The Joys of Real Estate
Can real estate be fun?
Buying and selling real estate is often stressful. It does not have to be that way. Buyers and sellers want the same thing- a good deal. Oh, maybe that is the problem.
Unrealistic expectations of what a property is worth and petty holdouts can scuttle many deals. Whether a seller or buyer be, do your research and get professional advice.
Sellers need to understand and accept what their house is worth today. It may have no relation to what it could have sold for in 2005, how much they owe, how much they paid for it or how much work they put into it over the last 10 years.
A home is worth only what someone is willing to pay for it. All the analysis means nothing if nobody is will to buy it. Part of the difficulty in setting a price is due to the lack of similar "sold" homes to use as comparables. Short sales, bank owned and fixer uppers are rampant in many neighborhoods and can negatively affect price comparisons.
The mantra is "price, price, price". Location is helpful, but no matter how close to a beach, if the price is too high, it will not sell. If you are selling and no offers are being made, lower the price. When you get it right, it will sell.
Buyers, too, need to be educated. There is no such thing as an "insulting" offer, but there are offers that are going to be ignored. A buyer, just as a seller, needs to have realistic expectations. Sure you can low ball, but in many cases you are just wasting time. Time that you may be able to better spend on finding a property that truly fits your needs and wallet.
Buyers should develop criteria, including price, location and features that are realistic. Once you know what your parameters are, start searching. A good Realtor can help you put a plan together and set it in motion, saving you time and grief along the way.
To answer the first question- Yes, real estate can be fun. Get educated, set a plan, work the plan and the experience can be fulfilling and enjoyable with only a side of anxiety.
Re/Max Connection - Sewell, NJ
e-Pro, Realtor
Very true! Trying to keep deals together can be far more than fun but keeping a positive attitude is the bset way to get through it!
Apr 01, 2010 02:33 AM
Re/Max Connection - Sewell, NJ
e-Pro, Realtor
Very true! Trying to keep deals together can be far more than fun but keeping a positive attitude is the bset way to get through it!
Apr 01, 2010 02:33 AM
Davidson Realty Inc. - Saint Augustine, FL
I will help You find the Home YOU want to Buy
Joe, I agree it can be fun. There is no business where the sales person makes every sale. You just move to the next one.
Apr 01, 2010 03:01 AM
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy
Joe,
Joy is self generating, you cannot let circumstances dictate your mood.
Apr 01, 2010 04:57 AM
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy
Joe,
Joy is self generating, you cannot let circumstances dictate your mood.
Apr 01, 2010 04:58 AM
Coldwell Banker Schmidt Realtors - Traverse City, MI
We continue to be the top-selling team in our state for CB, even through the tough MI economy. Some of the most stressful deals for other agents don't have to be that way. We try not to take these deals personally and we do not allow it dictate our lives or mood. Its tough at times, but being a team sure does help. When one of us is down, another is usually in a great mood. It's nice to feed off each other.
Steven Terry- Mark Hagan and Associates
Apr 01, 2010 07:41 AM
Coldwell Banker Schmidt Realtors - Traverse City, MI
We continue to be the top-selling team in our state for CB, even through the tough MI economy. Some of the most stressful deals for other agents don't have to be that way. We try not to take these deals personally and we do not allow it dictate our lives or mood. Its tough at times, but being a team sure does help. When one of us is down, another is usually in a great mood. It's nice to feed off each other.
Steven Terry- Mark Hagan and Associates
Apr 01, 2010 07:41 AM
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
I really enjoy real estate. I know that there's stress in it, but I there's so much fun t be had in real estate helping people too with a smile and a bit of fun.
Apr 01, 2010 09:41 AM
Amy McAllister Realty LLC - Hood River, OR
REALTOR Hood River, Oregon
I am finding the exact same things your saying here in our market. I guess it's pretty similar all across the country. I like your straightforward factual post.
Apr 01, 2010 10:13 AM
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California
So true. Price is always the #1 thing. You can lower a price to get it sold when it is in a bad location or condition, but you cannot over market to get it sold when the price is too high.
Apr 01, 2010 12:09 PM
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes
I agree with price being the #1 reason a house sells or doesn't sell, then location, then condition.
Patricia
Apr 01, 2010 01:11 PM
Virtual Homes, Real Estate - Waltham, MA
Great post Joe! I'm mainly a buyer's agent and I find a lot of first time buyers thinking that the market is worse than it is and they are genuinly suprised when I show them what they can really get for their money. Many first time buyers who are just starting the process think they can get a foreclosure at a huge discount and it is going to be move in ready. Most of my first meetings are an education process, but once the buyers are educated, it is easy to correct their expectations.
Apr 01, 2010 01:24 PM
3:16 team REALTY - Frisco, TX
Good post. It is fun when your hard work pays off not just with a commission but when your client appreciate your work.
Apr 01, 2010 02:28 PM
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!
Buying a home should be as much funa as possible. It is a start of a new chapter in people's lives. I try to make it as stress free as possible for my buyers and sellers by recommending the best partners to help with the transaction. Communicating throught out the process and setting expectations at the very beginning and making sure everyone knows the process from the very 1st meeting. Empowering both buyers and sellers so they are prepared for the reality and taking everything in stride and being the cheerleader when things get tough.
Apr 01, 2010 03:15 PM
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale
Compass - San Francisco, CA
Realtor - Homes for Sale in San Francisco
If it's not fun I know one thing for certain: I'm taking it too seriously. It's really like a game and games can and should be fun. It's important for the buyer and the seller but I'm just the conduit and I can have a great time if I keep my perspectives in line.
Apr 01, 2010 04:40 PM
Conifer Builders LLC - Canyon Lake, TX
Joe:
I like this post. I will say that price is the most important thing, but also keeping everybody's wits about them.
Apr 01, 2010 04:47 PM
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner
Real estate is fun for me, or I wouldn't be in it. I find it easier to educate buyers to the current market value of a property that it is to educate sellers. I guess that's why I'm primarily a buyers agent.
The buyer, who is already my client is relying on me to provide them with statistics and comparable information that will show them the value of the house.
Most sellers seem to be looking to several agents to find the one who will promise to get the price for their house that the seller feels it's worth.
Apr 02, 2010 12:42 AM
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate
Joe you are right that it always comes down to the right price in Real Estate or anything else for that matter.
Apr 14, 2010 12:35 PM
Park and Protect- Alberta Real Estate License Parking - Calgary, AB
Alberta Real Estate License Parking
You are correct, real estate can be fun and stress free as long as the client and the real estate professional are neither the wrong type of people. I try to keep my lethbridge real estate blog full of positive and inspirational content instead of the doom and gloom that some post about, I find it attracts a more positive client that way.
Jul 24, 2010 12:21 PM
Comments(31)