Patience May or May Not Be On Your Side When Buying

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

Motivational Post 6/27/19

by Patricia Feager

 

 

EACH LIFE IS MADE UP OF MISTAKES & LEARNING,

WAITING & GROWING, PRACTICING PATIENCE

AND BEING PERSISTENT

--- BILLY GRAHAM

 

 

 

ADOPT THE PACE OF NATURE:

HER SECRET IS PATIENCE  ---RALPH WALDO EMERSON

 

 

 

Think About What Patience Can Do For You Or Against You

 

If you want my two cents about what I think about patience when it comes to Real Estate during a Seller's Market when inventory is low, here are my personal opinions:

 

Waiting for new Active Listings when inventory is low may require patience but waiting because you want to sleep on it before making a decision to make an offer may be too late. 

 

The problem with taking too long to think about whether you want to make an offer on a house may be prudent but when multiple buyers are all looking for a home in the same price range, same school district, same zip code, or city by the time you decide it may be too late.

 

If you think Investors aren't thirsty and hungry for a deal, think again, they probably have more money and can pay more too without being picky. 

 

Consulting with FaceBook friends or texting others to talk about what you should do may be helpful but just like too many cooks in a kitchen can spoil the dinner, so can too many heads who are not in the business of selling real estate cause doubt or influence you to make the wrong decision. 

 

If you think it wasn't meant to be, whose fault can it be? 

 

Driving too hard a bargain when interest rates are this low may come back to haunt you if it doesn't work out.

 

Patience may be a good thing but even patience has its limits. 

 

Never assume interest rates will get any lower or a better house will come along or assume that it wasn't meant to be if you resist and don't try.  

 

Posted by

Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

https://www.trec.texas.gov/sites/default/files/pdf-forms/CN%201-4-1.pdf

 

 dfw fine properties

 

DFW FINE PROPERTIES

                                        3575 Lone Star Circle, Suite 315
                                        Fort Worth, TX 76117
                                        Office: 817-748-4800/FAX: 817--748-4900

                                         Patricia (Peace without Panic) Feager (Faith without Fear)
                                                        Cell: 469-951-4758

                                                        Email: patricia.feager@gmail.com

 

MBA (University of Dallas)
BA
(Bachelors of Arts & Science)
Paralegal (Southeastern Career Institute)
Associates (3) (College of Lake County)
KU (University of Kansas)

CERTIFICATIONS

CRS (Certified Residential Specialist)
SRES (Certified Senior Residential Specialist)
PSA (Certified Pricing Strategies; Mastering the CMA)
CRS (Certified Military Relocation Specialist)
RENE (Real Estte Negotitions Expert)

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

 

  

Comments (32)

Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Patricia Feager, MBA, CRS, GRI,MRP - There is a lot of common sense in your post!  In this market, if you snooze, you lose! 

Jun 28, 2019 08:41 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Sheri Sperry - MCNE® - I am relieved to know someone like you understands and considers there is common sense in my personal opinions. 

I will always move schedules as if they were mountains to accommodate buyers who are serious and cooperative and can appreciate the value I can bring to understand today's market. 

Thank you!

Jun 28, 2019 09:04 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patricia meaning of patience during a buyers market is very different form a sellers market for both Buyers and Sellers.  That is why Buyers and Sellers need to carefully listen to the advice of their Realtor.

Jun 28, 2019 01:41 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

George Souto - As a Mortgage Expert, thank you for your support stating "Buyers and Sellers need to carefully listen to the advice of their Realtor." This is very important because of all the misinformation prospective buyers and sellers get from Social Media, other people, and news sources. 

Have a great day and thanks again!

Jun 29, 2019 01:11 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Buyers who can't decide certainly do try YOUR patience!

Jun 29, 2019 08:30 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

So true, Patricia!

When we were looking for our present home, it took us a year to find it.

My husband had no patience and wanted every house we looked at. I am far more selective than he is and was willing to wait. I was not going to settle. So glad I held strong because we both really love the home we eventually found.

