5 Instances You Will Be Glad You Had a Realtor Share
December 20, 2014
The things you can do with technology are just astonishing these days. From learning languages to video chatting from your phone to apps that lead you to where you parked your car, it’s a whole new world! The things my girls show me my phone can do each time they visit are just mind blowing.
But despite all the things you can master with technology and do it yourself, real estate is one arena you will want to stick with a professional. Here are 5 instances you will be glad you did:
Navigating Neighborhood Specific Issues
Every area comes with its own quirks. And without a neighborhood specific realtor, you might be caught in the blind. Especially when moving to a new city or purchasing a second home, make sure you have a guide who knows the area, understands the strengths and can prepare you for some of the downsides or potential areas of concern.
Example: I ensure that every buyer looking in La Jolla request a full structural engineering report. A few properties in the region have had land issues in the past, such as landslides. I never want one of my buyers to purchase without having all the facts.
Going to the Fighting Ring
To those who are die-hard negotiators and thrive in a good quarrel, I salute you. Most individuals prefer to avoid confrontation. Even for those who thrive in a dispute, just like the idea of an attorney representing himself, bring in an additional professional to have your back. There is an art to real estate negotiation, and 90% comes from having a clear understanding of the market and the research to back it up.
Example: Most people think negotiation is all about price. But remember real estate is actually about people, their homes and creating a beautiful life. Sometimes you need other things negotiated to make the deal fit your life. Recently I negotiated an extension on a move out date to allow for one of my sellers to have a little more time before they moved into the next phase of their life.
Requiring Inspections & Repairs
As a seller, you might want to skip some of the costs with getting your home up-to-date. But not investing upfront could create disaster down the line, such as not getting a termite report before putting a home on the market. The phrase “termites” sends chills down a buyer’s spine, even though most repairs can be a quick fix. But once the label sticks, the damage has been done. Another time, an update in a home of $1,000 could add $5,000-$10,000 to the listing price.
And for buyers, never purchase a home without a thorough inspection. It’s one of my staple requirements. I had a couple so in love with a house, they thought nothing could be wrong with it. After serious encouragement, I got them to bring in an additional inspector to review some drainage pipes. Talk about a game changer! The house needed a serious piping overhaul. It was an entirely different conversation at the negotiation table after that little tidbit of information.
Planning for the Unprepared
Many factors impacting your home are out of your control. Our job as realtors is to help you account for as many as you can, and build contingency plans for ones living in unknown territory.
Example: I helped a woman purchase a condo in a large, older complex. The last thing she wanted following finalizing the sale was to be hit with a $10,000-$12,000 assessment fee. Without knowing for sure if that was coming down the pipeline, I fought hard to hold money in escrow to cover any assessment fees following the first two years of ownership. This made the buyer comfortable, and if there was no assessment in that time frame the sellers would get the money back. A win-win situation.
Bringing in Other Parties
When was the last time you vetted an appraiser? What about an Escrow Company? Since Yelp reviews are becoming less reliable, and the last person your friend recommended was that weird plumber, you will need quality recommendations when assembling a team to finalize your house transaction.
As a realtor, I pride myself on establishing a strong relationship with quality professionals to help my clients. We all want your transaction to go as smoothly as possible. And since all the vendors play a big role in your overall outcome, having a quality team is crucial.
These are just a few of the reasons why you want a seasoned neighborhood specific realtor in your corner. If you want to hear more stories of unusual circumstances that buyers or sellers got into or talk about a move you have been thinking about, let’s grab coffee!