Two Hats

The seller's "hat" tells you that your home is way, way better than the others in your price range. You know every penny that has gone into making this home a palace and want it back plus more. Going out and looking at the competition is a great exercise. Take notes. Return to your home, arriving through the front door. Look at the value you can see, not what you know. Listen to your agent and be a seller. Switch hats; now you have the buyer's cap on. Let's go shopping! You have looked online and narrowed down your options by doing a drive-by. Looking above your budget is common because "this home is overpriced, and I won't pay that" buyer syndrome has entered your brain. You know the value and expect sellers to accept and understand your edict. Yesterday I had a call from a longtime client who fell in love with a new listing that he felt was "grossly" overpriced. It was on the market for 3 days. In the private remarks, it states there are 3 offers, one accepted and 2 backups. Over asking price. My client is now convinced his home's value has gone up dramatically and wants to sell.