Connect with us

Real Estate News

Terrible things buyers do to upset their realtors

Published

on

Real estate agents are an integral part of real estate. They help buyers identify their dream property and guide them through the buying process to make it easy for them. A good broker is well informed about current market trends, knows the value of a property and its surroundings and has mastered all legal procedures and documentation formalities relating to real estate investments. They do everything in their power to ensure the buyer has a hassle-free buying experience.

But most buyers are unaware that they are doing terrible things that can upset the agent who works with them. Realtors understand that buying a property is the biggest investment most of us make in our lives. As a result, real estate agents are under a lot of pressure to get everything right. But when home buyers act in ways that put too much pressure on our agents, the journey to buy a home becomes a mess.

To make sure you don’t stress your broker, here is a list of things to avoid when working with a broker:

Confused buyers

Don’t hire a broker unless you know exactly what you need and want in your new home. If you decide to buy a property, make a checklist of your needs and desires. Then prioritize each of them so you can narrow down your search. Remember, there will be a huge difference between a place you need and the kind you want.

Write down all the details like the number of rooms, proximity to locations, amenities, or whatever is high on your checklist. Knowing exactly what you and your family need can make buying a home an enjoyable journey. If there is no room for confusion, you will not waste time or frustrate your agent.

Disappearing buyers

Real estate agents invest their time, energy, and money in connecting buyers to their ideal properties. As a result, a buyer who has worked with a particular broker for weeks and months suddenly disappears, frustrating and discouraging a broker. You must complete the purchase with the same agent that you started the journey with. Unless you have had an uncomfortable experience or there has been no communication between you and the agent, it is decent to work with the same agent. If you can’t, at least politely show that you no longer need their services.

Buyers can avoid this situation in the first place by interviewing a few realtors and taking the time to get to know them individually before looking for a home. At the interview, ask all the necessary questions and see if you feel connected to them. This allows buyers to work with the same agent until the end.

Unrealistic buyers

We talked about making a checklist of the things you need and want. However, some buyers end up creating an extremely extensive checklist down to the smallest detail. You can ask about comfort, safety, and convenience, but with small things like interiors, furniture, landscapes, etc., it doesn’t make sense to do anything special. It’s impossible to find a place to check everything on your list.

Be sensible so your agent can find a spot that suits your budget. Overlook the imperfections that minor repairs and renovations can fix. A perfect property with luxurious furnishings costs a lot of money. If, on the other hand, your agent shows you a place that has room for improvement, you can renovate and decorate it to your liking.

Know-it-all buyers

Thanks to the internet, you can research everything from the comfort of your own home. But it doesn’t give the buyer the upper hand over someone who makes a living helping people buy and sell real estate. Realtors have the experience and knowledge of real estate, houses and the whole process. When you decide to contract with a broker, you have to trust their expertise.

Sometimes your emotions can get in the way when choosing a property, so it makes sense to seek advice from an experienced real estate agent. They know the market and the value of a property, so they can give you an unbiased opinion.

Not pre-approved buyers

Buying a property costs a lot of money. So if an agent asks you to provide proof of your funding opportunities, don’t be offended. Buyers are wasting their and the agent’s time searching for homes unless they have pre-approved a loan or mortgage. Most buyers make the mistake of waiting to find an ideal property to get pre-approved.

Real estate sellers, on the other hand, are not interested in negotiating with buyers who do not have pre-approval for a loan. This is because sometimes the buyer is unable to secure the desired loan amount after submitting a bid. This brings the agent into a solution and it won’t be able to show you any properties if you don’t have pre-approval. Brokers want to increase the chances that the buyer’s offer will be accepted, so they insist on pre-approval.

Stubborn buyers

Some buyers think they could have it all; a great place for a lot. But in reality it never happens! Agents will do their best to provide the best deals to their buyers. But when you have your eye on a remarkable property that has it all, there is no room for negotiation. It is unfair to ask your agent to continue negotiating in order to lower the query rate. Buyers who have the financial support often pass out at large houses due to the lack of a discount just to invest in substandard property; later they blame the agent.

Desperate and restless buyers

When it comes to finding an apartment, we need to be patient and take slow and steady steps. Often times, buyers rushing their brokers cause stress and find themselves owning unsuitable property. There are many factors to consider when looking for an apartment and it takes time. Real estate agents often want buyers to give them the space and time to find the best deals for them.

