The New ‘Curb Appeal:' Curbing Your Real Estate Ego
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Description
One reason buying or selling a home is different than other transactions is because with real estate, egos are sometimes involved. We often hear about the importance of ‘curb appeal,'...
show moreWhen store shopping, most of us know what we want. The list can look different, too. For some, it might be milk, eggs and butter. The list for others may include coffee, a pair of shoes, or even a bicycle. When shopping online, this same principle applies. We're there for a reason.
Grocery shopping has little drama
One curious commonality about in-store and online transactions is the lack of drama. In part, that's because we don't usually haggle about price in those transactions. But they're also what might be called unemotional purchases.
Retail shopping is often low on the emotional scale
This frequently isn't the case for house shopping, where there's often emotion and a large price tag attached. So we can agree home buying is different than picking up groceries. Another difference worth considering is that home buyers typically deal with people much like themselves, not a faceless, corporate entity on the other side of the transaction. Absent that corporate dynamic, some home buyers sense they can leverage the human element to ‘get a better deal.' There's plenty of advice bandied about for bargaining with home sellers. At their core is the thought sellers can be manipulated. Among the most popular of these tactics is writing a sentimental, or ‘heart tugging' letter to accompany your real estate offer. Sometimes they work, but more often how the offer is written is what matters most.
Emotions and driving sometimes don't mix
Have you ever watched a normally calm person behave aggressively while driving? Perhaps they swerve in and out of traffic, or lay on the horn in displeasure when someone cuts them off. A similar phenomena can happen in real estate transactions, fueled in part by emotion and money. Personality changes can look different, depending on each situation. Sometimes they arise out of fear, or a desire for control. The point is that stress can trigger more aggressive behavior that frequently backfires. That's because depending upon how a home buyer is perceived, perception becomes reality to some sellers. Especially appealing to many home sellers is no added drama to what's often an already challenging activity.
So instead of blustering one's way through the offer phase with ultimatums or other counterproductive strategies, more sophisticated home buyers find it effective to first discern a seller's reason for selling. This provides a clearer picture of what approach might work best. Armed with that data, a more appealing offer can be drafted. Regardless, abandoning the notion of getting a ‘steal' is helpful, since aside from the occasional horrible real estate market, that's simply not the norm. Besides, most sellers review recent comparable sales with their Realtor before listing their home and therefore have a pretty good idea of their property's value.
‘Win-Win' transactions mean a good deal for all
‘Win-Win'
Real estate transactions are most successful when they include an eye for a ‘Win-Win' outcome. Simply put, make it easy for both sides to say ‘Yes.' A key point here is that this means someone doesn't necessarily have to lose. Making the ‘pie bigger' is one analogy, where a real estate deal isn't a ‘zero sum' game. So by enlarging the pie, it's possible for both parties to still meet their needs.
Moving day can be fraught
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Author | Oregon Real Estate Podcast |
Organization | Oregon Real Estate Podcast |
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