Trim Your Beak
By Russ Meyer, Managing Broker
This market has highlighted some important lessons in real estate market. I am regularly reminded of the things I have learned over the last decade.
Sellers, care and maintenance of your property are still essential to get the highest price possible or even to get an offer that you want to look at. My colleague Paula Randall wrote an article with some good advice a few weeks ago. Here are my stories.
My buyers rejected a house. They noticed rat traps and a general uncleanliness. What really caused Mr. Buyer pause was a bird. The family had birds. One of the birds has a beak that must be trimmed to keep the bird healthy. Mr. Buyer noticed that not only had the beak not been trimmed, it had become so long that it had twisted on itself and probably caused the bird difficulty in eating. Caring for a bird and caring for a home might seem separate. For this buyer, the untrimmed beak of a living creature made him question the general willingness of the seller to have maintained the parts of the home that we often forget about.
Buyers, my lesson for you is to be prepared, overly-prepared for this market. We are all excited about the interest rates and the ability to buy a home or upgrade. Unfortunately, many buyers are jumping before they plan. It can be hard to think through all of the probabilities. Think this through. Understand what your goals are for the next five years and how you have to spend your money. Consider the impact of a move on your daily life as well as your budget—commute to work, schools for kids, daycare arrangements, required maintenance of a property, etc…It is frustrating for everyone involved (buyers, sellers, agents) when buyers back out because they suddenly realize their dream home is not possible right now.
This is not to criticize buyers or sellers. These are lessons I receive almost daily reminders of. The simplest advice I have for you…listen to your REALTOR®. Let your REALTOR® guide you. Maybe it’s the right time, maybe not. Do your homework and trim your beak.