Top 5 Reasons To List Your Home During The Holidays

Top 5 Reasons To List Your Home During The Holidays

In Lewis County, homes prices have increased 13.21% compared to this time last year. More and more owners are beginning to realize they no longer owe more than their home is worth. Obviously, it’s a great time to list your house!  But many sellers wonder if this season is a good time to list, let alone the inconvenience, for fear they will lose money on their sale. Although counter to popular opinion, the winter holiday season is one of the best times to sell your home! The following is a list of the top 5 reasons to list your home during the holidays.

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#5 Less Competition

Many sellers take their home off the market. Less inventory means buyers compete over your home!

#4 Fewer Tire Kickers

Buyers who want to look at your home during the holidays are very serious and could be under a serious time crunch.

#3 Decorations are Encouraged

Your holiday decorations add to the ambiance of the home and allow the buyer to imagine themselves celebrating with family and friends.

#2 Time is of the Essence

Some buyers have to buy before the end of the year for tax purposes. Others are starting new jobs in January and want to get settled in before day 1.

#1 Mo' Money

The holiday season is a time filled with family and friends enjoying each other’s company, good food, memories, and “coming back home.” All of these emotions factor into more money for you!

These are the top 5 reasons to list your home during the holidays. While it is true that most home purchases are completed in the summer months, the second best season for buying and selling is during the holidays. During the recent economic downturn, the holidays were actually the best season for buying and selling real estate in Lewis County.

If you’re looking for a Realtor to assist you with your next home sale, or even if you just have questions about the current market, let’s chat about your options!

Top 5 Seller Complaints (And Why They’re Easy to Fix)

Top 5 Seller Complaints 

(And Why They’re Easy to Fix)

Find all homes for sale in Lewis County at LewisCountyHomes.com

5. Agent Tried to Give My Home Away

Image Courtesy of  EyeOnYourHome.net

“Your home doesn’t have any offers, we need to reduce the price” Does that sound familiar? Every drop in price seems like you’re leaving money on the table just so the agent can make a quick sell. While that may or may not be the case, an agent can’t reduce the price of your home without your signature. If you’re not sure what your agent is doing to market your home, why would you agree to a price reduction? I see many sellers SETTLE for poor marketing because they’ve entrusted their agent to get the job done, without verifying the quality of work. 

Easy Fix: 

Ask your agent for examples of their work, then ask for the analytics. If it’s not up to par, ask them to update it. If they refuse, talk to their designated broker, and if it still doesn’t get fixed – tell them you want to cancel the listing.

4. Agent Made My Home Look Like a Dungeon

We’ve all seen it, there’s even websites dedicated to it: The Horrible Picture. Whether it’s dark, grainy, sideways, or there’s something creepy in the middle of the room, there’s no shortage of unprofessional photos for listings. Some agents simply don’t know any better and some are just lazy. 

Easy Fix:

The stats don’t lie, here is one example. If your agent does not provide professional photography to sell your listing, demand it or find another agent who does.

The professional photography difference for the same listing

3. Agent Did Not Do Anything to Sell My Home

Image Courtesy of ScanOnTheSide.com

While there are agents who do nothing, the majority at least do something. The problem is this is never communicated to the seller. I’ve actually heard agents say, “All agents do the same thing, pick who you like the best.” These agents truly believe there is no difference, and that’s truly sad. If an agent can’t differentiate themselves from the competition, how hard do you think they’re going to try to get your home sold? 

Easy Fix:

Make sure your agent has a plan of action, and make sure you understand what’s happening. If that plan is not being carried out, speak with your agent and see if they’re willing to correct it in writing.

2. Agent Only Contacted Me to List and Re-list When My Home Expired.

Image Courtesy of  Someecards

I’m not sure how this occurs. There are so many emotions that happen when you’re selling your home, it’s like riding a roller coaster. How does the agent not call with feedback from showings, marketing updates, or just to check in? In my listing appointments, I am explicit about what and when I communicate and I invite my clients to call me anytime. I can’t promise to answer the phone immediately but I always make time to return calls at the end of the day. Agents are the ones getting paid to serve you, not the other way around.

Easy Fix:

Make sure you have a communication plan with your agent in place before listing and make sure your agent follows it.

