Emotions of Real Estate
By: Phyllis Lerner, Realtor - Broker / Owner - Westchester County NY Tarrytown, NY
No matter how many times we try to explain to our BUYERS and SELLERS that real estate is a business transaction and you need to take emotions out of it, these emotions still exist.
SELLERS many times are emotionally attached to their homes. They have raised their children there and hopefully have many good memories. Their home is perfect... to them. So it is hard for them to have buyers come through and give any negative feedback. We, once again, explain that this is a business transaction and cannot be taken personally. Once an offer comes in that is low they are insulted. But no offer is meant to be insulting and they should always counter to see if the buyer is serious. You have to understand the BUYERS position formed by the constant reminders in the press that this is a "Buyers Market". You cannot blame them for trying. But in many instances they are serious and will come up to a price that both SELLER and BUYER can live with.
BUYERS also have emotions when looking for a home. I always tell them they will get a certain feeling when they walk into "the" home. You cannot force it, it's just there. So in saying that, I then again have to remind them to take the emotions out of the offer stage. It's a little contradictory but true. Also, if a SELLER does not immediately meet their offer sometimes they are insulted. Which does not make for a good negotiation.
My point in either scenario is, the AGENTS involved need to be the ones to keep the CALM. That's part of our job. We have to explain the emotion part and the business part to our SELLERS and BUYERS. If agents get wound up in their emotions then things may be said to SELLER or BUYER which can cause animosity between the parties. And if an offer is eventually accepted there are now bad feelings which is just not a good way to end a transaction. We want everyone happy at closing. So... stay CALM... and close the deal!
You may reach Phyllis Lerner at:
William Raveis Legends Realty Group, 37 Main Street, Tarrytown, NY, 10591 Office Phone: (914) 332-6300 Cell Phone: (914) 438-7556