If you're considering buying a home, or selling your home, there are a lot of possible challenges you can end up facing. Having the right agent can ensure you're able to get through these challenges, but since some of the issues are universal, let's review some mistakes you want to avoid making.
1. The Right Price
Pricing a property is a science of its own. There are a lot of components and factors, so many small details that ultimately lead to the value of a home. Although there are a lot of websites with estimates, namely Zillow, the technology used on online sites to determine property values are simply not accurate. Zillow even states that their numbers can be inaccurate up to a whopping 20%. Without a background as a real estate professional, it's virtually impossible for a consumer to be able to know the proper components to price a home. When you're purchasing a home, you likely want to find a "deal." This can lead to stubbornness about what you're willing to pay and what you think a home is worth. What you want it to be worth can often be very different than what it will sell for. When you are a seller, you may want to sell your home at an inflated price, but this can lead to unrealistic expectations, and ultimately lead to an overpriced home that never sells. Don't make the mistake of assuming you know what a home's value should be. Instead, partner with a real estate professional that is truly working for your best interest, and let them provide you the tools to support home values so you can place an offer or price your home at a number that makes sense and is consistent with the market.
2. Refusing to Negotiate
If you into a sale or purchase refusing to make negotiations, set on what you want without exception, you're likely going to cause a lot of grief and stress for yourself during the sales process. When you're looking to buy or sell a home, you have to have an open mind about negotiations. They are a common practice within the industry, with buyers wanting to spend less and sellers wanting to net more. If neither party is willing to make negotiations, you'll find yourself in a contract time and time again, only to have it fall apart before you can actually close on the home. Having a great agent will help you ensure you make negotiations that are reasonable to lead both parties to the closing table, without compromising you.
3. Realistic Expectations
Although we all have an idea of what our dream home should be, sometimes the market and your budget don't realistically fit into check marking everything off your list. Find an agent that helps you look for the most important needs in your dream home, but keep an open mind to a home that fits most of your needs (not necessarily all of them.) Having too many expectations within a home can become stressful and result in never finding a home that really matches your needs. if a home has the main components you are seeking, get creative! See if the other things you want can be added down the road (this can be the fun part!) Have a certain number of non-negotiable items, like bedroom/bathroom count, but then have a list of "wants."
4. You're Not Alone! Don't Go it Alone!
Don't make the mistake of trying to handle the sales process on your own. There is a reason that the real estate procession and the laws around it are as strong as ever. Real estate agents are a necessity during the sales process to ensure the right steps are taken to get a home sold. Buying and selling is a difficult process that requires knowledge and expertise that comes from a professional within the industry. From legal terms to finding homes that aren't even listed on the market, there are a lot of ins and outs inexperienced buyers and sellers may not think about - which can lead to losing value on your home or never finding the right one. Avoid the stress of "learning the hard way" and find a professional that you trust that can give you the guidance that you need to get the task at hand completed and ensure you're happy with the outcome.
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