1. Agent Did Not Sell My Home

Image Courtesy of  BHHNEProperties.com

And the #1 complaint from sellers I hear is that their agent just did not get it done. Coincidentally, or not, usually the other complaints on this list show up in the conversation as well. You have so many different companies and agents to choose from, it’s hard to know what the correct decision is. 

Easy Fix:

Here’s a couple questions to separate the wheat from the chaff:

#1. Will you put it in writing that you will let me out of the contract if I’m not happy with your services?

If the answer is not unequivocally yes, move on.

#2. Other than price and closing costs, how can you save me money during the negotiating of the offer?

This question tests their knowledge of real estate forms. If they can’t come up with at least 1 immediately, move on.

#3. Will you agree to a communication plan and put it in writing?

If the answer is not unequivocally yes, move on.

#4. What is your average list to sales price ratio?

If they don’t know this off the top of their head, move on. Ask them to present the evidence to you before signing.

#5. What services do you provide that are different from your competitors?

If the answer is “we’re all the same” or “customer service”, move on. I’m not saying customer service isn’t something that differentiates, it’s just subjective. Look for answers that are verifiable and produce results. 

If you're looking for a Realtor in the Chehalis or Centralia area of Lewis County who's an expert in re-marketing expired and hard to sell properties, give me a call!

7 Tips for Chehalis / Centralia Home Sellers: Tip #7 FSBO/Expireds

7 Tips for Chehalis / Centralia Home Sellers: 

Tip #7 FSBO/Expireds 

Good morning and welcome to the final tip of 7 Tips for Chehalis/Centralia area Home Sellers. I’m Eren Millam Realtor of Realty World Cosser & Associates and I hope you’re having an extraordinary day! Last week we covered setting expectations for extraordinary communication from your agent. We’ve got a lot to cover today, so let’s get started!

The #1 reason why sellers try to sell their home without a realtor, is the cost savings. This could be 10’s of thousands of dollars or more on a single home. That is a big PRO!

The #2 reason stems from a distrust of realtors, in that sellers believe they can market their own home just as well, if not better than, an agent. Why pay realtor fees when you can do it yourself?

Let me be clear, real estate agents have EARNED their reputation.

Let me also be clear, not every agent is created equal!

I have seen many For Sale By Owners who have done better jobs at marketing than Realtors. Many agents have forgotten that we are in a marketing and service industry and they have given the rest of us a bad name.

Now, let’s address the concerns of For Sale by Owner properties:

#1 Saving on Realtor Fees

Only 2% of FSBOs sell to someone they DON’T know. If you have someone lined up for your house, there’s a good chance you’ll be able to sell your home. If not, there’s a 98% chance you won’t sell.

On top of that, studies have shown that homes listed by Realtors, sell for more on average than homes sold by the owner. My personal experience bears this truth. I average 11% greater sales price for my clients than when they tried to For Sale By Owner. Now, I don’t charge anywhere close to 11% commission so while the seller did pay a Realtor commission, they netted more money in their pocket by using me rather than doing it alone.

Also, during the transaction, I was able to guide them through the process and save them money by negotiating on their behalf when it came to inspections and repairs.

#2 Marketing Your Home

In a previous lesson, I discussed a little bit of what I do to market homes. However, there are not many agents that market the same way I do. It’s no wonder so many people are disappointed when their home expires from the market. When I go on listing appointments of expired homes, sellers are flabberghasted by the difference because they’ve never even heard the type of marketing language I use by any other realtor. 

A new set of buyers hits the market on average, about every 3 weeks. This is one of the reasons why a Realtor will ask for a price drop every few weeks if the home hasn’t sold. But, what have they done to market it? Most sellers seem to have this question, yet few ask it. Many agents will “set it and forget it” and hope for another Realtor to bring them a buyer. With me, you will know what I’m doing, when I will ask for a price reduction, and how much we should reduce it based on how the market reacts to it.

The final reason why a seller chooses not to work with a Realtor is because they’ve had a bad experience in the past. There is nothing I can say to change that experience. It may seem like a lot of work to weed through all the different agents and their promises, but it will save you money, time, and stress if you make the right selection. Here’s some questions to ask to assist you in selecting the right agent for you:

What sets you apart from other agents?

