The Early Bird – And All That Stuff

The Early Bird – And All That Stuff

Yah, yah, the early bird gets the worm. You snooze, you lose. First come, first served. A day late and a dollar short. I am not a morning person. I repeat, I am NOT a morning person. If you know me well, you don’t call me before 9:00AM. I get my second wind at about 9:00PM and could reorganize my entire closet until 2:00AM. So why did I join a business networking group that met once a week at 7:00AM??? (I asked myself the same question for 10 years…) I did it because I wanted to grow my business and be successful and I knew that group could help get me where I wanted to go. And it did. Procrastination is a deadly habit. It kills dreams. It kills motivation. And it kills success. In the world of real estate, if a Buyer waits to call a lender and they don’t have a pre-approval when they want to write an offer on a house, they probably will not get the house. I’ve quoted him before but, my business coach says, “If you have to sleep on it, you probably won’t sleep in it.” If a Buyer waits to go see a house, or has to ask all their relatives, or they want to see a few more houses first, or, or, or… In this market where houses are under contract in one day and many receive multiple offers, there is no time to wait. As a Seller, if you wait to call that contractor, handyman, or painter to do the few things you need to do to get your house ready to sell, they are likely going to be booked up and you will wait weeks before being able to put it on the market and possibly lose your best selling window. If you wait for a “better offer”, it may cost you thousands of dollars or a sale altogether. If a Seller waits to respond to an offer and misses a deadline, they run the risk of losing the Buyer. Even when you are under contract to purchase a home, if you procrastinate and miss deadlines you can lose the deal or pay some serious consequences. For instance, did you know that if a Buyer misses an inspection period deadline they must purchase the property AS-IS, with no repairs? Bottom line is, we are all busy. We all have a million things vying for our attention. However, if something is important to you, you have to set the alarm, look away from social media, and get it...

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Why Can’t I Lowball?

Why Can’t I Lowball?

You all know a person like this. You might be a person like this. No matter the item, no matter the price, there’s always room for negotiations and they will never offer, and rarely pay, full price for anything. They are the friend that will let the server know something is done right so they either get a discount, a free dessert, or a completely free meal. It is the person in front of you at the register that brings the clerk’s attention to a spot on a piece of clothing that deserves a discount. And finally, the “Buyer” that feels that a Seller should be happy to get any offer, even if it’s 15%-20% less than what they’re asking, no matter the value. Here are the challenges that arise: A Seller may be so offended that they may just reject your offer and not consider anything else from that “Buyer”.If a Seller decides to try to negotiate with the lowball offer, another (better) offer may come in and they may decide to work with the more reasonable offer instead.A “Buyer” may lose out on several properties and may be forced into renting, or not having the luxury of time on their side to make a good decision.A “Buyer” may lose all negotiating power during the due diligence portion if the Seller has come down in price and they may be stuck with a house in need of repairs or have to back out of the contract altogether.You may run the risk of your agent not working to represent you any longer. Most agents don’t get paid unless they sell something. If a “Buyer” continues to ignore the agent’s advice and continues to request to make offers the agent knows will not result in an accepted offer and closing, they may decide they need to spend their time with a client that is more motivated to buy or sell.  As you know, price is not the only factor that comes into play when evaluating a real estate offer. If you want to make a low offer more attractive, give the Seller something else to consider that may be a benefit to them. Is your offer a cash sale with no financing contingency? Can you close in 7-10 business days? Perhaps you can forego the appraisal contingency. You also need to consider the overall market climate and how the house is priced as compared to similar homes in the immediate area. If it is a Sellers market, (demand is high and inventory is low) most Sellers know they can ask and receive a fair price and possibly get more than what they hoped for. Often times in Sellers markets, one...

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You Gotta Move On

You Gotta Move On

I have attachment issues – to animals. There. I said it. If you are like me, you love animals so much that you even get attached to “celebrity” animals you’ve never even met. Social media is full of pages dedicated to all kinds of animals. Dog pages, bunny groups, Cats of Instagram, a famous raccoon. You name it, they have it. It is so much more enjoyable to follow and read about animals than anything else being reported in the media right now. The only problem is when they get sick, or don’t work out with other pets and have to go back to the shelter, or the ones that have been in shelters for most of their life, and you know, when the inevitable happens. You may wonder how this relates to real estate. Well, if you own a home, remember when you bought your first place? Maybe you started dating your spouse while living there and have wonderful memories. Or perhaps the home your children grew up in. There are even still families that have had the same house for generations and the children all go back to visit or maybe move back in once parents are unable to care for it. I have had clients who have told me they want to sell their home so we discuss everything that needs to be done to get it sold. We get professional photos, it goes on the market, we get a great offer and all of a sudden, the Seller seems to start being unreasonable about the negotiations. They don’t want to budge on anything and they begin to be difficult to the point that the Buyer is getting close to walking away from the deal. That’s when I sit them down again and discuss their objectives. Inevitably, there is a reason they are being stubborn and it comes down to the memories. They are still thinking of it as their home but when you go to sell, it needs to turn into your house. You gotta move on. Hold those memories close but begin to detach yourself from the building. You will make many more wonderful memories in your lifetime. You may have many houses and your home will always be where you make it. So, like the turtle we just released back into the wild, or my precious pup we said goodbye to just a short time ago, no one can take away our story – our memories. The house you are selling is going to be loved by someone that is likely in a very similar position as when you bought it and they are excited. Be excited for them. They will write a...

