There is no doubt about it. Buying or selling a home is a scary and exciting process through and through. Take into account, on average you’ll only buy or sell 4-5 homes in your lifetime it stands to reason you’ll be looking for advice from your most trusted sources, friends and family. Let’s add Realtor® to that resource because in this post we are going to cover the dangers of the armchair advice you’ll be getting from the closest advisers in your life that could potentially work against you in your home buying or selling experience.
I’ll start by saying, your family and friends want the best for you and any advice they offer will be given only with the best intentions in mind, but unknowingly, they could be sabotaging a smooth transaction for you. One of the biggest things to remember through this process is every transaction is totally different and unique. No matter how many homes I sell there are always nuances, sometimes large, and sometimes small that play into the process.
Living in such a transient and high demand area, one of the biggest things I come across is buyers or sellers wanting to compare the market here to what they are use to from an area with a much lower demand for housing. They will get advice from family and friends saying “You should never have to pay full list price” or “The seller should pay all your closing costs” etc. While this advice will be coming from someone you really respect and even love, it would be doing you a disservice if you took it to heart before speaking with a local Realtor® who is familiar with the market and what is currently trending. There may be cases where it’s appropriate to ask for some closing cost from the seller or on the flip side you may have to pay over list price to get the home, it just all depends on the situation.
Armchair advice is not just isolated to friends and family who don’t live in the area, you could get it from someone who lives right in town or a neighbor even. For example, let’s say you price your with your Realtor® and put it on the market Thursday morning. You immediately have showings scheduled and by Friday evening you have an offer in your hands. You’re very excited but a little concerned because you’ve gotten an offer so quickly. You’re now wondering if you priced it too low and can get more money. You call your old neighbor who recently sold their house in the neighborhood and they tell you “Something similar happened to us but we didn’t want to accept the first offer because we wanted more money so we waited and got it!”
That’s all well and good for your neighbor but you don’t know the full story of their transaction. Perhaps they were priced under market value to get multiple offers or they may just have gotten lucky. Like I said earlier, every transaction is totally different and unique. Think of this. Each transaction has two realtors, potentailly two buyers and two sellers. That’s six different people and personalities all working towards a common goal. There’s just no way you can compre one transaction to another when you think of it that way.
The moral of both stories here is to do your due dillegence and make sure you’re fully edcuated on the state of the market and have your goals clearly outlined. Advice and support from friends and family can be very helpful and even needed during this time but always make sure you discuss your thoughts and concerns with your Realtor®.
As your Realtor® it’s all about customer service above all else. I’m going to make sure to answer all your questions and alleviate any concerns you may have while never pushing or pressuring you to make a decision that is not in your best interest. I know how big of a deal buying or selling a home is for folks. You’re only going to do it a handful of times in your life and I feel so fortunate when my clients choose to work with me through such an important part of their life.