This Market Is Not For Amateurs

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

not for amateurs 

The market is hot right now. Buyers are serious.

Inventory has been limited.

They have been looking for a while and they have lost a house or two.

Are you are serious about buying that “perfect” house?

Now is not the time to time to go with an unseasoned agent trying to get the bargain of the century. New listings are selling. Homes that have been on the market for a while are selling.

Buyers who looked and waited for a price drop are now making

offers when there are other serious buyers.

 

 

What makes a buyer serious?

They are educated, they know the market, they have their financing in place and they are proactive.

There are enough sites to find homes as fast as or faster than any agent.

They are keyed in with their choice of neighborhood, their school system,

their style, and their price range.

No more hearing “ my agent didn’t let me know about that new listing” They have the ability to see their perfect house, drive by it, call their agent make an appointment and write immediately. They’ve done their homework, and they are buying now!

It’s not pretty out there for an unprepared buyer with an unprepared agent.

And it is unfortunate for buyers who are losing their dream house, through procrastination, or poor representation. This is a grown-up market.

Be prepared, do your homework, have a relationship with a buyer's agent and a lender. 

Buyer Prepare!

 

This is not the time to preface your offer with things like this:

 

-Look how long it's been on the market

-It needs work

-This is a fair offer and we NEED seller to pay the closing cost

-We'll give the EMD after ratification

-Seven days to apply for financing.

- Let us know if there is other interest.

- We’ll be submitting soon

 because...

It may be too late.

 

Margaret Rome

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Maryland Baltimore
Groups:
Cosmic Cow Pie...The Rome Way
Bananatude
Bartender, Make it a Double
Old Farts Club
Tags:
real estate professional
homerome
not for amateurs
buyer prepare
buyers are buying
grown up real estate market

Spam prevention
Show All Comments
Rainmaker
2,776,175
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

You make excellent points about working in markets like the current one in so many places around our country, Margaret!

Mar 06, 2020 07:12 PM #7
Rainmaker
2,776,175
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Mar 06, 2020 07:12 PM #8
Rainmaker
1,481,290
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Margaret,
My favorite line:
This is a grown-up market.

Mar 07, 2020 05:02 AM #9
Rainmaker
1,827,222
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Great advice for a buyer wanting to come into this market!  It is a grown up market 

Mar 07, 2020 07:04 AM #10
Ambassador
2,041,525
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

All true. I can't imagine a better real estate guide than Margaret Rome.  The amazing thing - it costs the same. :) 

Mar 07, 2020 07:44 AM #11
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Debb Janes EcoBroker and Bernie Stea JD Always appreciate your comments!

Mar 07, 2020 02:16 PM #12
Ambassador
881,507
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I love this. My favorite is . . . this is a grown up market. And how many times have we heard . . . let us know if there is other interest. Seriously? Great post.

Mar 08, 2020 09:46 PM #13
Ambassador
4,251,456
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Margaret:

The title says it all - perfectly.

The market has heated up and there are lots of ready, willing and able buyers who are looking and making quick decisions. You HAVE to be prepared and be willing and able to move quickly, and be working with an adept agent who understands the market and can and will move quickly as well. It's definintely not for amateurs!

Jeff

Mar 09, 2020 08:31 PM #14
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mimi Foster,  Thank you.

Always so good to see you.

Mar 09, 2020 08:37 PM #15
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Jeff Dowler, CRS Glad you liked the title...

This is definitely not a market for amateurs 

Mar 09, 2020 08:39 PM #16
Rainmaker
3,401,207
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Margaret how spot on with this post, I have to say the last three years have separated the weed from the grass so to speak:) the Pros versus the Amateurs, Endre

Mar 09, 2020 10:03 PM #17
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Endre Barath, Jr. Your market/ prices are way ahead of ours...but ours is strong right now. 

Mar 09, 2020 10:12 PM #18
Rainmaker
776,338
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

"This is a grown-up market." I love this Margaret! Yes, yes it is. When the market is so starved for inventory, it is not the time to procrastinate, low-ball, or try to bully any seller. 

Mar 10, 2020 05:47 AM #19
Ambassador
1,706,708
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Beofre 2008 the market was forgiving of those without expertise with the breathe on a mirror qualifying. Now it takes work and expertise. Some say the level of incompetence but i thin with so many agents it is just the law of averages at work.

Mar 10, 2020 06:30 PM #20
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

I loved talking with you today, Andrea Bedard

 Remember the word NEXT! 

Mar 10, 2020 06:33 PM #21
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Joe Pryor And I say...I'm glad these folks are not in medicine!

Mar 10, 2020 06:37 PM #22
Rainmaker
580,822
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

The same can be said for sellers!  If you have a hot property, and get several offers, the agent must explain pros and cons of each, communicate well with all agents, don't burn any bridges and try to get the best deal for the sellers.  Often it's not the highest price, either.  That's where negotiating and experience comes in 

Mar 11, 2020 08:53 AM #23
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mary Hutchison, SRES, ABR  So true! The seller needs an experienced agent. Now is not the time for amateurs. Negotiating skills are needed for this market!

Mar 11, 2020 12:19 PM #24
Rainmaker
1,017,871
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great post!  Which is why I tell clients, we can change a part of the contract later.  Just get it done!  Better to be first than to be right!

Mar 17, 2020 09:56 AM #25
Ambassador
3,207,283
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Jan Green So true. Just get it done and make changes as needed.

Mar 17, 2020 04:15 PM #26
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,207,283

Margaret Rome Baltimore 410-530-2400

Sell Your Home With Margaret Rome
Sell Your Home Margaret Rome 410.530.2400
*
*
*
*