How is your marketing different than other agents?

How often will I be hearing from you?

What happens if I’m not satisfied at any point in the contract?

What’s your opinion of open houses?

These are just a few questions to get you started. If you hear anything that is too generic or “we’re all the same, pick who you get along with more” type answers, those should be red flags. You’re hiring someone to sell your product, they should be adept marketing and service professionals! I hope you’ve enjoyed this series and if there’s anything you take away from it, let it be this: Don’t settle for anything less than Extraordinary! 

7 Tips for Chehalis / Centralia Home Sellers: Tip #6 Extraordinary Communication

7 Tips for Chehalis / Centralia Home Sellers: 

Tip #6 Extraordinary Communication 

Good morning Lewis County! I’m Eren Millam Realtor and I hope you’re having an Extraordinary day! Last week we covered marketing to the modern buyer. If you missed it you can click here. Today we cover what to expect from your agent regarding communication.

The #1 complaint from sellers of agents is a lack of communication. The expectation varies from seller to seller, but if you don’t discuss this prior to listing, during listing, or after the listing, how does your agent know what you want? It may seem like I’m putting the blame on you, the seller, but I’m not. An average agent will never know what you want because they’ll never ask or discuss it with you. You’ll hear from them when you list, then again when you’re about to expire.

An Extraordinary agent will discuss with you their plan of communication and ask if that works for you and if you have any changes you’d like to make with it. Not only when they’ll communicate with you, but what they communicate to you. For example, I update my clients every two weeks on the general market, changes in the market that affect their listing (like new on market, pending, and sold), activity on the home (if vacant), as well as how well the marketing is working.

A lot of agents will ask for a price drop when there are no offers, but they won’t tell you what they’ve done to market your home. These same agents typically employ a “set it and forget it” tactic of entering it on the MLS and hoping another agent brings along a buyer. If you find yourself in that situation, I’d ask for specifics and if they can’t deliver them to you, I’d fire them.

You’re the boss and you set the expectation of communication with your agent. Why settle for less than Extraordinary communication? Although this video tip is short, the topic is important! Next week we’ll address what happens when your listing expires and the pros and cons of listing For Sale By Owner. Until next time, don’t settle for anything less than an Extraordinary day!

7 Tips for Chehalis / Centralia Home Sellers: Tip 5 Marketing to Modern Buyers

7 Tips for Chehalis / Centralia Home Sellers

Tip 5 Marketing to Modern Buyers 

Hello, I’m Eren Millam Realtor, creator and curator of Lewis County Homes dot com. The Place for Lewis County Real Estate! Last week I provided some great tips on DIY staging and you can find that video here. Today we talk about the modern buyer and how to market to them.

Pre-internet, if you want to buy a home, you went into a Real Estate office and looked at a book of current listings. Once you found something you like, you went out and toured it with your agent. That’s no longer the case. A buyer starts their search online and can look at any listed home in the world from their home computer. Question is, do you think the change in how buyers search and find their homes requires a different type of marketing than was used prior to the internet? 

The answer is most certainly, yes!

This doesn’t mean that all old forms of marketing no longer work and shouldn’t be used, but it does mean that in order to get the highest price for your home, you need to expose your listing online using modern marketing techniques! If you select an agent who only markets your home in print advertising, you’re missing 90% of the market. So, what does it take to market to online buyers? 

Let’s ask them how listings grab their attention.

ü  Buyers want photos that show the property, but also show it well without intentionally misleading them.

ü  Buyers want lots of photos. Studies show properties with more photos tend to get more interest because the fewer the photos, the more buyers believe something is being hidden.

ü  Buyers want listings to be advertised where they’re at. Not just online, but social media and dedicated real estate sites.

ü  Buyers want listings to show up when they search for them. How frustrating is it to come across a home and not be able to find it again?

ü  Buyers love video and want tours of listings as still images don’t necessarily give an insight to the feel and flow of the home.

ü  Buyers want access to all pertinent information of properties, and they want it all in one place and easy to access.

If your agent doesn’t know this, or doesn’t know how to provide this to buyers, how well do you think they’re going to market your home?

