The writers, Bill and Liz Spear, have done an excellent job coming straight to 10 key mistakes to avoid. I find myself discussing all of these at various times and might add a few like;
Foregoing a staging consultation when selling because you are a decorator or have nice things. Decorating is not staging and buyers may be distracted or intimidated by your nice things.
Assuming Agents remember everything we discuss. Sometimes details may be missed due to focusing on other details you've mentioned. If something is important to you to have in an offer, email it and verify it's there before you sign the offer.
Assuming the "Perfect Home" exists at your price point. Compromise is part of the process, but only you can decide where you may have to adjust your wish list, your price point or both.
Enjoy this post. I think it's worth reviewing.
10 Real Estate Mistakes To Avoid
Been there, done that, got the T-shirt. But calling us to be your real estate janitors AFTER spilling red wine on the white real estate carpet, well there's only so much we can do! So how about avoiding these common mistakes BEFORE they happen:
1. Refusing to get a preapproval letter BEFORE viewing homes. What happens when you fall in love with a home and THEN find out you can't afford it?
2. Thinking you don't need a home inspection because it's new construction. Seriously, the county building inspectors check everything out right? They'd NEVER miss something major would they??
3. Thinking you'll get a better deal by going straight to the listing agent. The listing agent says "thank you very much for doubling my commission on this sale while NOT telling you everything I could tell you if I was working solely as your BUYER'S agent".
4. Going straight to the new construction builder without an agent because you'll get a better deal. MOST builders have already built an agent's commission into their overhead, so going solo means you increased their profit margin WITHOUT having your own representation. Builder's reps work for WHO again??
5. Thinking your home is worth 20% (or more) than all the homes like yours. Despite all the comparables your listing agent-to-be is showing you, you persist on "testing the market". If you're lucky, the market may catch up with you....in about 3-5 years...or more.
6. Thinking being home and giving buyers a guided tour will help them to understand your home. Home buyers HATE that.
7. Thinking because a web site says your home is worth $xxx,xxx that your home is REALLY worth that! Sorry, no computer algorithm can accurately price your home, there are just too many variables. And to be fully accurate, I need to visit your home. Anything based on tax records and what you tell me over the phone is an estimate. It'll be better than the computer guess, but not as good as it could be if you let me see your home in person.
8. Thinking your agent can answer EVERY question you have. Sorry, but some things are off limits to us. Anything remotely close to violating Fair Housing laws and we're going to ask you to do your own research.
9. Thinking every agent is interchangeable. We're all different, even within the same brand. And there are some niches that need a specialist! Expertise is developed with experience. E.g, if you've got to do a short sale, hiring sister Ellen who just got her license is NOT a smart move.
10. Not thinking about the resale potential of the home you're buying. Unless you're planning for it to be your LAST home, you need to think about selling it even before you buy it. If you're getting a great deal now because it's next to high power lines/backs up to a major road/has a bad lot, you're going to have to give that same great deal to the NEXT buyer of the home.
We're stopping at 10, but frankly there are MANY more real estate mistakes we can help protect you against, but you have to hire us first! Just call The Liz Spear Team of RE/MAX Elite at 513-520-5305 and we'll get started!
Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Liz direct: 513-265-3004
Bill direct: 513-520-5305
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