Some sellers apply a "certain kind" of logic when evaluating what their homes are worth that often simply does not matter: should you add the $50,000 cost to the price for those built in bookshelves in a rare wood that maybe no-one else likes? Does it really matter that something close by sold for XYZ without seeing exactly what it is they were selling? Do those exquisite gold plated faucets matter to the next buyer and are they willing to pay the $5,000 you paid for them.....25 years ago?

While certain improvements, additions and renovations do indeed matter when evaluating a property, their kind, condition, age and current market desirability matter much, much more. Above and beyond all of this, sellers must understand that a marketplace often entails comparable shopping. Being competitive in the market place usually matters most. How are you priced in relation to the competition? Can your same, lower or higher price be explained clearly, logically and verifiably to prospective buyers? And more importantly, will your asking price detract or attract real buyers and bidders.

The painful discussions with sellers explaining just how little value some of their additions and 'spends' have been is essential. Compliment them on their exquisite tastes, but also explain if those selections actually have transferable value. This should be done diplomatically, with empathy and delicacy, but it is important to make this aspect of valuation abundantly clear.