I’ve heard complaints of other agents from buyers and sellers alike, that are frustrated with the quality and amount of pictures. Most do and say nothing because they assume it doesn’t get any better. As a Realtor, it is my job to professionally market your home, so why wouldn’t I get professional photos? Do you think professional advertisers use their cell phones to sell their products?

The majority of modern buyers no longer read the newspaper or real estate magazines. If they do, it’s an online version. Multiple, consisting social media posts is no longer the exception, but the rule. Even better, is a post that sends an interest buyer to a single property website that features your home and all its information, pictures, and video tours! They can then share this information with their family and friends, further exposing your home beyond its initial reach.

Finally, a buyer’s typical search on Google goes something like this: “chehalis homes for sale between 150-250k”. Typical results are Zillow, Trulia, etc. and send them all available options. Wouldn’t it be great if you could get your specific home at the top of the results? And instead of sending them to Zillow, they’d go directly to your home’s video tour? You’ve now got the buyers attention for 3 minutes rather than the usual 5 seconds and they have a reason to come back or share it.

If you want to get top dollar for your home, you need to market to the modern buyer. Without the enhanced marketing techniques, you’re missing a great deal of potential buyers and exposure. Buyers set the market, so why not make them compete for the chance of owning your home? Next week we’ll cover agent communication and why it’s important for you not to settle for less than Extraordinary. You know the drill, go out and make it an Extraordinary day!

7 Tips for Chehalis / Centralia Home Sellers: Tip # 4

7 Tips for Chehalis / Centralia Home Sellers: 

Tip # 4: Staging Your Home

Hey there! Eren Millam Realtor here and I want to tell you why it’s important to stage your home when selling. Last week, I spoke about the importance of correctly pricing your home and you can find that video here.

When you first started house hunting, you probably gave your agent a list of criteria that you wanted in a home. They probably took you to a few that matched all your criteria only to find out that’s not at all what you wanted. When they ask you for feedback, you probably said, “I don’t know, I just don’t “feel” it”. Sound familiar? Well I am here to tell you today that the feeling you didn’t feel probably has to do with how your home is staged.

When I talk about staging, I’m not talking about professional staging, although that is your best option. Sometimes staging can be as simple as re-arranging furniture so the showing can “flow” though the house. Buyers do not buy a home because it matches their criteria, they buy it because of how it makes them feel. This may seem silly to you, but I encourage you to try it for yourself!

Here’s more evidence. When agents were asking if staging made a difference to their buyer, 96% said it had some or a great effect on their buyers. If a buyer can’t imagine themselves in your home, they won’t buy it period.

So here’s some things you can do to stage your home on your own:

Clean: Not your average cleaning, but spring cleaning type of cleaning. Deep cleaning throughout the house. Dust, vacuum, mop and don’t forget to clean the windows!

Light: Make sure all your lights work, and turn them on. Open up the blinds and let natural light in. Turn unnecessary electronics off (tv, computer, etc).

Pre-pack: Remove personal items and knick-knacks, remove rugs, and make sure to put away daily use items such as shoes/hygiene etc. Put away toys, remove items from refrigerator, pack personal photos etc.

If a doorway is blocked or you can’t easily move from one room to the next, open it up!

It’s annoying, but you have think of your home full of memories, now as a product that you’re trying to sell for top dollar. If your memories are everywhere in the house, the new buyer won’t be able to imagine their own memories. Worse than that, I’ve had buyers get sidetracked looking at photos on the wall or perusing the titles of magazines on your coffee table. If the buyer has more interest in anything other than the home, you’ve lost them because they won’t even remember it.

So staging makes a big impression on buyers whether it is done or not done. I’ve outlined a few things you can do on your own and can answer any question you might have if you want to take it further. Next week, we’ll talk about marketing and what it takes to get today’s buyers to pay top dollar for your home. Now, get out there and make it an Extraordinary day!

