Risk vs. reward: Payoff depends on what the client wants

Whether you're buying or selling a home, putting yourself in the shoes of those involved with the property-either as homeowner or prospective homeowner-can go a long way toward real estate success. For example, if a buyer isn't pre-approved, they're passing on that risk to the seller.

If a property is in great condition, the long-term risks of the buyer are minimized-and they should expect to pay a higher price because they're taking less risk on a property. The same goes for properties that have been pre-inspected. If the seller fixes repairs in advance, the reward will be higher for both the buyer and the seller.

I always tell buyers to look at a property in the context of its condition and value based on the degree of maintenance and repairs they expect to make over the years. Some properties are more maintenance free than others; it just depends on what the buyer wants in a house. But by being realistic from the outset and setting your expectations, the reward will usually outweigh the risk.CONTACT TIFFANY SHARKEY AND TONYA PEEK FOR ALL YOUR REAL ESTATE QUESTIONS 214-256-4472.