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While Supplies Last – A Guide to Multiple Offers

While Supplies Last – A Guide to Multiple Offers

You’ve seen the advertisements. They scream, “While Supplies Last” in bold to get you to feel a sense of urgency. Don’t wait or you’ll miss it! Get it before it’s gone! Early bird gets the worm. Maybe you buy, maybe you don’t, but then you see it, still for sale, two weeks later, at a reduced price. We have become so accustomed to this scenario that we just assume it’s a “cry wolf” technique and that it will still be there when we want it. Sometimes that is true. Sometimes it’s not. I have been through many real estate markets where multiple offers on the same house is the norm for certain areas and/or price ranges. It happens mostly when demand is high and supply is low. Buyers are often times looking for the same thing, in general. When we, agents, say we know want Buyers want, it’s because we hear it from more than one person and have seen it play out over and over. When listing agents give suggestions to make your house more marketable, it is based on their experience and what Buyers are looking for currently. When buyer’s agents tell you to act quickly and make your offer for list price or above with little to no contingencies, it is based on their experience and what they see and know to be the supply and demand of a particular area and/or price range. Here is a short guide to having the best chance at winning as a Buyer in a multiple offer scenario. Be pre-approved.You MUST have a pre-approval letter from a reputable lender or a band statement showing that you have the entire funds to purchase the home BEFORE you go see the house. When you fall in love with the house and want to write an offer, it likely will not even be considered or be very far down the consideration list if you don’t send the pre-approval or bank statement with the offer.Act fast.My business coach, Micheal Burt, says, “If you sleep on it, you won’t sleep in it.” If you wait to go see the house, if you wait until tomorrow to make the offer, if you need to ask your parents or friends, you probably will lose the opportunity to be in the game.Get personal. In most cases, this is someone’s home that you want to buy. They loved it at one point – and maybe still do. Write a letter to the Seller (if you include a picture – even better). Tug at their heartstrings. Tell them what you love about their home and what drew you to it. Draw a mental picture for them as to how you...

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Can’t Stay Silent

Can’t Stay Silent

The world goes on, yes. Business continues, yes. People still need to buy and sell houses and I am still helping make that happen. But for some, the world stopped or their business is gone. Innocent people are dying. Families are torn apart. I can’t stay silent. I, naively believe that love conquers all but where is the love? Where is the respect for others? For humanity? For your family? For yourself? What did you think would happen? What would you do if your brother, father, or son was murdered by a public servant paid to “protect our community” while others stood by and watched it happen? When a group of people feel they aren’t being heard, aren’t being respected, what are they supposed to do? This isn’t new. The world is broken. People are broken. And unless we start with ourselves, it won’t ever change. Look inside yourself. If there is hatred or anger, fix it. Passing it onto the next person isn’t going to do you or them any good. I saw a social media post from a friend. A mutual friend disagreed and very respectfully gave his point of view and some reasons why he believed differently. Someone this mutual friend didn’t even know started backlash against his comment and the way he responded to this random person was beautiful. He thanked her for her comments – and without a bit of sarcasm! He gave her a little background on his life that shaped his beliefs – experiences that she will likely never encounter. He complimented her and respected her opinion even though he disagreed. Get it? It’s that “simple.” I wish that didn’t make such an impact on me because I wish that was the norm, but it’s not. Celebrate diversity. Life would be boring, otherwise, and I learn so much from people that believe differently and aren’t just like me. I love my family, my friends, my clients, my fellow agents, my bandmates. I don’t care what color you are, what sex you are, what religion you are, how much money you make, if you have an accent, how much you weigh, who you sleep with or what your familial status is. If you’re a jerk, you’re a jerk. If you’re not, you’re not. I’m in disbelief, I’m saddened, and I’m not sure I truly know how to personally respond. But I do know I can’t stay silent. Real estate will continue and we’ll talk about it next week, but for now, I hope you will look in the mirror, be honest with yourself and make the necessary changes for...

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