Leap Over Mental Hurdles when it comes to the Home Sales Process

March 19, 2012
Compare your home to keep pricing competitive

One of the best ways to keep from mentally isolating your home and being stressed is to view comparable homes often.

If you are thinking about selling your home this spring, there are a lot of things to consider from psychological stress to price and competition from

foreclosures to how to make the home most appealing to potential buyers. Psychological stress is one factor of selling that is often overlooked. Eve Becker has an excellent article on the Equifax Finance Blog about how to leap over mental hurdles of selling your property, “

When Selling a Home, End the Emotional Ties.”

Like any transition, there are some things you are going to have to accept to leave behind as a seller, including any notions you may have about what your home is worth or how much you have put into it. These are known as anchors and sunk costs.

An anchor is a fixed price that a seller expects the home to be attractive at to the open market. This is often related to how much the home was purchased for, even though market conditions have changed since then. The best way to get over this is to observe the market, especially comparable homes that have sold. These comparisons can help you realize what your home is worth to the current market and where you should price it to sell.

Another nautical term for home sellers is sunk cost. This refers to how much was paid on upgrades or additional things in the home you plan to sell, and dealing with the return on investment. ROI is often lower and sometimes much lower. A good way to get over this is to think about how much time you have sunk into the upgrade and how you got the cost out as enjoyment, rather than expect a buyer to pay top dollar for improvements.

If you avoid or overcome these and other mental challenges mentioned in the article, you’ll find a lot less stress when it comes to the home selling process. For more information about real estate, credit, retirement, insurance and more, visit the

Equifax Personal Finance Blog.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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