Home Selling and Emotions

Speaker 1: [0:09] Hello, hello, and welcome to the Awesome in Seattle podcast. This is part two of our emotions of buying and selling a house. So this one is all about the emotions you feel when you're selling. Uh, so first off, let's get into the intros. I am Christian Nossum with the Awesome Nossum Group at Wilson Realty, and I have with us the one and only Jason

Speaker 2: [0:31] Solariaga. As always

Speaker 1: [0:33] Charlotte Reynolds

Speaker 3: [0:34] I'm not cool enough to have something that I say every week. No, you're not lame enough to have something you say every week.

Speaker 1: [0:42] And the awesome Les Cutting.

Speaker 4: [0:45] Howdy.

Speaker 1: [0:45] Or as my British phone voice, Surrey voice says, Le Cutting.

Speaker 4: [0:51] Ooh, we fancy now.

Speaker 1: [0:52] She's fancy. Le Cut. Le Cutting. So this, like I said, this is part two of our Emotions of Real Estate series, and there's really only two, uh, so it's not that long of a series. The first one was all about buying, so if you, if you're thinking about buying and selling, after you're done listening to this one, make sure you go back and listen to the buying, uh, emotions series as well. In this episode, we really wanna talk about selling, because it can be very emotional, and it's a different set of emotions than when you are buying. Uh, because this is, like, often the single largest financial transaction most people will ever have. And you need to try to, as best as you can, and again, emotions get into this, so it's not always easy. But try to think of this more as a business transaction with your decisions being made more on a financial basis rather than an emotional and sentimental basis, which often, obviously, in a home that you've lived in for years, often you have a lot of memories. You have a lot of sentimental, uh, you know, events that have happened in this home, and there's a lot of attachment to it, and those can sometimes take your, take over your decisions. So our goal today is to help you separate your emotions from the selling process, uh, so that you can do the best in your business decision. So let's get into it. All right, so the first feeling that you generally feel when you decide to sell your house is excitement.

Speaker 4: [2:21] Excitement. I mean, selling your house is a very exciting decision, because not only are you gonna get some extra cash if you sell your house or when you sell your house, and, you know, reap the benefits of being a homeowner, but you're moving on to the next chapter of your life. So that is als- That's a very exciting part, just moving on to that next journey in your life.

Speaker 1: [2:40] Yep. But right after that happens- Ah … the overwhelm sets in. Oh.

Speaker 2: [2:45] Oh, my gosh. Yeah, the feeling of being overwhelmed. You know, as a seller, there is a lot to do. You know, you often need to fix issues with your house. Sometimes this involves dealing with contractors, which is always fun. Sorry, Charlotte, we love your father. He's a builder. Uh, you gotta move your stuff or declutter so your house is really presentable for photos and showings. Right now with COVID, you know, it just adds a whole other level to all this, so- At this point, you also often start thinking about all the logistics involved with moving, from packing to dealing with kids in school, and Christian can talk about that. It's just easy to f- Mm-hmm … feel overwhelmed. But remember to lean on your agent here. Lots of sellers take on these burdens alone, and as agents, that's why we're here. We're happy to prep the house, coordinate all that we can for you, and take as much of the stress off your back as we can.

Speaker 1: [3:41] Exactly. That's why we're here All right. Sometimes you feel a little bit disappointment in this process, unfortunately.

Speaker 3: [3:51] Yeah. Everybody thinks that their own house is amazing, and therefore, you sometimes can believe that it's worth more than it actually is. So when a neutral third party, AKA an agent, tells you the price they think it will sell for, um, that can be hard for people sometimes, 'cause it obviously is very disappointing if that number is lower than what you had been thinking in your own mind. So, um, once you then get the house on the market, you can also feel a little bit disappointed if no one's really biting right away. If you don't get a lot of interest from the get-go, that can be kind of a bummer. So that's why we do actually try to mitigate that by pricing it a little bit lower, uh, because that will, you know, hopefully generate more interest, and then get you into a multiple offer situation.

Speaker 1: [4:37] Yep. And we will always determine these things with you, uh, hand-in-hand. Uh, and it all depends on the market as well. So there's a lot of factors that go into this, but we work hand-in-hand with you to come up with all that stuff. All right. So the next step is joy, and that is-

Speaker 4: [4:51] Because you got an offer. Yay. Woo. Yay. Super excited. All right. So it's obviously one of the most exciting calls that we get to make as agents, and, uh, telling you that you either have a offer that came in at full price or a little bit more, or you have multiple offers. We definitely love multiple offers because that gives you selection. Um, but all that hard work for prepping your house, it definitely starts to pay off or you start to see it, or you see the light at the end of the tunnel, I guess, is what I'm trying to say- Yeah … once you get that offer. So, yeah.

