2019 Apr 17th

Letting Your Emotions Get the Best of You When Selling your Hoboken Home

Hoboken home and condo sellers just recently emerged from a long period of unprecedented price appreciation.  It was common for sellers of properties to receive multiple offers in a matter of days.  Sellers just assumed that their property was worth a significant bump up from the most recent, similar sale.  After multiple bull years, the Hoboken market has seen a change.  While some property owners and sellers may be distraught about the current state of affairs, it is today’s reality.

Putting your home on the market is stressful.  In fact, if you google “most stressful life events”, moving often comes up in the top 5.  There is no getting around it.  Not only are your finances going to be impacted but changing everything about your life is a huge step to take.  Packing, organizing the logistics, starting life in a new place often with new schools, a new job, new place to grocery shop, new decorating and renovations.  It adds up and it can be scary – most people are averse to change.  Putting your current home on the market is often the first step in that process.

Compounding what is a already an emotionally fraught process, I have observed that sellers tend to become very emotionally involved in the sales process.  Ultimately, you are selling an asset in a business transaction.  When it is your home, however, there is lots of baggage that comes along with that transaction.  It can cloud one’s objectivity and judgement.  Sellers often put too great a value on their home due to the memories they associate with it.  They can’t see it subjectively.  Another common mistake sellers make is that they base their pricing and subsequent negotiations on need rather than the actual current market.

There are many articles written on how to avoid allowing your emotions control you.  One of the best pieces of advice I’ve seen is to let people close to you whom you trust be a sounding board for your ideas and as you navigate your way through decision making process.  They are likely to be insightful, kind and much more objective than you if you share with them your thoughts.

It is always a big step to sell your home and it helps to stay focused on the benefits that you will reap as a result of your move – be it a new job, better schools, more space, a nicer place, or just a simpler life.  Try to take a step back to gain some perspective as you go through the process and remember – everything, I mean the absolute worst homes you can imagine, eventually sell.  Of course, having a great agent to guide you through the process helps.

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