How To Sabotage Your Real Estate Agent When Buying A Home
Working with a Realtor® to buy your new home in Humble, TX? Your goal is to get the best home you can for your money – a goal that, believe it or not, your agent shares. Some home buyers, whether they are looking for their first home, a move up home, or even their ideal retirement home, can sabotage the process in several significant ways.
Here are a few ways where you can shoot yourself in the foot when buying a home.
1. Over-emphasizing appearance
Homes with cosmetic or repair issues may have some bargaining room in the price, but buyers tend to exaggerate how much is necessary to make a home appealing. A home may only need professional cleaning, minor repairs, or a few updates to make it a competitor for a home that meets their needs, but buyers can turn a $1,000 job into a $5,000 or $10,000 in their minds, which causes them to walk away from a perfectly good home.
Your real estate agent can often give you a reasonable estimate of what repairs and updates are likely to cost and either be able to negotiate the price so that you can take care of these things or have the seller arrange for the work. Contrary to what you see on TV home shows, sellers are usually unwilling to upgrade to granite countertops and stainless steel appliances just because the buyers want them!
2. Dragging your feet
Purchasing a home is major for most people, which suggests the need for thorough evaluation and caution before signing a purchase agreement. When the real estate market is brisk, houses do not last. If you see a home you like, don’t be afraid to act boldly if the price and features meet your needs. Your agent will show you neighborhood comparative values to reassure you that you are getting a good deal.
3. Offending the seller
One of the greatest ways to offend a seller is to offer an embarrassingly low offer, but as a potential buyer, you can turn them off by adding too many contingencies that might allow you to walk away from the deal if you do not sell your home or get financing or if the property does not pass inspection. These contingencies protect you, but a seller may prefer to go with an offer for less money and fewer contingencies. In a tough market, if you really want a house, discuss the wisdom of making a cleaner offer with fewer qualifications with your agent.
Once your agent submits an offer for you, you may get a counteroffer from the seller. The seller no more wants to ‘give his house away’ than you want to overpay. You do yourself a disservice by not following your agent’s advice and making a reasonable counteroffer.
4. Bypassing your agent
Your agent works for you, while neither the seller nor the listing agent put your interests first. Some buyers make the mistake of talking directly to the seller or negotiating with the listing agent rather than having their own agent carry the ball in this endeavor. This can backfire, as you can disclose information about your finances or personal situation that will make the seller less likely to give you a favorable deal.
Trusting Your Agent
As an agent, Debra Lynn Leavings of Debra Lynn Properties is in the business of searching, finding, negotiating, and closing on a home for you. When you let her do the job she is trained to do, you increase your chances that she can help you find a great home at a great price in the Greater Humble area. Call her today at 713-352-3305