Affectionate buyers

If buyers use brokerage services, it does not mean they are theirs. They will spend their working hours finding property for you, arranging open houses, and taking care of all other aspects of a property purchase. However, that doesn’t mean buyers have the right to contact them outside of office hours or to keep track of them. A real estate agent works with multiple clients so they may not be available to you all the time. When you want to meet her, set an appointment that works for both parties rather than appearing unannounced.

Buyers who change jobs or make large purchases before completing the purchase

Money is an essential part of buying a property. Buyers planning to purchase a property through mortgage or loan should refer to the guidelines. Buyers who make drastic career changes while their loan is still in progress increase the risk of the loan being rejected. This causes the agent’s months of hard work to go down the drain. In the end, they lose their time and money for nothing!

Similarly, some buyers make large purchases before closing the home deal. This action also jeopardizes the buyers’ chances of securing the loan money. Real estate agents have often seen buyers make large purchases, change jobs, open new lines of credit, and take on more liabilities once pre-approved. All of these actions will lower your credit score and affect your credit report. A financier will only offer loans to those who have a stable source of income, consistent credit report, and sufficient savings on their account. If buyers want their agents to help them get through the buying process successfully, they need to avoid temptation and follow their agents’ financial advice.

Conclusion

There are potential obstacles and pitfalls that buyers face when purchasing a property. You need to trust and follow your broker’s advice to avoid or overcome mishaps. Nobody has the best know-how when looking for an ideal property like a realtor. Real estate agents are professionals and licensed to help buyers make a successful real estate investment. If you are thinking of investing in a property, reach out to the best real estate agent in town to help.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Real Estate News

Real estate in one Downriver city stands out for netting top dollar, selling the fastest – The News Herald

Published

on

When an engaged couple with law enforcement jobs is looking for a home, you can bet that crime is one of their top considerations.

Allen Park passed the test for Alexus Martinez and James Guardola. They bought a two-bedroom bungalow near Allen Park High School.

“It’s a safe city,” said Martinez, who works for the Department of Homeland Security at Detroit Metropolitan Airport.

“It’s perfect,” said Guardola, an Allen Park native and Detroit police officer.

It’s popular too.

Among the downstream communities, Allen Park is one of the hottest homebuyer destinations. For the first 10 months of this year, Allen Park residential properties ranked top in percent median price increases, the fewest days in the market that resulted in a sale, and the percentage of asking price received.

Local and national real estate markets have overheated since the COVID-19 pandemic disrupted lifestyles and economies. Health concerns, lockdowns, inventory shortages, and a trend towards home work have resulted in higher home prices and fierce bidding among potential buyers.

Sales above the asking price were common.

Now with just a few days left in this calendar year, real estate experts say conditions are calming – some.

Rosanne Couvreur

“It’s still a wild ride,” said Rosanne Couvreur, Real Living Kee Realty realtor in Rockwood with a quarter of a century of experience.

“It’s still a sellers’ market. For buyers, it’s still a matter of competing against multiple offers on most properties. “

Sellers continue to catch up with top dollars, Couvreur said, adding that “patience is key” for home buyers.

“The fall market has a little more seasonality this year compared to last year, but active buyers continue to give the market a boost,” said Jeanette Schneider, president of Re / Max in southeast Michigan.

Karen Kage, Managing Director of Realcomp II added: “October was particularly interesting when put in historical context. Aside from the atypical year 2020, sales were well above those previously recorded in 2017-19. It’s still a very robust marketplace. “

For Martinez, buying a house in today’s environment was accompanied by a range of emotions, from enthusiasm to fear. She credits Couvreur for bringing the trial to a happy conclusion.

The couple made a handful of unsuccessful offers on other homes before joining the Allen Park home for $ 189,000.

“We looked for a couple of months,” said Martinez. “We looked at everything. We got discouraged. It was stressful. Now it’s exciting. “

James Guardola and Alexus Martinez present their new home in Allen Park. (Courtesy photo of Alexus Martinez)

Tracking 18 downstream communities for the first 10 months of the year, Realcomp reported that closed sales increased 5.8% to 3,709 homes from the same period last year.

