I just watched my favorite football team lose. It's not that they couldn't have won, they very well could have. Fact is they have a good tradition of winning, especially on their home field, but today was a different story.
It all came down to making more mistakes and missed opportunities than the other team. A fumble here, a picked off pass, a foot short on a fourth down try, a penalty at the wrong time, it all added up to a big "L".
And the common ground with real estate? The difference between achieving your real estate dreams and missing out comes down to avoiding mistakes and not missing opportunities.
For home buyers:
1. Get preapproved BEFORE househunting
2. Hire a buyer's agent! Pick ONE agent that knows their stuff and stick with them.
3. Be realistic about what you want and what you can get (e.g. if all you want is a steal of a foreclosure in my market....you're destined for failure)
4. Understand you're competing with other buyers, so act promptly. When a new match comes on the market, see it ASAP. Like it? Get that offer written.
5. Speaking of offers, listen to your agent's advice. Your friend who "knows" real estate and tells you to offer 20% below asking price is no friend of yours when it comes to achieving home ownership. Your agent knows what is happening in the market and what normally can be expected.
6. Be reasonable in your "asks". The more you ask for in a competitive market, the less likely the seller is going to be receptive.
7. Continuing the "be reasonable" theme, that also applies to the inspection phase after you have an accepted contract.
For home sellers:
1. Prepare your home for the market
2. Hire a listing agent that knows how to best present your home
3. Set an appropriate price for the market conditions. Just like with home buyers, your friend isn't the place to get advice on this, your listing agent should be prepared with facts to support their pricing strategy.
4. Don't blindly trust for your agent. I know you'd like to, but it may be worthwhile to take a look at how your home appears online. Bad photos prevent sales. Inaccurate information prevents your home from being found.
5. Make your home available for showings. Not always, convenient, but it's necessary.
6. Be reasonable during negotiations and watch out for emotions. Yes, some offers may "feel" insulting, but the buyers might finish where you need them to if you don't shut them down with no counter.
7. Same thing for the inspection phase, some buyers will ask for something that seems ridiculous. Let's work through it.
Ready to talk buying or selling a Cincinnati area home? Call Bill of The Liz Spear Team of RE/MAX Elite at 513-520-5305 or email Liz@LizSpear.com.
Serving Cincinnati area home buyers and sellers,
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
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