- “I’ll know it when I see it.” Buyers should come into the home buying process with a list of must-haves and wants. Buyers that want to be taken seriously get preapproved. This helps to expedite the process of making offers and also to pinpoint the price range of what the buyer can afford.
Stuart and Will Nesbitt discussing real estate related matters in the office - “I’m not in any hurry.” Realtors don’t expect to rush you through the home buying process. At the same time, they don’t want to waste their time with a client that doesn’t have any firm motivation to make offers or to buy.
- “I’m not going to give it away,” or “it was good enough for me for 30 years, it ought to be good enough for a buyer.” Stiff prices based on feelings can result in a home with a price that will never sell. Realtors suggested prices factor in market value and current conditions.
- “Let’s test the market at this price.” This usually means that the price is too high and that the house will set on the market until it gets stale. Because it the home sets in the market for too long, people start to think there’s something wrong with the home and as a result the home ends up selling for less. Realistic prices get realistic offers.
- “My sister (brother, cousin, friend,) is a Realtor in another state and she told me that my house would be worth $XXXXXX.” This is a bad idea because no one, including another Realtor, can advise someone about real estate pricing in another state.
- “Let’s toss this low-ball offer in to see how serious (or desperate) the seller really is.” A common effect of a low ball offer is rejection and no counter offer. Low-ball offers just offend sellers and result in the seller not taking the offer seriously. Realtors can help generate reasonable offers that will progress the home buying process.
- “I’ve bought and sold lots of homes, so I know real estate.” Each real estate transaction stands alone because of several variables (e.g. property’s location, property’s condition, and market value.)
By Nesbitt Realty – a family business
