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Real Estate Reality - It's All About Compromise

By Michael Jacobs

Industry Observer CalDRE #01165532

April 24, 2013 10:29 PM

Real Estate Reality - It’s All About Compromise

Thinking of a new home?

Let’s discuss your must-haves, your need-to-haves and your wishes

Let’s talk about the terms and of course, the price range

Let’s plan...and strategize

and realize

regardless if your budget is $100,000 or $1,000,000 and more....

you will always need to compromise

It might be location...or size....or condition...or price

but there will be compromise

Real Estate Reality

Whether it be Pasadena real estate or the San Gabriel Valley or in Northeast Los Angeles contact me at 818.516.4393 cell or michaeljacobs@coldwellbanker.com

Real Estate Reality - It's All About Compromise

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Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

Michael - You are right. You always need to compromise in some way. That's because someone is buying and someone selling...if it was one way, that would be a different story.

Apr 24, 2013 08:32 PM

Roger D. Mucci

Shaken...with a Twist 216.633.2092 - Euclid, OH

Lets shake things up at your home today!

So true Michael, there is no "perfect" home, there will always be compromise. Buyers need to be realistic also, wants and must have's are two totally different things.

Apr 24, 2013 09:34 PM

Dorie Dillard Austin TX

Coldwell Banker Realty ~ 512.750.6899 - Austin, TX

NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Michael,

Excellent message..life is always a compromise..why shouldn't buying a home?? LOL!!

Apr 24, 2013 09:39 PM

Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

Michael,

You're posts are always so clear, crisp and concise.

You make an excellent point, Real Estate is all about compromise.

Al the best to you!

Apr 24, 2013 09:53 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Barbara - how often have we heard buyers say, especially in a rapidly accelerating market, we shoulda bought then??? Your comment is spot on.

John - regardless of market conditions - compromise is the one constant. I hope you have a wonderful Thursday as well.

Debbie - but it never is just one way, is it?

Roger - if only if it was a perfect world - if only....

Dorie - I know, I know.

Patricia - thanks so much.

Apr 24, 2013 10:01 PM

Amanda S. Davidson

Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA

Alexandria Virginia Homes For Sale

Michael, you always do a great job writing a clear post and this one is no different. You're spot on, real estate reality is always going to involve compromise one way or another. Even when building from the ground up there's compromise. Suggested!

Apr 24, 2013 10:12 PM

Morgan Evans

Douglas Elliman Real Estate - Manhattan, NY

LICENSED REAL ESTATE SALESPERSON

I agree that compromise no matter the budget almost always exists, understanding the limitations of a certain segment of the market and than having the proper expectation is an important part of being able to decide on which property is right for any buyer.

Apr 24, 2013 10:28 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Amanda - ah, you're right about building from the ground up -- so many decisions and such cost differences in those decisions -- a great comment. Thanks.

Morgan - trying to match the expectation to the reality is key and sooooo important.

Apr 24, 2013 10:32 PM

Joanna Cohlan

Fresh Eyes For Your Home - Chappaqua, NY

Designing, Decorating & Staging Westchester Homes

Again, straight to the point and as with EVERYTHING-we need to compromise-and our needs change we will continue to satisfy some of them and others become less of a priority.

Apr 24, 2013 10:33 PM

Scott Fogleman

New Home Team - Richmond, VA

Michael- So correct, but most people can get their must haves...

Apr 24, 2013 10:38 PM

Beth Atalay

Cam Realty and Property Management - Clermont, FL

Cam Realty of Clermont FL

Good Morning Michael, there's no such thing as "the perfect house" if the house is perfect, location might not be. If buyers are looking for the complete package(whatever that might be) they may be looking for a long time to come. Great advice, one I have to repeat to each buyer, especially first time home buyers.

Apr 24, 2013 10:49 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Joanna - something always has to give - even if it's just a little....

Scott - as long as they don't have too long of a list.

Beth - first time homebuyers typically have an extensive list -- but I've also seen it in move-up buyers who ask "why move, if we can't get more(or better or fill-in-the-blank)? It's also true when buyers are relocating from a different area and are unfamiliar with the market.

Apr 24, 2013 10:53 PM

Mark Delgado

houses for rent, Solano County & Glen Cove - Benicia, CA

Benicia and Vallejo, Property Management, rental h

Another variable is the budget/inclination to make modifications to the home to help it get closer to perfect.

Apr 24, 2013 11:00 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Mark - very true - a good consideration to keep in mind.

Apr 24, 2013 11:07 PM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Michael- well done! A buyer would be looking forever if they set their goal as the perfect home! Compromises will need to be made!

Apr 25, 2013 04:07 AM

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Michael, It is about compromise and what I have always said to my buyers, there are no perfect houses, we just need to get as close as we can.

Apr 25, 2013 05:19 AM

Dick Greenberg

New Paradigm Partners LLC - Fort Collins, CO

Northern Colorado Residential Real Estate

Hi Michael - That's such an important concept, and there's always a learning curve for it with 1st time home buyers. After so long in our market, Mary and I know exactly where those compromises are going to fall as soon as we see the wish list and the budget. But there's no substitute for being gentle about it and letting the clients get comfortable with the idea. (Didn't the Stones write a song about this?)

Apr 25, 2013 06:24 AM

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com

Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA

Tahoe Real Estate Agent Helping Buyers and Sellers

Michael - If I didn't know better I'd say you've been riding around in the back seat of my car with my buyers! It's hard to imagine that regardless of your price point, even in the million+ range you're going to have to comprise on something. If you don't compromise, as a buyer you'll watch this real estate market pass you by again!

Apr 25, 2013 06:37 AM

Michelle Gibson

Hansen Real Estate Group Inc. - Wellington, FL

REALTOR

Michael - I've seen thousands of homes over the course of my career and I have yet to find the "perfect" home and this includes new constructions, there will always be compromise.

Apr 25, 2013 07:12 AM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Kathy - the search for the perfect-anything will be a long, very long journey.

Debbie - if a buyer can get to 80% of their concept of a perfect home -- they're much further along towards reaching real estate nirvana than most people.

Dick - you're so right, there is a certain approach that works better than a shrill laugh or a guffaw when a buyer recites his/her/their list --- and it's definitely a learning curve and it's our job and duty to explain the realities of the situation to them.

Laura - I'd say most Realtors have this conversation with buyers - compromise is certainly key to a buyer who really wants or needs to buy.

Michelle - very true.

Apr 25, 2013 01:43 PM