How Buyers Can Annoy Sellers

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Bankrate.com recently highlighted several ways that home buyers have been annoying some sellers recently, including:

  • Disrespectful house visitors: Some buyers may not be respectful when touring a home, letting their child run wild or bounce on the furniture, cranking up the heat and air conditioning, or even using the restroom. Lisa Ramsey, a real estate professional with the The Ramsey Group, says it’s up to the real estate agents to lay down some house rules when the seller isn’t there. “I tell buyers, ‘Let’s just pretend we’re walking into the White House.” She’ll also talk to her buyers “about the trend of sellers putting [microphones and] cameras in the home. … I go into every house assuming there’s a recording device in the house. We’re not going to talk money or strategy in the house.”
  • Submitting a long list of defects: Ron Phipps, principal with Phipps Realty in Warwick, R.I., and a former president of the National Association of REALTORS®, says that buyers are doing themselves a disservice when submitting an offer with a long list of what’s wrong with the house. It makes sellers question why the buyers would want this place. Instead, Phipps recommends a gentler approach: Submit a list of comparables with the offer as well as a personal letter where buyers introduce themselves and explain why they want the house. In the letter, they can mention two or three of the major issues with the house while keeping it neutral and referencing third-party, empirical sources.
  • Too many visits: After buyers have committed to purchase a home, they want to make lots of visits to their future home, bringing the decorators, architects as well and entire family with them, says Mike Lubin, associate broker for Brown Harris Stevens in New York. The sellers may find the constant visits disruptive, however, as they’re busy packing and possibly doing repairs to meet a deadline. Lubin says a possible compromise could be to have the buyer arrange a visit while the inspector is present as well as another visit during the final walkthrough before closing.
  • Renegotiation: Buyers may agree on the price but then repeatedly demand concessions and discounts. The home inspection can be a culprit. For example, buyers may realize the furnace has about five good years left and then make a demand for a new furnace or monetary equivalent. “A realistic buyer knows everything’s not going to be perfect,” says Matt Laricy, managing partner with Americorp Real Estate in Chicago. But signed contracts don’t often stop a buyer from trying to renegotiate, Laricy adds. Buyers may say the market has changed or that they’ve overpaid or they may even suffer from buyer’s remorse, he says. “It’s extremely awkward,” Lubin says. “It’s violating the terms of the contract, and it’s insulting.”

Source: “8 Ways that Homebuyers Annoy Sellers,” Bankrate.com (April 2014)

Sponsoring Lunch at Champions School of Real Estate

Guess who’s the next lunch sponsor at Champions School of Real Estate?

Well, tomorrow’s the big day!  I’m sponsoring lunch for the students of the Principles of Real Estate II class on Monday.  This is the first time I’ve tried something like this, and I still don’t know what I’m going to do with the 20 minutes of time I have alloted!

Why am I doing this?

a.  I have so much money that I like to buy free lunches for rookie agents

b.  I am practicing my speech-giving skills

c.  I’m starting a revolution and I need a few volunteers

(Hint:  The answer is C)

Slow down there tiger, I don’t mean that type of revolution.  I mean a REAL ESTATE REVOLUTION!

At Mars Hill Realty Group, I’m offering real estate agents a revolution from the traditional real estate norms that plague our industry.

 

A revolution from the public distrust of real estate agents.

A revolution from the myriad of confusing marketing options available.

A revolution from ineffective negotiation expertise.

A revolution from poor pricing and predictive analysis skills.

 

Want to learn more?  Visit our brokerage website at www.MarsHillRealty.com or read our latest blog article on what makes us different from other traditional Austin real estate companies.

– Your Favorite HOMEboy,

Edward

 

 

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