Real Estate - Summer 2017
The real estate market is on fire in many locations across the country, and Spokane may not be on fire (figuratively and literally, thank goodness), but it's certainly a hot market. The capital of Eastern Washington may not be on par with the Seattle area, their 20-30 offers per new listing, or the staggering median home price over $700,000, but the Spokane area is seeing a heated marketplace for both buyers and sellers. As such, the most common problems encountered are typically:
SELLERS:
BUYERS:
There is hope. For Sellers, be realistic and review the CMA with your Realtor. If you are at odds and cannot agree, then maybe s/he is not the right Realtor for you (and maybe you are not the right client for them). Review a Sellers NET Sheet, and based on the recommendation of your professional Realtor see what your estimated NET might be - you may be very pleased.
For Buyers, interview Realtors and align yourself with someone that has your back, earns your respect, and will work for you. With all of the technology available, Buyers can certainly do a lot of the looking themselves, but a good Realtor should assist and guide you in the process. And if you consistently find yourself at the losing end of multiple offer battles, maybe you need a new strategy. Also know, just because you have talked with a Realtor, until you sign a Buyer Representation Agreement you are not committed to them.
If you're happy with your current Realtor, hang in there: you'll close that dream soon. However, if you are not, consider interviewing other Realtors. Allow them to explain their approach, how they market homes for Sellers and how they search for Buyers. Let them to earn your business.
NOTE: if you are ready to interview a new Realtor for either Selling or Buying, I am certainly available and eager to share my approach. Visit my website - SilbarHomes.com and let me know.
The real estate market is on fire in many locations across the country, and Spokane may not be on fire (figuratively and literally, thank goodness), but it's certainly a hot market. The capital of Eastern Washington may not be on par with the Seattle area, their 20-30 offers per new listing, or the staggering median home price over $700,000, but the Spokane area is seeing a heated marketplace for both buyers and sellers. As such, the most common problems encountered are typically:
SELLERS:
- For Sale by Owner: for many, the desire to sell a home on your own (avoiding paying Realtor commissions and pocketing that money) is not wise; every time I've encounter a FSBO and perform a CMA, the Seller has left money on the table. Just in my neighborhood over the past two months I've seen FSBO sellers missing out on $7,000, $10,000, and even $15,000 of NET profit - even after accounting for commissions!
- Being too aggressive and demanding your Realtor price higher than your CMA suggests, and needing to reduce price later to sell your home
- Once you've accepted an offer, finding your the next home before someone else gobbles it up and having somewhere to live when you close on your current home
BUYERS:
- Not acting fast enough: by the time you tour a home, it has an accepted offer and not available
- Being one of many competing offers, and only one can win
- Wanting to build, but the Hirst Decision and restrictions on new wells leave you waterless
There is hope. For Sellers, be realistic and review the CMA with your Realtor. If you are at odds and cannot agree, then maybe s/he is not the right Realtor for you (and maybe you are not the right client for them). Review a Sellers NET Sheet, and based on the recommendation of your professional Realtor see what your estimated NET might be - you may be very pleased.
For Buyers, interview Realtors and align yourself with someone that has your back, earns your respect, and will work for you. With all of the technology available, Buyers can certainly do a lot of the looking themselves, but a good Realtor should assist and guide you in the process. And if you consistently find yourself at the losing end of multiple offer battles, maybe you need a new strategy. Also know, just because you have talked with a Realtor, until you sign a Buyer Representation Agreement you are not committed to them.
If you're happy with your current Realtor, hang in there: you'll close that dream soon. However, if you are not, consider interviewing other Realtors. Allow them to explain their approach, how they market homes for Sellers and how they search for Buyers. Let them to earn your business.
NOTE: if you are ready to interview a new Realtor for either Selling or Buying, I am certainly available and eager to share my approach. Visit my website - SilbarHomes.com and let me know.
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