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Adam Menconi's Blog

By Adam Menconi | Agent in Santa Rosa, CA

Rules to guarantee your Offer doesn't get accepted

Buyers nowadays are the most inoformed Buyers we've ever had in the history of real estate. They search properties online, track their neighborhood sales and let's not forget . . .  they watch a lot of HGTV.  There are quite a few Buyers that I've run into during the first part of this year that literally shot themselves in the foot right after meeting them at an open house.  Here's why.

1.  A Real Estate Agent is not a Jedi.

He cannot use mind tricks to get you to do something you don't want to.  I find it hilarious that when I do an open house, I often get Buyers that are literally afraid of me.  Remember, if you go to an open house, get as much info that you can from the agent.  The agent is representing their Seller and will often give you information that you didn't know about the property, neighborhood, etc.

2.  Be Courteous to Everyone.

This happened years ago with one of my clients.  They went to an open house, met the other agent and were rude to him.  I knew him and he's not pushy at all but they were extremely rude to him.  It didn't matter to them since they didn't like that house.  As luck would have it, that same agent got another listing 2 weeks later that they LOVED.  Do you think they got their offer accepted?

3.  Be Prepared.

Don't put the cart before the horse.  Looking at houses because you're trying to get design ideas is fine but if you're actually contemplating purchasing, do yourself a favor and talk to your real estate agent right away.  He/She will coordinate a meeting with a reputable lender to put together a battle plan to get you preapproved.  It could take 6 months or it could take 1 week but you want to have that preapproval in hand before you find the house of your dreams, otherwise you'll miss out simply because you weren't proactive.

4.  Keep Learning.

Just because you find a good realtor and lender to work with doesn't mean that they do everything for you.  If you want to make the best decision for you and your family, it'll involve some education in not just home buying but wealth planning.  For many people, your home is your largest asset and should be treated as such.  Work with a realtor who will advise, consult and educate you through the process and not just try and sell you a house.

Lastly, stay patient and vigilant.  You may not have overnight success but you will find the home you love as long as you wait for that opportunty and be prepared enough to grab it.

“Failure is the condiment that gives success its flavor.” 
― Truman Capote


By Jennifer Beeston,  Wed May 15 2013, 18:00
Great Tips!!!
By Lynn Tardibuono,  Thu May 30 2013, 12:06
Haa,haa,haa - great tips for sure. I can't say how many times I've run into Buyers who call wanting to make an offer "right away" but haven't been preapproved for a loan. Real bummer! I know that private money has fast preapproval so it's saved many buyers but if someone can afford conventional lending and wants the lower rates, then definitely they need to get preapproved!

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