Speaker 1: [5:25] Yep. And sometimes after you get an offer, things can unfortunately get frustrating, but it all depends, again, on the market and what's going on. Yeah. Uh,

Speaker 2: [5:32] frustration, five years ago I'd say, "Welcome to my dating life," but I guess I can't really say that now because I'm, uh…

Speaker 3: [5:39] I

Speaker 1: [5:39] can say,

Speaker 2: [5:39] I

Speaker 3: [5:39] can say that now.

Speaker 2: [5:41] Very happily. Yeah. And so after accepting an offer, oftentimes the next step is the inspection period, and that can be somewhat frustrating for sellers on occasion. You know, the buyer is telling you all these things that they want you to fix, and, uh, essentially taking away some of your profit in the process. Quite frankly, some of these things may not be a big deal to you. It's stuff you might have learned to live with for the past five to 10 years. Um, but they very likely are quite important to the inspector or the buyer. Um, so trying to coordinate people to fix the items requested by the buyer can also bring some frustration. And again, this is where I'll, I just sound like a r- broken record, but this is where we as agents can really lean in and, and help. And the last thing that we see a lot with, uh, inspection periods, they often get competitive, and frustrations can lead to some decisions that aren't always the best because sellers sometimes get lost in the negotiation, and out of the frustration, they allow the deal to fall apart over what can often be a small sum of money. You know, one or two repairs or something like that. So it's important to really keep a level head and just keep your eye on the prize.

Speaker 1: [6:52] Yep, and that's where, again, you need to, you know, rely on your agent. Trust your agent. Whoever you hire, you need to be able to trust that they have your best interest at heart because they will help guide you, especially if your emotions do start to take over. They'll help remind you of what the big picture is so that you don't let something like, you know, a repair that's $2,000 or $5,000 derail a transaction that might be the best deal you're ever gonna get, and, you know, you're fighting over pennies when you got hundreds of thousands of dollars at the end of the tunnel

Speaker 2: [7:27] if you just stick with it. And can I just make another comment as a agent to agent, any agents listening to this, this is also where emotions shouldn't come in. Mm-hmm. 'Cause, you know, this is a business transaction- True … at the end of the day, and our goal is to represent our clients. So a lot of times just a, a little insight for y- y- y'all buyers and sellers out there listening, this is also where emotions can come out between agents and, uh, you know, tried and true agents can oftentimes see the light of the at, at the end of the tunnel too.

Speaker 1: [7:55] That's a really good point, and there's definitely been times where sometimes agents let their emotions get the best of them even though they're … that's not their job. Their job is to keep a level head and, and help their client and their best interest. So good point, Jason. All right. So sadness is also something that you can sometimes feel

Speaker 3: [8:15] It is time to say goodbye, and that can be really hard, especially if, you know, this has been your family home or if you've lived there for a long time. So I think sadness is really inevitable for most people, unless you're just like an emotionless pit of despair or something. Yes. Like, most people would be sad about that. Um-

Speaker 1: [8:34] Yep … Speaker 3: so we suggest, um, preparing to say goodbye by taking some pictures of the house once it's, you know, empty, or having a goodbye party or, like, little ceremony set in place ahead of time, just so you can, like, create that one last memory for yourself in the house. Yep, that's a good point. I mean, it's a, it's a good sadness because you're moving on to your next journey. And, and really that's what brings on the happiness. Um, when you actually do close on your house and that wire with a lot of money hits your bank account, that doesn't generally suck. So it's generally a happy thing that, uh, that you have sold your house. But it's true. I mean, selling a house that you've lived in for a while and you've built up some emotional attachment, it can be hard, and that's okay, and that's normal. I mean, it should be normal. I mean, you've, you've spent a lot of time and effort, and you made that house your home, and that's okay to feel sad that you're moving on to your next journey. But the goal, to remind yourself, is to think about what that journey is gonna look like o- on those next steps, those moving forward onto that next home, um, and all the excitement that goes with that. So, uh, that's about it. Thanks for joining us today. If you are ever thinking about selling, um, or just throwing some ideas around and want to, you know, see what your house could be worth, do not hesitate to reach out to us. We say it every episode, but it's super easy to do. All you gotta do is go to our website, awesomeandawesome.com/schedule, and you can schedule a strategy session right there with us. They're 100% free. There's no obligation. There's no pressure. Um, it's literally just a one-on-one chat with us to help you answer the questions that can lead you down the path to either make a decision to sell or not, um, and really just walk you through that whole process. So, uh, that is all for today. Those are the emotions that you generally feel when you sell a house, and we hope you learned a lot. Again, if you haven't listened to the Emotions of Buying podcast episode, just go back one episode and you will hear it right there. Thanks so much for listening. Bye. We'll see you next time.

Speaker 4: [10:50] Farewell.

Speaker 3: [10:50] Bye.