13 Things Your Realtor Probably Didn’t Tell You

 

What BUYERS Need to Know When Looking for a Home

  • Seeing more than 5 houses in a day will make them all a blur. Often people will want to “speed date” looking at homes. After 5, maybe 6 houses in a day, they all tend to run together and you won’t remember the details of each.
  • Looking at houses is exhausting. It doesn’t seem like physical labor, but it can be very tiring.
  • What you think you want is probably going to change. You will usually find floor plans and areas and amenities that are more appealing than you originally thought you might consider.
  • You’re going to get 80% of what you insist you need. If you get more than that, you’re lucky.
  • It will cost more than you originally thought. Plan accordingly.
  • Your credit score drives your interest rate. Get Pre-Approved.
  • In a hot market, you have to make an offer the day you find the house. If you’re not prepared to do that, you shouldn’t be looking yet.
  • If you have to talk yourself into a home, it’s not the one for you.

What SELLERS Need to Know When Selling a House

  • Having your house on the market is an emotional experience. It’s no cake walk to have your home neat every day and allow strangers in.
  • The first offer is often the best. Statistics say that 90% of first offers are the best offers. They are the most motivated. If you don’t like the offer, don’t discount it – negotiate.
  • It’s not about the marketing; many realtors market similarly. It’s what happens after an offer is made that will set your Realtor apart.
  • It will take longer than you think to be ready to move. Start packing and giving away now.
  • Do not take low ball offers personally. Unrealistic buyers may want to low ball in addition to asking you to put your home in mint condition. Some might keep demanding concessions. It’s not you, it’s them.
  • What your Realtor didn't tell you

2 thoughts on “13 Things Your Realtor Probably Didn’t Tell You

  1. The highest offer price is not always the best. Other factors like the probability of closing, time to close, the length of time for the buyer to terminate the contract (financing, title, HOA doc contingencies etc) should be considered. Often buyers make offers without even visiting the property, then drag out the process only to terminate the sale 40 days or more after going under contract. This has real costs to the seller and is very frustrating. A cash offer (or short lender approval period) can eliminate lender surprises and disappointments, but also consider if timelines for other contingencies (when does the earnest money “go hard”?). Consider the intentions of the buyer (If the buyer plans to tear down the house, the buyer is probably less likely to ask for concessions after inspection). Often good Realtors will help sellers to look at the big picture and each offer.

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