Chehalis Home For Sale: 1528 Ceres Hill Rd, Adna, WA

1528 Ceres Hill Rd, Adna, WA

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$ Click for current price
3 BEDROOMS | 2 (2 full ) BATHROOMS | 2352 SQUARE FEET

Less than 10 mins from I-5 on a quaint country road, you'll find the perfect fusion of rustic design & modern amenities! Taste the succulent bounty of apple, plum & pear trees or harvest history from your 56-year old grapevines! Make your way inside & you're greeted by an open concept chef's kitchen leading to the great room w/ vaulted ceilings and exposed beams! Ideal for entertaining, you're just a few steps away from the private backyard & fire pit. This is the life you've been longing for!

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7 Tips for Chehalis / Centralia Home Sellers: Tip #3

7 Tips for Chehalis / Centralia Home Sellers:
Tip #3 Pricing Your Home

Welcome back to 10 Tips for Chehalis/Centralia Area Home Sellers! I’m Eren Millam Realtor, Extraordinary Service – Extraordinary Results. Last week we discussed the selling process once you have an offer. If you missed it, you can click here. Today we’re going to talk about the importance of pricing!

I’ve talked about the distrust of realtors before and I think that plays a large factor when discussing price with a seller. Most sellers want to start high, test the market, and come down in increments until they get a bite. They don’t trust when their agent tells them that’s not a good idea because they think their agent wants a quick sale and fast commission. Granted, that may be true for certain agents – but trust your gut. If something doesn’t feel right, ask your agent to back up their statements with market evidence. Another strategy I hear is to list high so seller can negotiate lower with buyer. Being a Certified Negotiation Expert, I can tell you both of those strategies lead to undesired results.

If you list too high above the market, you won’t get any interest from buyers. Buyers will compare your property to others and see they get similar amenities, updates, and upgrades for a lower price. Like it or not, a home that is priced high will become “stale” in the eyes of buyers and you usually end up selling for a lot lower than market value because you’ll only receive low-ball offers. I’ve worked with sellers who wouldn’t take multiple offers they deemed too low only to settle on a final offer that was 10% less than those original low offers.

Obviously every seller wants the highest amount in the fastest time for least amount of hassle. The way to do this is not to price high, but to price competitively! An Extraordinary agent will know what similar homes are selling for, what the competition looks like, and how to position your home so it presents a value to the buyer. This does not mean that buyers are getting a deal, but there’s nothing more enticing to buyer than a house that screams “get in here today or you’ll lose me forever”. That’s the way you get top dollar. Your house has to be seen to buyers as something they can’t live without. Buyers will pay more if they think they’re going to lose out on your home, and if you have multiple interested buyers, the price of your home will go up. Don’t believe me? I follow a proven system of pricing a home based on the market’s reaction to it. That’s why 30% of my listings last year went over asking in less than a few weeks, some within HOURS of being listed.

Which do you prefer, an agent who goes along with your strategy and hopes for a high offer, or an agent who knows with certainty how to get you the highest amount using proven systems based on a foundation of negotiation expertise?

So today we talked about the importance of correctly pricing your home to sell. Resist the urge to list high as it will lead to a lower sales price overall. The key thing to remember is that a willing and able buyer is who sets the price. It’s your agent’s duty to show them what the true value of your home is. There’s really 3 components to ensuring your home sells for top dollar, but we discussed pricing 1st because it’s the most important. But, even if you’re priced well, you still might not be able to find a buyer due to staging and marketing which we will discuss in the following weeks. Until next time, make it an Extraordinary day!

7 Tips for Chehalis / Centralia Home Sellers: Tip #2

Tip #2:  What Happens During a Purchase & Sale?

Hello Again! This is Eren Millam Realtor coming to you from Extraordinary Photography Studios. Last week we discussed the importance of understanding your current market. If you missed it, you can click the link in the video at 23 seconds. This week I want to talk to you about What Happens During a Purchase and Sale after you’ve received an offer.

Most well priced homes sell within 95% - 97% of current asking price. An Extraordinary agent averages between 99% - 102% of asking price! But, I digress.

So you’ve received an offer and now you have three options. You can accept, reject, or counter. Your agent can go over the pros and cons of each offer, but it’s up to you what direction you want to go. For the purposes of this video, let’s say you received a full price offer and accepted.

The first period of an offer is the inspection phase. This phase is typically 10 days but can be shortened or lengthened during negotiations. A buyer will pay for a licensed home inspector to review the current state of the house and make note of any issues whether serious or not. Once completed, the buyer has an opportunity to request seller to pay for certain repairs. It is then up to you, with the guidance of your agent, to decide whether or not you will do any repairs or certain repairs. The majority of deals die in this phase for obvious reasons!

