I have been in real estate long enough to realize and experience plenty of buyers losing out on the house of their dreams. This is all largely due to their inexperience, incorrect ideas or actions and not trusting in their agent's advice.
What is ironic, is that every deal, (WON OR LOST), usually only comes down to a few thousand dollars. So please learn from these poor buyers who lost out on a deal for the following TOP 5 reasons:
1)Â They are a CHEAPSKATE. I understand there are some people that like to save and there are people that like to spend. And the rest of us usually fall somewhere in the middle of that scale. Even the most frugal of people cannot afford to low ball sellers in this market. They need to realize sellers have too many other offers to choose from, put a little more trust in their agent, and go buy a house - not be in the business of making offers!
2)Â ALWAYS, ALWAYS, ALWAYS make your best offer FIRSTÂ - you may not have a second chance. Yep, the seller does not HAVE TO COUNTER - they could choose the best offer right off and close the deal. I had a client yesterday who I advised to make an offer $5000 dollars higher than they did (based on comparable sales of course); the house ended up going for $3000 higher than they offered and $2000 lower than I suggested. Okay, so we were both off a titch, but the OTHER GUY got the nice house. All we ended up with was undue stress knowing we were gambling when we made the offer and then we got that email with the bad news leaving the bad taste in our mouth.
Do not let this happen to you - TRUST your Agent's advice and avoid the heartache! Don't let a few thousand dollars be the difference.
3)Â Do not be TOO FRUGAL when it comes to making the biggest purchase of your life!Â It is the home you are going to live in idiot - we are not visiting the swap meet or dollar store! And no, there is NO COUPON or DISCOUNT for a home purchase last time I checked.
4)Â Trust your agent's advice. If you do not believe in your agent's advice or feel like they are making sound advice or estimates of value (for your offers) - then why the hell are you STILL working with him or her? But IF YOU DO, then make the offer your agent suggests because you do not want to be another "Well I almost had that house" STATISTIC. Do not be the guy that lost the house for a few thousand dollars. You do realize you just lost the house of your dreams for $10-$15 more on your payment because you are TOO CHEAP, right? It just does not make sense to be THAT GUY.
5)Â Do not get into the routine of "WRITING OFFERS"Â - believe it or not, your agent ACTUALLY Â is there to get your OFFER ACCEPTED. Please do not waste my time and I promise I will not waste yours. What am I going to have to do to earn more of your TRUST from you as your agent? Remember, one of us is a real estate PROFESSIONAL and one of us is not. That is not taking anything away from you - as I am sure you are probably good at what you do for money. So buyer, please do not wear my hat - it does not fit your BIG head full of INCORRECT ideas.
DEAR BUYER: let us write an offer today that the seller will accept.
Happy Friday everyone!
Go get your client's offer accepted TODAY, will you?