Almost every seller goes into the process of listing their home thinking it will sell for more than what the market stats show. In general, this is because the seller does not take “the psychology of selling a home “into account We all like to believe that the blood, sweat and tears we have put in, and the memories we have made, will translate to dollars when we list it. But they actually don’t.
Our labors of love will only be perceived as added value if they match the buyer’s exact tastes. Most often this is not the case. Buyers also have little value for your treasured memories and, in fact, the less they know about them the better. That’s why when we stage a home we remove all sentimental items and pictures.Instead, today’s buyers are lured most by is price/value relationship. They want to feel like the house has good value now and will increase later when they want to sell it. There is a great example of buyer psychology with a recent sale in South Orange. It was listed by four different Realtors over a period of a year before it sold. So what exactly is the psychology of the buyer and what made the house finally sell?
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Here is the case study: A perfectly charming Tudor style home in the South Mountain neighborhood of South Orange, walking distance to the elementary school and a bit of a longer walk to the train. It has 4 bedrooms 2 1/2 baths, a 2 car garage and sits on almost 1/3 of an acre.