CHAPTER 2 Understanding the Home-Selling Process
Financially and emotionally, a home is often an individual’s or family’s largest single investment. That makes selling a home—whether a single-family residence, duplex, or condominium—the most significant and complex transaction a person will undertake, and for most people, no more than two or three times in their lives. It involves new terms and concepts, financial considerations, and dealing with larger figures than most people typically encounter. Emotions can cloud good judgment. As a seller, you might think, “Surely, my home, where I invested so much money and sweat equity and raised my children, is worth more than what the appraisers, prospects, and buyer’s agents think it is. They aren’t considering that the neighborhood was named ‘Most Livable’ in the local paper!” (That was five years ago, and the neighborhood has since changed.)
Emotions almost always create challenges in pricing negotiations.
Further, real estate transactions involve multiple decision points and often require a significant investment of the homeowner’s time, energy, and money. As a seller, you want to find the buyer who simply can’t resist purchasing your home at the highest possible price. To do that, you must present your home in a way that stands out from others on the market. This means creating a fantastic first impression—giving buyers an immediate sense that they are 7
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