A recent real estate listing appointment re-reminded me how important it is to empathize with my clients. The three siblings were selling their mothers SLC home, their childhood home, after their mom passed away in her early nineties. You know the kind of place, neat as a pin, classic pink bathroom tile, shag carpet, and knotty pine paneling. It's always a challenge to sell possessions filled with a lifetime of memories. Every corner, closet and alcove hold reminders and are unique. It's difficult to balance long term emotional attachments with the realities of a vastly slowing market. As a professional, it's my job to educate my clients into making wise buying and selling decisions. In today's market, these decisions are not easy.
When I'm speaking with a client who I think is not being wise, I try and put myself in their shoes. Imagine the homeowner who has witnessed neighbors sell at the top of the market in 2006-2007, walking away with a pocket full of cash. These homeowners are now faced with selling for 10%-20% less than anticipated. How frustrating this must be, and many home sellers (incorrectly) blame themselves...
I experienced many of these emotions making my own investing decisions. When I first started investing in stocks, I was terrified to leave ANY profit on the table, and as a result sold at the first hint of a profit. As an example, in 2002 I purchased shares of MFW, a small company that makes licorice extract. It sounds exotic, maybe a little weird, but I was jumping for joy when shares I purchased at $4.06 rose to over $6.00 a share. I sold....Over the next year, shares of MFW rose to over $13.00 a share! Even though I'd made a tidy profit, I felt miserable. How could I be so stupid!
None of us has a crystal ball, so its silly to BLAME ourselves for what in hindsight appears to be a bad decision. Even so, there's a difference between intellectual and emotional understanding. As a realtor, I remind myself of this reality and remember my investing mishaps, understanding and helping my clients make wise, if painful decisions. (realtor.com, real estate listings)
2 comments:
As an experienced professional who has helped many Utah County residents sell their homes, I know how to handle every aspect of the sales process from strategically marketing and shwcasing your home to making sure everything is signed, sealed and delivered by the closing date.
Salt Lake City Realtor
The job description of a Realtor includes being available to the clients at all times, helping them find the perfect house and keeping in mind the best interest of the clients. I'm a Salt Lake City Realtor for a couple of years and a permanent resident of Salt Lake City.
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