Real Estate New Year’s Resolutions
Well, 2009 is winding to a close and it is natural to think of New Year’s resolutions and what the New Year might bring. Most people often resolve to lose weight, exercise more, quit smoking, quit drinking, eat right, and spend more time with their family. I am sure there are two or three people that have actually succeeded with these. I think they live somewhere in Indiana. I was trying to come up with some New Year’s resolutions that would apply to real estate and that would be extremely helpful if you are selling or buying a home. There were undoubtedly many, many times in 2009 when buyers and sellers just couldn’t quite see eye to eye in order to make a deal on a property and now in retrospect wish they had. Ah, the wondrous power of 20/20 hindsight!
As real estate agents, we know that deals fall apart all the time over things that seem miniscule when viewed in terms of the overall goals of both the buyer and seller. It drives REALTORS® nuts as we know more often than not that just a few months down the road sellers will be asking “What about that guy that made the offer before, is he still looking around?” Many times we are able to convince the buyer or seller that they should just swallow their pride and accept the deal on the table and move on with their lives. But just as many times the parties get frustrated, dig their heels in, refusing (in their mind) to be taken advantage of, and kill a deal that is within a sliver of being done. So with that thought, here are a few resolutions for those that had “near-deals” in 2009:
Resolutions for the Frustrated Seller to be used the next time he receives an offer: 1. I will recognize that not all buyers are only interested in stealing my home. Many of these creatures are actually human. 2. In the spirit of true negotiations, I will try to work with even a low ball offer and make a reasonable counter offer (no, not $500 off the asking price!) 3. I will consider the fact that maybe, just possibly, my house is not worth what my neighbor’s house is nor regrettably what it was worth what I paid for it two years ago. I will try to understand that the buyer is not trying to screw me. 4. I will not be upset about the fact that the buyer’s home inspection has revealed some defects that need to be corrected or that the buyer expects some quid pro quo for it. 5. I resolve not to take anything said or done by the buyer personally. 6. I resolve to smile more and enjoy the process, it can be fun.
Resolutions for the Homeless Home Buyer 1. I will try to comprehend that there is no such thing as the absolute perfect house and that most homes will need some work and maintenance. Don’t expect the seller to pay for your upkeep for the next 10 years. 2. I will understand that contrary to what I may have read or have been told, not every home on the market in the Lakes Region of NH is a fire sale. 3. I will understand that there is a good possibility that a low ball offer could work against me in buying the home I really want. 4. I will understand that sometimes the seller has both an emotional investment in and an attachment to his home that sometimes causes irrational behavior. 5. I resolve not to take anything said or done by the seller personally. 6. I resolve to smile more and enjoy the process, it can be fun.
So what about real estate predictions for 2010? There has been so much doom and gloom for the past three to four years and the market has been so awful that I refuse to believe anything other than we are going to have a great year. Markets are cyclical and my bet is we have turned the corner. Positive signs abound. The biggest change may be the more positive attitude of the buying public. I don’t expect it to be a banner year, but certainly stronger than the last two barring any further man-made economic disasters on the national level.
And as far as my New Year’s resolutions are concerned, I’m just going with #6 above. Happy New Year!