“The Right House at the Wrong Time . . . is the Wrong House”

Letting Buyers Off the Hook

Sometimes, the smartest thing a good Buyer’s agent can do is let their client off the hook — and give them permission to pass on something.

That can be because the client just started their home search, and doesn’t know the market yet; a home they really like is in multiple offers, and it feels too pressured; or — at least this time of year — even because they’re waiting on their CPA to tell them what their 2016 tax liability/refund is going to be, and they’re not sure how much cash they’ll have for a down payment.

Short vs. Long Game

While making such a big financial decision is inherently stressful, veteran agents know that if it’s too stressful, Buyers have a way of backing out of deals later on, when it can be messy if not expensive.

Too, established agents don’t need the commission from any one deal to stay afloat: a transaction later this Summer (or next Fall) is just as good as one now.

In the long run, agents who don’t pressure their clients win their loyalty and — just as importantly — their referrals.

See also, “The Right House at the Wrong Time = the Wrong House“; and “The Pottery Barn Rule — Realtor Version.”



from RSSMix.com Mix ID 8230700 http://ift.tt/2nkLAvJ
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Estimating the Discount for a Busy Street (or Not)

Image
The Art of Comp Selection One of the trickier home features to account for in a Comparative Market Analysis (“CMA”) is a busy street. For a family with little kids, a busy street may very well be a deal breaker — in which case the discount is theoretically infinite. At the other extreme, an investor looking for a rental property may see the location as a plus: free advertising! Of course, not all busy streets are created equal: depending on how far the home is set back; elevation differences; the individual home’s layout; and even landscaping and other topography, and the noise level/loss of privacy can vary significantly. Two Strategies Faced with so many variables, Realtors and Appraisers can always simply choose an average discount — say , 10% off. Strategy #2? Choose as Comp’s (Comparable Sold Properties) only homes that are also located on busy streets. Even better: the same busy street. Then, there’s no need to make any adjustment, because all the home...
Read more

“What’s the Highest Point in Hennepin County?”

Image
There sure seems to be some confusion on that, umm . . . point. I’ve now encountered at least three different properties — none close to one another — that all claimed that status in just the last month. For the record, according to Hennepin County’s website, it’s on Williston Road near High Point Road in Minnetonka — 1,131 feet above sea level. See also , “ Florida’s Tallest Point (and how to get there) .” from RSSMix.com Mix ID 8230700 https://ift.tt/2Pq1ndL via IFTTT
Read more

“Are You a Realtor?” “Why, Yes I Am!”

Image
“There Goes My Realtor!” Admittedly, the intended effect is for clients who see me in and around the neighborhood where I live (by Cedar Lake in Minneapolis) to see my car on the road and say, “There Goes My Realtor!” But, my custom license plate (above) is also a conversation-starter when I’m parked. Like today, in Linden Hills, where a builder who has an upcoming listing saw my car and asked if I was a Realtor. I know what to do from there . . .  from RSSMix.com Mix ID 8230700 http://ift.tt/2glixp5 via IFTTT
Read more