In Real Estate, Timing is Everything!

Real-Estate-Timing

You’ve heard people say that real estate is all about location, location, location…we agree, but we’d also add that in real estate, timing is everything!

Buying and selling real estate is time sensitive from beginning to end.

Here is a list of ways that timing is critical to real estate sales and how both you and your agent can affect both the finances and the stress level of a sale simply by managing the timing.

Timing the market.

Your Realtor can give you up-to-the-minute advice on the best time to sell or buy in your specific real estate market. The Columbus Team knows each Central Ohio neighborhood well, and we can tell you if it’s a good time to buy, sell, or wait.

Are you ready?

It’s important to be ready to sell or buy when the market heats up. Look on our website for tips about getting your home ready to sell or organizing your finances to be ready to buy. We are happy to consult with our clients to let them know exactly what steps they should take to get ready in time! The faster you can act in a hot market, the better.

Show time!

If you’re selling your home, it’s important to have your home ready to show when potential buyers want to see it and for open house sessions. A home that is uncluttered, clean, and ready to show is more likely to attract buyers, more likely to bring in multiple offers, and will sell for a higher price than an untidy home…or one with the owners still there. It’s worth the effort to have your home ready on time and to be elsewhere while it’s being shown. The effort to manage your time as a seller can pay off in real dollars and cents.

Timely responses.

Whether you are buying or selling, it’s important to respond to offers and counter-offers in a timely manner. Delays can convince either party that the offer is not sincere, and make negotiations that much more difficult. We’ve seen buyers move on to make an offer on another home when sellers delayed a response, and buyers have lost their dream home to a competing offer from someone who responded quickly during negotiations. Keeping an eye on the time limit for responses is important to a smooth sale.

Deadlines.

You need a Realtor who stays on top of the buying or selling process and ensures deadlines are coordinated, tracked, and met for offers, lenders, inspections, repairs, and more. It’s more than good customer service, it’s vital for a smooth transaction and an enjoyable buying and selling experience.

The Columbus Team knows that in real estate, timing is everything, so we keep a close eye on the market and manage transaction deadlines so that your sale proceeds as smoothly as possible. Our Team members are also experienced in guiding you on how to manage your time during your purchase or sale so that your stress levels remain low and your satisfaction with the sale is high.

Do you have any questions about timing? Contact The Columbus Team today, we would love to hear from you!

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The Columbus Team is on Your Team of Long-term Advocates

The Columbus Team Real Estate Advocates

Varied Team of Professionals

We all have a team of professionals with whom we build long term relationships; Experts we call upon for advice or services as we need them. As we move through life, we put together a team of these pros to advise us, to maintain our health, run our businesses, secure our future. We maintain these professional relationships in our networks so we can rely on their support and counsel over time, not just a one-and-done encounter. We have built trust, understanding, and given them knowledge of our needs and preferences. None of us would want to see a new doctor every time we need a checkup! The Columbus Team can be advocates over the long term, just like our primary care physician, dentist, lawyer, and accountant.

The Client Realtor Relationship

The relationship with a Realtor is equally important and their advice and counsel is born out of countless hours of education, experience, and a desire to acquire wisdom and skills to be the best advocate and fiduciary for their clients. Some people keep their Realtor at bay, won’t share or commit, and don’t develop the trust needed to reap the rewards from a Realtor’s professional counsel. They consider a Realtor to be simply a transaction facilitator instead of a long term advisor, or even a wealth management partner in terms of investing.

Why You Should Have a Realtor on YOUR Team

Those clients are missing out on a long term relationship that can continue to bear fruit for them, even years after the sale. Concerned about trends you see in your neighborhood? The Columbus Team knows Columbus communities intimately, from residential and commercial property sales statistics to shifts in crime patterns and changes in school districts. It’s their business to understand the communities they serve so they can help make a match between a buyer and the perfect home. Are you looking to make home improvements that will add value to your home when it’s time to sell? Why not consult the Realtor you already know and trust about what improvements continue to sell well in your community? Need a plumber? No one has a more complete list of trustworthy contractors and repair services than a Realtor! They’re happy to refer you to a reliable professional. A good Realtor has so much more to offer than a single property sale!

A-Game Required

The Columbus Team is here for their clients before, during, and long after the sale to offer guidance, support, and even friendship. Their goal is to be a client’s Realtor for life, so not only do they know Columbus, they know how to bring their A-game to every interaction with those valued clients.

The Columbus Team is on your team, we’re your advocates over the long term.

Aggressive Offers and Pricing, Do They Work?

Aggressive Offers.  Do they work?Recently, I read about a buyer who selected a Realtor based on her assertion that she “aggressively pursued the best possible price” on a home. I wondered if that’s the way to go when buying and making an offer on a home?

Well we all want the best price, and no one wants to feel they overpaid for their home, especially these days when it’s a buyer’s market out there. Every Realtor who is working as a Buyer Agent has a fiduciary responsibility to represent your best interests…including getting a good price on the house. Sounds like an aggressive approach might be proactive, right?

BUT, that Realtor also has an obligation to do their best to balance price with getting you into the home you want. An insultingly lowball offer can not only turn off a seller, but it can convince them to accept another offer without giving you a chance to counteroffer or negotiate. There’s a balance to be struck, and finding a mutually satisfactory agreement on price takes respect and care on both sides.

An aggressive or ill-informed offer can sink the process very quickly. I’ll give you an example: A 2 bedroom condo is listed for $325,000. A comparative market analysis (CMA) shows that another condo in the same development sold for $250,000 last month, and the aggressive Realtor suggests offering $245,000 and planning to negotiate from there. That looks reasonable, right? Not so fast.

The condo that sold for $245,000 had been a middle unit college apartment for the owner’s 6 sons, and was sold “as is” and needed plenty of TLC to bring it up to cleanliness standards, much less happy livability! The owner of the condo priced at $325,000 has an end unit in pristine condition, and is offering to leave their state-of-the art appliances, too. Needless to say, the seller is insulted by the offer, and comes back with a counteroffer that’s only $1000 less than asking. That leaves the buyer no room to negotiate, and leaves the seller looking for a more respectful, better informed buyer!

Another possibility is that there are two offers coming in within days of each other. One buyer aggressively lowballs his offer, counting on a buyer’s market. The other, after doing research and discussing his Realtor’s advice, makes an offer that’s on the low end of reasonable, but not outrageous. Which buyer would YOU negotiate with for YOUR home? Exactly.

The aggressive approach can work against sellers as well. If you price your home aggressively high and negotiate with tiny fractions of the price, a buyer can decide that negotiating your home is more work than it’s worth, and will happily go elsewhere to a similar home.

How do you know if your Realtor is aggressive enough without alienating others in the process? Find a Realtor who does a comprehensive CMA, and can back their estimate of a home’s fair market value with examples and real numbers. A Realtor should be able to present the home’s pros and cons, and show you in the CMA where that house should fit, and should be willing to negotiate and be flexible according to your needs, not their ego.

With the right Realtor standing by you, and good communication between you and your Realtor, you have every chance of selling your home a good price for the market, and/or buying your next dream home at a cost you can afford!