BLOG_ What is the process for buying a home? There are probably some commonalities among agents when it comes to opening doors but the special skills come when you get inside a home and they especially matter when you are negotiating a home for a buyer client.
Getting to know a new buyer is just like starting a new job. You come in with a certain set of skills that appeal to the buyer or perhaps the buyer was referred by someone they know & trust.You still have to listen to what the buyer is asking for especially taking notes of their pain points. Many buyers are concerned about their total monthly expense right now- affordability is a major topic of conversation. Also the cost of repairs or upgrades are high on a buyers list of concerns.
My clients have access to BrightMLS & Homesnap to see inventory live on the market. They choose homes they like & I do my best to use my knowledge of the areas to sort through their choices & pick homes that best match my clients list of wants & needs. Typically these days buyers caravan, but sometimes I still drive buyers in my car. I like it when buyers are in my car so we can talk about notable things in the area that we are passing along the route of homes we have chosen to see. I will have the listing details and all the showing instructions at my fingertips to make the logistics of opening homes go smoothly.
If no-one has even mentioned buyer etiquette when touring another person’s home, let me be the first to lay out some basic rules of the road;
If possible remove your shoes at the door or put on shoe covers
Do do not sit on people’s beds
Do not go #2 ( and avoid #1 if you can)
Look but don’t touch
If we turn on lights we turn them off & if the lights were on we leave them on
It’s important to look at the most expensive systems in the house too when you are previewing a home. Appliances, roof, HVAC, water heater and general structure including siding/windows/doors. Next we look at whether or not upgrades have been done to the kitchen, baths, floors, lighting, paint or if there are any value added upgrades like screened in porches, additions, patios, decks, pools, spas, or additional structures. If the condition is inline with the price, and the location the house should be a winner.
Next, we discuss the value and I bring in my knowledge of area sales and trends so that I can accurately determine if the list price is in line with the market value. If it is not, but a buyer still wants to write an offer, I lay out ways to bring the home more into balance; offer below asking, ask for repair credits or asking for closing cost assistance are some ways to negotiate a home’s worth.
If a seller is motivated to make a deal work you will get a counter offer. If a seller does not like the terms of your offer they may outright reject your offer. That may mean a seller has unrealistic expectations, or our idea of the home’s value could be off base but it is not always the end of the road. If a seller doesn’t sell for their desired price, in a quick amount of time they will most likely reduce the price coming into a range that you could work with or the sellers may call you back to try and work something out. Although buyers are getting many more concessions than they have in 5 years it is still a sellers market due to low inventory. However, buyers are winning in so many ways if you know how to maneuver in the market.
If you or someone you know is looking to buy in 2023. Get in touch with me. I would love to help.