does?

Law #3 – Be Fair and Reasonable
This Law of Seller Success applies to both the marketing process and the offer negotiations.  I’ve had sellers demand that we hold an open house every week-end, advertise in expensive Toronto newspapers weekly, only show the home when they are present and other such unreasonable requests. Instead of demanding things that may have no effect on getting your home sold, ask your salesperson what does work and how they plan to execute their marketing strategy you’re your property.

In the case of offer negotiations, you need to check your ego and emotions at your door. When an offer comes in, review it carefully giving consideration to all of the terms and conditions of the offer and not just the price (although that is pretty important.) Do you really want to risk thousands of dollars by not including the 10 year old stove they asked to have included in the deal?  Be reasonable and refer to law #4.

Law #2 – See The BIG Picture  
When you sell your home, it’s only natural to consider what you paid for it and what you want to get out of it. You wonder if you are selling at the right time.  You wonder if you should have put in hardwood floors or a new deck to try for a higher price.

Focus on the big picture of your life goals.  If you want to sell because you want to be closer to family or because you need to relieve some financial pressure or for any other reason, it’s always a good idea to keep that ‘ultimate scenario” in mind.  You may end up selling for less than you’d hoped but then, you may also buy for less than you planned.  The bottom line is that you have a goal and factors such as price, market conditions and your location are things that can’t be changed.  They simply are what they are.  Make your decisions based on reality and life goals rather than on the little details.  Getting an extra $1,000 in your pocket today will not change your life five years from now but missing out on a life goal, certainly can.

Law #1 – Let Go
This law sounds very strange, doesn’t it?  It took me many years to learn this one myself and to fully appreciate its impact.

Things happen for a reason.  We don’t always know why but it’s a fact.  I’ve seen houses listed for over a year that suddenly get multiple offers and sell for full price or more.  I’ve seen buyers lose out on a house only to find a much better one later.  I’ve seen sellers worry themselves sick over selling their homes and only at the point they emotionally let go, do we see offers.  I can’t explain this but know it to be true.  If you as a seller do everything right as in laws #2 through #10, then try to let go emotionally of the process.  Live your life each day, let your REALTOR® handle the details and trust that the outcome will be the right one at the end of the process.

It’s always a pleasure to meet new people and to assist them in meeting to their real estate goals.  If you would like to schedule a buyer or seller consultation with me, please feel free to contact me anytime at 705-446-1762 or send me an email.

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