Once you and buyer have agreed to move forward with the purchase and sale, the next phase is the appraisal. This phase can last anywhere from a few days to 4-5 weeks depending on your area and the time of year because of the availability of appraisers. The appraisal is ordered by the buyer’s lender (and paid for by buyer) to assess the condition of the home and to make sure the agreed upon offer is in line with the market. The ideal scenario is for an appraisal to come in at-value. If it comes in over agreed price, your agent left money on the table. If the appraisal comes in lower than agreed price, you have three options. 

The first option is to come down to appraised value. The second is to stand firm and ask buyer to come up with the difference out of pocket. The third option is almost worthless, and that is to agree with buyer to terminate contract. I say it’s worthless because some appraisals stay with the property for up to 6 months! So even if another buyer wanted to pay full price, they’d run into the same issue with a low appraisal. Most buyers don’t have the ability to make up the difference in my experience, but every situation is unique and use your agent’s expertise and guidance to make the best informed decision.

After that, it’s really just a waiting game for lender and title company to draw up paperwork and review the title. Your main costs will come from any repairs that you’ve agreed to and if you have a septic, you will need to get that pumped which is around $400 - $600 in the Chehalis / Centralia area. Those are typically out of pocket expenses, and the rest such as closing, title, escrow, realtor, etc. will come out of your proceeds at closing, as well as any liens or loans currently on the property. (As an aside, a short sale is when you owe more on your house than it is currently worth. If you don’t have any money to bring to closing, the amount you owe is written off as a default. That is a subject for another time).

Alright, so we talked about the purchase and sale process. It doesn’t require a ton of work on your part, but there is a lot of waiting and some upfront costs involved. The key here is selecting a Realtor who knows and understands the forms required and how to use them to your benefit. Wouldn’t that be a great question to ask when selecting an agent to list your home? Next week we’ll discuss the importance of pricing your home to ensure you get top dollar! Thanks so much for watching, now go out and make it an Extraordinary day! 

7 Tips for Chehalis/Centralia Home Sellers: TIP 1

This is the first video in 7 Tips for Chehalis/Centralia Area Home Sellers and today we’ll discuss Understanding Your Local Market.

When you’re thinking about making a move, it helps to know what your options are. One of those options, is how much your home is worth and how much you can expect to make. You will probably hear all sorts of rumors about a good market, low inventory, but unless you’re involved with the real estate industry, it’s hard to know an exact range.

Many people go by their tax assessment or online real estate sites like Zillow. Both are inaccurate. The tax assessment follows legal guidelines for value and of course, they’re going to tax you at the highest rate possible. Many times after a sale, the assessed tax value will go up because the higher sales price increases the maximum taxable value. Likewise, Zillow is inaccurate because it uses an algorithm. If you don’t input correct information into the algorithm, you’re not going to get accurate estimates at the end. In my experience, Zillow is off on home valuations by at least 30% or more!

Another option is to hire an appraiser for $400-800. To be quite frank, appraisers rarely get it right. An agent friend of mine told me a story where she told the owners a price and her broker didn’t agree. So the broker told the owner to get an appraisal and they will sell it for that amount, whatever it is. So appraiser came in higher by another $20,000. The home expired a few months later with very little interest.

That leaves you with your best option for understanding your local market: a Realtor. Granted, we don’t always get it right either, but we, for the most part, have a pulse on the market. The key thing to remember is that the market is set by a willing and able buyer for your property. A Realtor is going to be the most accurate estimate of value, and it’s free to get a Comparative Market Analysis done for your home! 

Once armed with that information, you’ll then have to decide whether you want to list with a Realtor or sell the home yourself.

Thinking about “Selling my home For Sale By Owner”?

One of the biggest reasons a home owner will chose to sell their home by themselves is to save on the commission. However, in reality you’re discounting your home by 11%+. I’ve worked with many FSBOs and I average 11% greater sales price than their last advertised price, more than making up for the commission. The difference is enhanced exposure. You’re not going to get the highest possible price if that person doesn’t know your house exists!

