Think – at least – Twice

By
Real Estate Broker/Owner with Pareto Realty TN #251071

My personal rule is not to buy on impulse.

Often, the Universe conspires to cause me to violate this rule.

There are some times when I am unsuspecting and vulnerable to these “attacks”.

I fall for the “GREAT DEAL!” or

“If you don’t buy this NOW, you’re gonna miss a HUGE opportunity because supplies are limited.”

Or the timing just happens to be “perfect” . . . An unexpected financial gain shows up just as that “PERFECT” widget becomes available.

“All the COOL people like me already own one of these.”

“We’ll make it VERY convenient for you buy this from us.”

There are a few companies here in Nashville who are proliferating the radio, Billboards, Bus space with ads inviting Home Owners to “Sell your house without the hassle”. All you’ve gotta do is tell them your address and answer a few questions, and they will immediately send a CASH offer and will then let YOU decide when you move.

This level of convenience comes at hefty cost which is OK as long as you don’t (ever) know how much money you’re “leaving on the table”.

Your first think is: “This convenience is SO awesome!”

Your 2nd think might best be along the lines of: “Wait! These companies are buying the house, making very few improvements, and then selling the house at a PROFIT for them.” If this weren’t true, they’d be going out of business.

Your 3rd think might be the question: “How much $ would my house fetch if I were to sell it in the open market?”

My suspicion is that most of the home-owners selling their houses to these companies are abandoning 10% to over 20% of their equity. Of course this is fine and dandy if the convenience is “worth it”.

BUT . . . Wouldn’t you WANT to know the likely open market selling price before selling?

Well – You CAN!

Simply contact a LOCAL REALTOR and request an appointment to give you an opinion of value before taking action. A local real estate legend Richard Courtney is running an ad on the radio that boils the BS out of it. Essentially (paraphrased), He makes it clear that he (and other REALTORS) are NOT in the business of BUYING your house (at best terms for them) . . . he is in the business of SELLING your house for MORE money than any other company or REALTOR can.

This is true for most real estate sales professionals.

Look for and Learn the truth before leaping.

My inspiration for this post came from daughter Jess who didn’t like the $450 quote from the dealership to fix her car window . . . so she thought and researched and found the right part for $45 on Amazon and installed it herself thereby saving @ $405.

Unless you’re independently wealthy with unlimited money, think more than once.

Published by Barry Owen 

Strategist-CEO of Pareto Realty Real estate sales Professional Inviter-Facilitator-Practicer of Open Space Technology Opening safe space for people & organizations to self-organize around issues & opportunities BarryOwen.US Invite-Listen-Love 

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Rainmaker
837,159
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

This is an excellent post and I hate when salespeople say you have to decide today, this price is only good for 12 hours. We all need time to step back and think, do we really need that right now? Is this the best thing for me? And yes, sellers need to weight the convenience of getting a convenient settlement date selling their home without inspections etc for what it is really worth and what they are leaving on the table. Good for your daughter and glad she worked out how to fix it.

Nov 21, 2019 07:28 AM #1
Rainmaker
2,054,475
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Barry Owen - these sound very easy but good rule to follow is if it seems to good to be true it is.

Nov 21, 2019 07:32 AM #2
Rainmaker
2,653,435
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

It is important to do our research before buying.  This is especially true with big ticket items.  There is a whole lot of junk out there.  For example, I bought a sewing machine that the computer went out on within two years.  And, I haven't had good luck with HP printers lately either.

Nov 21, 2019 08:14 AM #3
Ambassador
4,049,168
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Barry- it's one thing to make an impulse purchase on something like a book or even a pair of shoes but a home???!!! Why would you want place this major investment you have in the hands of someone who requires you to not think about it.

Nov 21, 2019 06:33 PM #6
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