Discover Why Mindset Matters in Real Estate
We can adjust our mindset to help us accomplish career goals as well overcoming personal challenges. To quote Mahatma Gandhi, ‘your beliefs become your thoughts, your thoughts become your words, your words become your actions, your actions become your habits, and your habits become your destiny.’
When it comes to selling your home-do you have a seller’s mindset?
Here are a few mindsets to embrace before you list your home.
Teamwork is Dream Work
Selling your home is a team effort! The selling process is time-sensitive and can be a complicated process. Commit to working collaboratively with your realtor, remaining open to different strategies and approaches. Likewise, your realtor should be open to your ideas as well. Have your home show ready and be flexible with showing times.
It’s a Business Transaction
Take yourself, your family and all the emotions out of process. This is not always an easy transition because you have spent many years in your home. You have decorated your home to appeal to your tastes, and have treasured mementos scattered throughout.
A great exercise to help you shift your mindset is to make a list of all features you want in your next home. Would your list include move-in ready, freshly painted, bright and sunny, attractive exterior? I think you get the picture. De-cluttering and staging your home are two of the most impactful ways to transition to the seller mindset. More often than not, your realtor will recommend you paint your walls, remove excess furniture, or potentially even stage your home. You want to create the atmosphere that appeals to buyers and allows them to picture themselves living in the home. TV design shows have influenced the buyer’s needs and wants and they rarely want a total “fixer-upper”. They want to see themselves in your home. Making these changes will create an emotional distance from your home and at the same time help the sale price.
Invest in the process upfront
You have heard this before, you have to spend money to make money and it holds true in real estate, especially if you have an older home. Power washing, painting, de-cluttering, and staging will pay off in the end. Should you decide not to make any improvements there’s a good chance that your home may linger on the market for a much longer period of time. Think about the carrying cost for your home during these extra days on market: property taxes, maintenance, utility costs and potentially mortgage. Work with your realtor to determine what improvements will get you the best possible price for your home and get the work done before listing your home. Time is money in real estate and nothing could be truer.
Selling a home is not only an emotionally taxing experience but can be a bit tricky financially. Sometimes, depending on the market, the process can take longer than anticipated so it is important that you stay in the game. Having the right mindset and remembering why mindset matters in real estate will keep you engaged throughout the process.
Creating the Vision that Sells
So you’ve decided to sell your home and there’s always a reason-
- The kid’s have all grown and moved on leaving you with too much house?
- Possibly a job has you moving to another town or state?
- Lifestyle change. You want more property so you can have privacy, a garden, or kids can stretch their young legs more?
- Your family is growing and you need more space or the “right space”
There are many reasons but one thing is for sure- if you’re moving because the space no longer works for your family there’s a strong chance that buyers will share the same opinion.
At the Vanderblue Team, we council our sellers from the very start to confront any possible objections so that we hit the market with solutions. Often times the challenge is the floor plan, the home is lacking a mudroom, or you need a playroom for the kids, or maybe the main floor lacks the open concept so many buyers desire. Whatever it may be it’s important to create a way to overcome the objection, because often times buyers have difficulty envisioning the possibilities.
As a Realtor we forge relationships with appraisers, mortgage brokers, real estate attorneys and various home service providers to assist in navigating the transaction. It may seem like putting the horse before the carriage but working with an architect to help market your house can be a seller’s best way to counter any objection right from the beginning! At the Vanderblue Team we often work with Tanner White of Tanner White Architects, LLC. An architect is trained to see options or opportunities. They visualize in three dimensions – providing an amazing added value to the equation! Having a physical drawing of what “can be” will definitely help a buyer visualize the possibilities and also reduce the time on market.
After the initial phone consultation the architect will meet clients at the property for a walk through where ideas, budget, timing and process are discussed. All this provides the homeowner or buyer with an overall game plan to consider, including an estimate for the renovation. From this point floor plans and renderings are developed and tweaked to meet the client’s desires. Clients always find it helpful to see what it can look like- really bringing the project to life by creating a vision that sells. As a Realtor, we like to include as many renderings as possible in our marketing materials. Providing a real vision will definitely create the emotional buyer who suddenly has that “A-Ha” moment they need to submit an offer!
151 Merwins Lane is currently on the market in Greenfield Hill. The house has a beautiful open concept main floor with 2 bedrooms & 2.1 baths. The unattached garage has a walk up full floor studio. Possible objection: This home needs a large Master suite and additional bedroom on the upper level to make this a 4 bedroom. 3.1 bath home.
151 Merwins Lane with the renovation: The expansion over the garage allows for the addition of another bedroom, laundry room, walk-in closets and a full master suite on the upper level. On the main level the proposed plan includes a mudroom, sunroom and direct access to the two car garage.
Lori Auerbach is a Realtor with the Vanderblue Team at The Higgins Group.