5 types of buyers to watch out for when selling | News, Sports, Jobs
The housing market for sellers is the best it has ever been. Homes are listed and sold the same day, often with competing buyers paying above the asking price for your home.
But this is YOUR home! You’ve made the decision to capitalize on a lucrative market and find a new home for yourself, but when you place this listing board in your front yard, it will attract different types of buyers.
Many people think they can sell their home on their own. However, while real estate agents bring a level of expertise to the process, along with a higher selling price, they also save you from having to deal with the unique personalities of buyers. Think of them as your own bodyguard.
As a real estate agent, we’ve seen all kinds of people come in, go out, and get into houses. As a seller, not all frogs are a prince or a princess. While the market is well positioned to sell your home, as agents we know that we are going to meet a very large and interesting group of people who are interested in buying your home. By choosing a real estate agent, we manage these people for you and address their… unique personalities.
Much like the deals offered by these buyers, there is more to their story behind the deal. Here’s a look at the five different types of buyers real estate agents encounter, and learn how to deal with them when they help you sell your home.
Everyone loves cash buyers… just ask them! Cash buyers can come across as arrogant and aggressive, and with good reason. They don’t care about the world when it comes to funding incidents or even escrow periods, which helps them close the deal even faster.
Most of the time, discussions are quick and an agreement is even faster. The negotiations are immediate and you feel a bit like you have to thank them for even looking at your house to buy. While the cash buyer wants to “make it rain” to buy your home, be careful because flexibility is key to this group. An all-cash buyer will likely aim for a grossly lower than normal asking price or focus on specific contingencies they wish to make, otherwise they will be quick to walk.
While they want to flaunt their cash situation, their thought of a cash purchase means a lower price. A real estate agent can help you avoid this by appraising your home accurately and fairly, so that you get what you deserve and what your home is worth. But here’s the bottom line: the promise of cash is more of a boast than a financial benefit for you, the seller. You will get your product in cash regardless of the buyer’s payment method. A well qualified buyer who gets a loan is as good as money, so don’t be afraid to walk away from their outrageous demands.
These buyers are the opposite of the cash buyer. These people have little cash for a down payment and are likely eligible for FHA loans. While these loans help losers achieve the “American dream” of owning their own home, it can be difficult for you, the seller, as these loans have more stringent eligibility requirements, requiring you to do more work on it. your house or even to contribute to the closure. fresh. But everyone loves the underdog, don’t they?
These buyers are aware of their situation and don’t want to be a headache or a burden – they want each of you to WIN! Unlike the buyer who wants to “make it rain”, the underdog is more flexible to needs, don’t ask them for more money. A real estate agent has creative ways to make these buyers realize their dream while making sure that you don’t have to have nightmares during the transaction.
For these buyers, it was love at first sight. They are so in love with your home that they accompany the offer with photos of their pets or family, or even freshly baked cookies or brownies, making you feel like you’ve given them everything you want. they hoped for a house. But beware.
While these buyers make you feel warm and confused on the inside, these types of efforts aren’t paying off your mortgage and getting you the fair value on your home that you deserve. They are the most rewarding buyers you can meet, but those big gestures and thoughtful notes should be followed by an equally broad offering, representative of the feelings they have for your home.
It is still a business transaction. A real estate agent can make sure that you don’t lose sight of the fact that your priorities need to be kept consistent in selling your home for the right reasons and for the right price, while also making sure you don’t sacrifice the full potential of your home. house in the sale of a box. of chocolates or pumpkin latte.
We all have dreams. I wanted to be a professional boxer or even an actor on Broadway, but one day I smelled salts and roses knowing that wasn’t in the cards for me.
Beware of these buyers because while they dream of owning a home someday, it doesn’t. They take turns on the road and go to whatever open house they can find, but when it’s time to put pen to paper to make a deal, they never seem to find a pen.
Having a real estate agent helps you both identify these people from their appearances in several other homes where your real estate agent may have seen them, but also get involved in fruitless negotiations. These buyers aren’t serious about buying a home and are likely starting to engage in tough negotiations with lowball offers that are insulting to your home and your time.
Your real estate agent is your safety net. They will find out if these people are reviewing multiple properties and how serious they are about closing the deal. The more properties they look at and the more bland the answer, the more you should close your windows and tell them to go shopping somewhere else.
Few properties have been on the market for too long. However, if you find yourself in this situation, now you become the prey and the wolf buyers will start to prowl.
These buyers will examine every square inch of a home, trying to figure out why it hasn’t sold. They are intimidating and intelligent, but don’t let them get in your way. Be honest with them and make sure you disclose everything. A real estate agent will help you see what concessions can be made if the price is still right for both parties.
However, while this buyer is the first to pounce on your home, maybe they are doing it to satisfy another urge: to flip it. They may be individuals who are simply turning houses. Again, your real estate agent can help you negotiate and deal with this buyer, including whether this is the case by looking at real estate transfers from The Vindicator or Tribune Chronicle to see if they have been on the market. lookout for the city.
These are just five types of personalities you can meet when selling your home. Like when you create your memories in the house you are selling, you are not inviting just anyone into your house. Having a real estate agent is an investment in your peace of mind as well as the ability of your home to sell for the best possible price and buyer than it should.
Patrick Burgan is president of the Youngstown-Columbiana Association of Realtors.