Mistakes First Timers Make - Don't make one of them!

If this the first time you're considering buying a home, or are a newby home seller, there are a lot of possible challenges you could face throughout the process.

The right agent can ensure you meet these challenges with the right information to be able to decide without issue.

There are a few universal mistakes; let's go over the main four mistakes you do not want to make. 

 

MISTAKE #1 - NOT SETTING THE RIGHT PRICE OR THE RIGHT OFFER

Pricing a property is a science of it's own. There are many components, factors and details, that ultimately lead to the correct value of a home.

Although there are a lot of sites with estimates, the technology used on online sites to determine property values is simply not accurate.

Zillow has a disclaimer that states their numbers can be inaccurate up to 20%. Without a real estate professional, it's virtually impossible for the consumer to be able to know how to put together the components to price a home.

When you're purchasing a home, if you want to find a good deal, What you're willing to pay should not be determined by emotions, or what you believe a home is worth. But what you WANT it to be worth is not necessarily what it will sell for.

If you're a first time seller, you may want to attempt to sell your home for as much as you can squeeze out of it, but this strategy can leave you with your home unsold. An overpriced home never sells.

Don't make the mistake of assuming you know what a home's value should be. Instead, partner with a real estate agent that truly is working for your best interest, and let them provide you with tools to support the sales price, so you can either place an offer if you are purchasing or price your home, appropriately and get it sold

 

MISTAKE #2 - REFUSING TO NEGOTIATE 

If you go into a sale, or purchase, refusing to make negotiations, set on what you want, you're more than likely going to be filled with grief and stress during the sales process.

When you buy or sell a home, a collaborative, open mind about negotiations will take you very far.

Buyers typically want to spend less and sellers want to net more, So, if neither party is willing to negotiate, you'll find yourself with a fallen contract time and time again.

Having a great agent will assist ensure you make negotiations that are reasonable. This is a way to ensure that both parties continue to the closing table. Give and take is the name of the game 

 

MISTAKE #3 - HAVING UNREALISTIC EXPECTATIONS

Although we all have an idea in our mind what our dream home should be, sometimes the market, or your budget, doesn't fit, preventing you from being able to check mark everything off your list.

Your agent will help you find a home with your most important needs, but it's important to keep an open mind when a home fits most of your needs.

The rule of thumb for me is: If this home meets 75% of your criteria, you should seriously consider it.

Having the bar set high when it comes to expectations within a home can be stressful and result in never being able to find a home that matches your needs.

If a home has the major components you are seeking, get creative and see if the other things you want can be added down the road. Its perfectly fine to have a number of non-negotiable items, like bedroom and bathroom count, but also  have a list of things you want and thins that you need. 

 

MISTAKE #4 YOU'RE NOT ALONE, DON'T DO IT ALONE

Don't make the mistake of trying to handle the sales process all on your own.

There is a reason that the real estate profession, and the laws around it, are as strong as ever. Real estate agents are a moving force in the transaction and they ensure that the right steps are taken to finalize a transaction.

Buying and selling is a difficult process that requires knowledge and expertise that comes from a professional within the industry.

They can explain legal terms, find homes that are not listed on the market, navigate throughout the ins and outs that inexperienced buyers and sellers may not think about, preventing issues and managing every detail.

The stress of 'learning the hard way' can cost you dearly. Your Real Estate professional can provide you the guidance you need to get the task at hand completed and ensure you're happy with the outcome. 

 

As you can see, having an agent in your corner can make your life easier when it comes to buying or selling your home. Contact me if you would like a free consultation about buying or selling.

 

Lilly