Both Buyers and Sellers of homes are looking for some of the same items, like getting the best price, gaining the most advantages, and being protected.
The differences I have seen since representing real estate buyers and sellers since 1998 are interesting.
Take a home seller for example. You take the National Average for home ownership and time in a home before moving up and you have about 4.9 years.
That is almost 5 years, on average, that those sellers were in that home. In some cases, it’s been longer and in some shorter. However, where a buyer differs from a home seller is there is more time invested by a home seller. They have been “living” in the home the buyer is viewing and may want to buy. The home seller sees his home as being “valuable” due to it providing for the comfort over a particular amount of time.
Expectations of a home seller are also higher than a first time home buyer. They have “been there” at least once when they first bought the home. That experience may have been GREAT or a travesty. Maybe somewhere in between – anyway, that impact could affect the home buyer.
Home sellers also have an emotional bond with their home. They will say that is not true, in some cases, but I see it. They are attached. You take something, love it and when it loves you back, the bond cannot be helped.
Some home sellers have other decision-makers involved. Those who are not on title, but those who have different emotional connections which may influence a home seller with their home sales decision.
Dependent on buying a replacement home at the same time. This creates additional pressures on a home seller. It muddies the waters if you will. There is now added pressure on the “other side” of the transaction which will rebound and could affect the home buyer.
For example, the home which your sellers are buying, those owners could be difficult to deal with. That would be a catalyst for your home seller to become “difficult”. That scenario also works in the reverse. It could be your home sellers seller is wonderful and giving like the sun – Whereas your transaction when buying their home could be smooth as silk.
Remember when you are buying or selling a home, it should be kept strictly business. While you may have a tendency to be “offended” at a particular response to a request you may have had had, including the original offer, it may be pressure not coming from the assumed source.
There are so many factors to buying and selling real estate. The numbers are very high and the gain, over time, is great, as could be the loss.
The most important step you can take is by hiring a local professional Realtor. I’m Connor MacIvor, I hope this has been somewhat of an informative guide to what can be expected when wanting to buy a home. There is so much more than I present when we have our first in-person or telephonic meeting.
The same applies to a home seller, veteran or first timer. Buyers can be contingent on the sale of their home. Their buyer may be contingent on the sale of their home. And the Buyers Buyer maybe contingent as well – you can see how deep the chain maybe and why it’s important to hire someone that covers all the bases.
Any real estate transaction would have lots of “contingent” home of choice links. We have had a chain as big as 7 HOC – (Home of Choice) contingencies. I think that is when I lost my hair. If anyone of those “buyers” decides to walk, the entire chain breaks and is only repaired with a new buyer.
I’m Connor with HONOR and want to apply for the job of being your Realtor. BE safe – let me know when you or someone that you know needs my services. We are able to conduct our very first meeting in person or via telephone, skype, google chat or other online systems. I want my real estate clients to feel comfortable and love it when those who are looking to hire tell me they appreciate me not being a “typical high pressure” real estate agent.