According to Realcomp, six downriver communities saw double digit percentage increases in closed sales for the 10 month period this year: Wyandotte (25.7%, 352 sales); Romulus (17.6%, 234 sales); Lincoln Park (16.3%, 471 sales); Southgate (14.2%, 354 sales); Big Ile (11.1%, 150 sales) and Trenton (10.1%, 208 sales).

Allen Park led all municipalities for the percentage of the bid price received (103.4%), Realcomp said. Allen Park, Southgate and Woodhaven reported the fewest days in the market from listing to sale (12).

According to Realcomp, Grosse Ile had the highest average median closing price (USD 363,750), followed by Huron Township (USD 298,450), Brownstown Township (USD 285,250), Woodhaven (USD 232,000), Gibraltar (USD 220,000), Flat Rock (USD 206,500) and Trenton ($ 196,750). .

River Rouge led in the percent increase in median price (41.4%, $ 63,500), followed by Ecorse (33.3%, $ 60,000), Lincoln Park (22.2%, $ 125,000), Riverview (18.5%, $ 189,500), Allen Park (17.8%, $ 179,000), Southgate (16.8%, $ 160,000), and Rockwood (15.8%, $ 183,500).

Continue Reading

Real Estate News

Forget about asking price for CNY real estate. Plus, National Guard deployed to help nursing homes (Good Morning CNY for Dec. 3)

Published

on

Subscribe to the Good Morning, CNY newsletter delivered to your email inbox every weekday morning.

weather

High: 36; Low: 28. Partly sunny, cool. Check out the 5 day forecast.

picture of the Day

“We had a thousand balls here,” says Mark Koester of the past 14 years at his home at 2119 Conley Road near Chittenango. Climb down the steps, jump off the diving board, or slide down the slide into the heated swimming pool.Courtesy of Simply Heidi Photography

HOUSE OF THE WEEK: This Chittenango house, built in 2003, was designed for families. It sits on 6.45 acres and checks in on 6,406 square feet and has plenty of room to play. And if you think the pool is beautiful, just take a look inside.

What’s hot

Are you looking for a house in CNY? Forget the asking price: the real estate market in central New York has been on fire for much of the year, and a great indicator of the heat is how close sellers are getting to their asking prices. For months they have not only grown closer. You got more.

New York State is using the National Guard to support low-staffed nursing homes: Nursing homes, such as hospitals and other health facilities, are grappling with a severe shortage of nurses and other health workers. To cope with this, the New York National Guard is sending 120 of its medical staff to low-demand nursing homes across the state, including Loretto in Syracuse.

  • The nursing home in Syracuse will reopen the Covid unit to ease the hospital shutdown

While New York licensing lags, Indian nations are increasing marijuana sales: It’s been eight months since New York state legalized the possession and use of adult marijuana. Yet the state has still not enacted regulations or issued licenses to sell, which is delaying the opening of retail stores. Several Native American nations in New York have filled the void, citing sovereign nation status.

Future uncertain for planned Microsoft tech hub in Syracuse: In 2019, the software giant Microsoft announced plans to build a “Smart Cities technology hub” in Syracuse and signed a three-year agreement with the city, Onondaga County and Syracuse University . Two years after signing the contract, City Councilor Michael Greene says that Microsoft “did not have the decency to give us a clear answer where they stand” with the project.

looking ahead

Are you ready for a challenge? Don’t you go after waterfalls? We say chase away in upstate New York with a new challenge that brings people to some of the 150 breathtaking cascades that Ithaca has to offer. The Waterfalls Challenge, launched by Visit Ithaca, lists 22 known and hidden gems in the area.

Sports

Runners run on a track during a meeting

The Jack Morse Kickoff Meet will take place on Thursday in the SRC Arena of the Onondaga Community College.Marilu Lopez-Fretts | Contributing photographer

WESTHILL, BALDWINSVILLE TEAMS WIN AT JACK MORSE RELAYS: Athletes from Section III schools participated in the second day of the Jack Morse Relays at the SRC Arena on the Onondaga Community College Campus on Thursday. The Westhill girls ‘and Baldwinsville boys’ teams were victorious. See the results and more than 70 photos from the event. (See results and photos from Wednesday here) (Marilu Lopez-Frett’s photo)

Old Rival Back on the Syracuse Lacrosse Scheme: One of Syracuse men’s lacrosse’s fiercest rivals is back on its way, and a new Orange coach is set to make some serious flashbacks.

