Buying a house is a process that can be fun and scary at the same time. Your Real Estate agent is there to help you throughout the process of finding your new home. Let the agent guide you. Realize they are there to represent your best interest. To be able to achieve this, there are a few things you, as the buyer, can keep in mind. (Here are a few things you may want to stop doing to help the process).
1. Caring too much about aesthetics
Your real estate agent will help you discover homes that can meet your need/want list. They will be happy to show you as many houses as you want—but remember beauty is only skin-deep. Many buyers get caught up in how a house looks right now. Keep in mind many things are easily fixable such as it being dirty, outdated, or in need of small repairs. Many times these things won’t cost much to fix.
2. Tipping your hand
Voicing your criticism about a particular home at the wrong time, could spell disaster. There have been instances when the seller is home during a showing and overheard the comments, the client has been videotaped for the seller to view later, or the listing agent hears the comments during an open house. Mentioning that the shag carpet is ugly is best told when you and the agent are away from that house.
3. Waiting too long
You have found your perfect home but start dragging your feet to make an offer. Waiting in a competitive real estate market can hurt you with the seller and drive your agent crazy. If too much time passes from viewing the home to submitting the offer, the seller may not take you as serious as another buyer that quickly expressed interest and made an offer.
4. Thinking it’s all about the money
What you’re willing to offer for a house is a huge part of your offer. However, the seller is not necessarily looking for the highest offer, but the best structured offer. It’s up to your agent to know that a good offer is a mix of timing, the right price, and reasonable contingencies. You decide on a price that you think is fair but then refuse to cave on 10 contingencies, you will probably frustrate the seller, and possibly even your agent.
5. Ignoring what the seller wants
You can’t think of buying a home the same as buying a dress, TV or even a car. With a house, you are buying from a person that has to choose you as the buyer. Some sellers are motivated by money, while others want to see their home go to someone who will love it as much as they did. Your real estate agent is representing your best interest and will work to gather information that will help you build the best offer. Not letting your agent guide you, may hurt your chances of getting the home you want.
6. Talking to the other team
The listing agent and the seller are not the enemy. But talking to them without your agent is never a good idea. You may innocently divulge information that could hurt you in the negotiations. Keep in mind, the listing agent’s job is to get the most money for the seller.
7. Lowballing the counteroffer
You submitted an offer. The seller didn’t accept it, but they’re willing to consider a counter. If your next offer isn’t reasonable, you could risk frustrating the seller and lose the house for good. Your agent understands you don’t want to overspend or give in on many of aspects of the deal.
Let them guide you through the counteroffer. Remember you hired your agent for a reason so trust they are working for your best interest.