Jun 29, 2019 01:40 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh my goodness, this post needs to be read by a current seller- buyer we are working with...we find a home that is nearly perfect and she picks it apart.  " I won't settle," her words. The sad reality, she is emotionally not ready to see herself in another home...but they have to move due to her husband's health issues. I worry, when her home sells, she will be forced to "settle." 

Jun 29, 2019 02:47 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Marte Cliff - Whew! You can say that again!!!  

Sharon Tara - I guess it's safe to say, this home you recently bought is going to be your forever home... I see the different personalities in couples and those with distinctly different personalities take more time to come to an agreement. Many years ago, Mrs. Buyer told me, "thank you for your patience. I don't know if you realized it, but we weren't just deciding on which house to buy, we were both thinking about getting a divorce! But we're happy now!"

Debb Janes EcoBroker and Bernie Stea JD - I just had that conversation and had to explain what it means to buy a pre-existing home, limitations, budget, location, etc.

Yours is a unique situation. Bad health presents physical, mental, emotional, and financial challenges beyond the normal stress that comes along with their own personal reality. The sooner they make a decision, the better the chances of healing and getting back on track, and learning how to cope with health issues.  

Jun 29, 2019 03:50 PM
Debb Janes EcoBroker and Bernie Stea JD

You nailed it perfectly, Patricia. 

Jun 29, 2019 04:00 PM
Patricia Feager, MBA, CRS, GRI,MRP

Debb Janes EcoBroker and Bernie Stea JD - Thank you. Good luck! 

Jun 29, 2019 05:15 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Lighter Side of RE Meme

Another way to say it:  "If you want to sleep on it, you will never sleep in it." 

Jun 29, 2019 09:17 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Diana Dahlberg - Thank you for sharing that quote. It makes perfect sense too!

Have a nice day!

 

Jun 30, 2019 06:37 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Patricia,  You came up with a great blog that more people sould be seeing and understanding.

 

Jun 30, 2019 10:05 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Will Hamm - Thank you. That means a lot to me. I write from a place of authenticity and original I am. I do not hire people to write for me. I'm not featured every day or every other day.  I'm assuming yours will be the last comment for this post and I wanted to express my gratitude. 

Jun 30, 2019 10:13 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Diana Dahlberg  - There really IS a big difference between sleeping on an idea and being able to live and sleep in your own home. Also, I am not a believer in "If it wasn't meant to be... " That statement to me is like nails on a chalkboard. I do believe "God helps those who help themselves."

Jun 30, 2019 10:18 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

It's so challenging for a buyer to decide within ten minutes of seeing a new listing if they want it or not--so much pressure, especially for first timers.  I always appreciate it when the listing agent puts a deadline in for offers at least 48 hours after listing.

Jun 30, 2019 11:05 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Patricia, your post clearly points us to the fact that KNOWING YOUR MARKET is essential.

The market will let you know what your limits for patience should be.

As agents, we are to provide the best service possible to the consumer. This post would be good to share with them.

Thanks

Jul 02, 2019 10:44 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Mary Hutchison, SRES, ABR - I truly understand! Often when people feel rushed, they get turned off and are more willing to be defeated because that's how they have been conditioned. The 48-hour rule of thumb does seem a bit fairer, doesn't it? It's up to the agents to have more discussions with their sellers before the listing goes live than to jump on the first opportunity which may not turn out any better if someone else had a chance or to tell a seller, something like, this is what we're going to do..

I like the point you made very much. 

Jul 02, 2019 04:40 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

John Wiley - "As agents, we are to provide the best service possible to the consumer." You'll have no argument with me on that statement or best practice! 

I hope you are having a great week!

Jul 02, 2019 04:42 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great wisdom in this post.  Delaying a purchase over something minor will cost more in the long run in a higher interest rate.  Great read!

Jul 02, 2019 06:57 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jan Green - "Higher interest rate," can lessen the choices a buyer has even worse than today with low inventory. You made an EXCELLENT point!

Jul 02, 2019 08:47 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Patricia.  It's so important to help clients look at the bigger picture, not just the countertops!

Jul 03, 2019 07:39 AM