How did the SU women beat a top 20 team after 3 losses in the Bahamas? The Syracuse women’s basketball team had a rough time in the Bahamas last week, trailing in all three games in Battle 4 Atlantis. The team took some of their frustration with a win over Colgate on Sunday, but the Orange needed more. The opportunity came with Ohio State No. 18 in town for the Big Ten / ACC Challenge, and SU took the opportunity.

FURTHER SPORT NEWS:

In the letter

A Syracuse man requests a plea for the murder of a 15-year-old boy in Creekwalk. DA drops large numbers

Byrne Dairy & Deli are closing down a shop that has been in operation for nearly 50 years

Watch an exclusive courtroom video in which Anthony Broadwater was acquitted of Alice Sebold’s rape 40 years later

CNY Wishlist: Would you like to help? Here’s a wishlist from local nonprofits

Rome woman killed in head-on collision, 2 more hospitalized, soldiers say

A rainy summer in Syracuse revealed a growing problem: black mold

Man dies after striking a power pole during a medical emergency in Syracuse, police say

Today’s obituaries

To view today’s obituaries, please click here.

Amazon Flash Briefings

To hear the latest news with Alexa every morning, please click here.

Continue Reading

Real Estate News

My holiday wish list for commercial real estate – Daily News

Published

on

With Thanksgiving lately, Hanukkah in full swing, and Christmas in less than 30 days … it’s time for some Christmas cheer!

Countless children around the world – including our five grandchildren – are putting together their lists. So I thought it would be fun to draw my five hopes for the 2022 commercial real estate market – aka my gift list for the coming year.

So without further ado, here it goes.

A more balanced market. Industrial real estate – buildings where people make, store, and ship things – have fallen by the wayside for the past six years. Currently, fewer than 1 in 100 buildings have no residents!

We find an acute imbalance when there is a demand that exceeds supply, the lack of new buildings, changes in consumer shopping habits and an excessive appetite for things. As a result, the prices of listings have skyrocketed and many people are wondering if rents are sustainable.

So I would like a little more common sense.

Vanishing office insecurity. II have said many times that transactions take place when activity increases or decreases. But uncertainty is a killer for a company that relies on movement.

There have been some big Amazon office deals in the market – like the purchase of the former Orange County Register Printing Office in Santa Ana and the Bank of America campus in Brea. For both, however, a change of use is pending. The former suites of executives, middle management and office workers will be eliminated and replaced by countless blue delivery vans.

The pandemic changed the office paradigm. Companies countered with “hybrid” approaches that required smaller floor space, virtual workstations and less collaborative layouts.

I would like some long-term leases for large office buildings here.

Solution to the port problem. Talk about a perfect storm that’s like an anaconda eating a Thanksgiving meal or six: the accumulation of ecommerce containers slowly moving through the supply chain.

Many people are much better informed than me about the causes. All points in the supply chain are simply squashed – which leads to massive delays, bottlenecks and escalating price tags. Certainly some reduction in regulation would help. A little more storage space could help too. Are you asking America to stop shopping for a while?

I would like a stable flow of goods until July 4th.

Interest rates still low. Rising interest rates could be the best thing for us – like tearing off a bandage. But wow! How incredibly painful for an economy that depends on cheap money.

Our 10-year Treasuries rate – the benchmark for commercial real estate lending – has been hovering in the low 1% range for a number of years. Great for borrowers but terrible for savers. As our population ages and more of us have steady incomes, an increase in returns would be welcome. Don’t forget, however, that $ 1.2 trillion in stimulus goodies is to be paid back. Rising interest rates would make amortization more expensive.

All in all, I would like more of it.

A more diverse industry. Commercial real estate brokerage has been dominated by men in the past. However, two fall conferences that we attended showed a change.

I was thrilled to see over 40% women and minorities at the Commercial Real Estate Influencers Summit and the Society of Industrial and Office Realtors Global Event.

It is my wish that the face of commercial real estate reflects our world.

Allen C. Buchanan, SIOR, is a Principal at Lee & Associates Commercial Real Estate Services, Orange. He can be reached at abuchanan@lee-associates.com or 714.564.7104.

Continue Reading
Advertisement

Trending