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In today's real estate market, I am Yente the Matchmaker from Fiddler on the Roof. It’s not my style to be Center Stage, but more a facilitator, matching clients with their ideal of home – something “wonderful and interesting”, a home that’s a great find, a good catch! Oh yes, and remember that it has to be the envy of all their friends, and a home that the parents and in-laws will all approve as well!
And now consider the income and credit restrictions of the buyer – no dowry, no down payment! Gone are the days when Sellers entertained a line of wooing Buyers, selecting the courtier they liked best. Gone, are the glory days when mortgage lenders smiled as kindly as over-indulgent parents upon yearning Buyers, bestowing on them more credit than they could afford!
So I pour over the MLS, looking at blurry photos, reading glamorous descriptions, trying to sort through fact or fiction – is it a make-over, or just a make-up? Is the house nearly new, or is it really 62? It has extra high ceilings, but only if you’re lying on the floor? And all the promises of rose gardens and eternal residential bliss – true? Of course!
Then, just as I’ve found the perfect one, fear strikes – call it buyer’s remorse, cold feet at the altar. What if my loan is not approved? What if the Seller doesn’t accept our offer? And if there’s some hidden defect and the house falls down about our ears, what then? Is this really going to be our “forever” home?
Yes, the current state of affairs calls upon us Realtors® to play the role of Matchmaker, matching desperate or defiant Sellers with wary, bargain-hunting Buyers, and negotiating a precarious "rooftop" balance to make the match perfect. As Realtors®, we rely upon lenders to play the daunting role of Wedding Planner preparing the Buyer for the Big Event, often taking a year or more to repair credit history, and help educate the Buyer about the process.
I recently worked with a young couple, first time home buyers. I told them, “When you find the right home, you’ll know it, don’t worry.” We spent three weekends looking at homes. The first one, we found nothing they liked. The second one, they liked all four homes we saw, and were ready to “choose” one of the four. I encouraged them not to “settle, as they had not really “fallen in love” with any of them.” Third weekend, the magic happened. The second home we walked into needed LOTS of TLC. I was walking through making a mental list of all that would need to be fixed, and I ALMOST missed it. The wordless looks passing between husband and wife, the smiles growing from hesitant to wide grins, the excitement building as we walked through each of the rooms a second time – it was unmistakably love, the perfect match!
Ah, Yente, you’ve done it again!
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