In summary, if you’re thinking about selling your home, the first step is to know your home’s value range in the current market. You have many options to find that value, with a Realtor being the most accurate. You can then list with a Realtor or market the home yourself. Next week’s video we’ll go over what happens when you receive an offer! Thanks so much for listening and make it an Extraordinary day!

Demystified: The Home Buyer Consultation

Demystified: The Home Buyer Consultation 

So if you haven’t learned from my other blogs that I am a big proponent of the buyer consultation, let me be clear: I am a big proponent of the buyer consultation! Most buyers (even some agents) have never heard of a buyer consultation and typically react negatively when I suggest meeting for coffee to discuss what you’re looking for.

I get it. You can look for homes online and you’re more informed as a buyer class than any other buyer class before you. You just contacted me because I can get you into the door, and you want to limit the amount of time you’re with me, one of the least trusted professions in the world. But, let me throw it back on you – do you want to work with someone who does not insist on buyer consultation because they’re afraid of losing a commission or do you want to work with someone who has the heart of a teacher and takes time to answer your questions and fill in potential blanks that could save you thousands of dollars?

That being said, I wanted to explain what happens during a buyer consultation and why it’s important, so without further ado…

Image Courtesy of Pinellas Suncoast Home Sales

1. Discuss what you need / want in a home and separate them.

When I ask buyers what they’re looking for, a fairly common answer is “3 Bedrooms, 2 Bath, and some land.”  I could find you a ton of properties that match that description, but in my experience it’s not all about marking the check boxes – it’s about the feel of the home. It is extremely difficult to find that “feel” you’re looking for without delving deeper. For example, “some land” may mean 1 acre because any more would be too much to maintain where another buyer would say a minimum of 5 acres. I’ve had buyers call me, tell me a home is perfect for them, they want to go see it immediately, but after meeting change their mind because they didn’t realize it was in a flood zone! Once we’re on the same page about what you’re truly looking for, you won’t need to take time off work to look at homes that don’t cut it!

2. Discuss the entire home buying process, the length of time it will take to complete each phase, and what it will cost you to purchase.

Image Courtesy of  The Odyssey Online

Buyers are incredibly informed, more so than previous buyers because the internet is a wealth of information. However, there’s not a lot of information out there about the process, time, or cost to purchase. The typical home search in my area is about 3 months. A ratified deal can take as little as 4-5 weeks or as much as 8-10 weeks. It’s going to require a significant investment of your time and energy, not to mention money! Many buyers think they don’t have enough money saved for a down payment and are shocked to learn that a conventional loan (used to be 20%) is now only 3%. Also, there’s still a couple 0% down loans available in the Lewis County area. But’s that’s not all the costs involved. You still have to save for the inspection, appraisal, closing costs, and other miscellaneous fees typical in a contract to purchase. One fee you won’t pay is your Buyer’s Rep commission!

3. How Realtors get paid and why it’s important.

Many buyers don’t want to use an agent to purchase because they don’t want to pay a commission. However, buyer’s don’t pay their Realtor’s commission – the seller pays both! Why wouldn’t you use professional representation if it’s free? So, the commission on a house is set by seller and seller’s broker. Typically, it is split in four between both agent offices and both agents. Nobody gets paid unless the deal gets closed! This is a good system that makes agents work harder and think outside the box to keep deals together, but you could feel pressured to complete the deal as well. This is another reason to meet with your agent first and see if you like them and can trust them. If things start to go south, you want to be confident they’re fighting for you, not their commission.

4. My value to you and why you should work with me instead of other agents.

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I hear this a lot in the agent community said to buyers and sellers: “There’s really no difference between agents, just pick someone you like and get along with.” While you do want to pick someone whom you don’t hate, any agent who tells you there is no difference is a red flag. First, they say there is no difference because they don’t know any better. Second, if they don’t have the ability or confidence to separate themselves from other agents, how hard do you think they are going to fight for you if they don’t fight for themselves. Third, you’re not going to be receiving the best service possible. There is NOBODY providing better service or results than me, and you can take that to the bank – no, literally, you’re going to save thousands with me than with the average agent (and I’ll show you the stats)!

5. Legal disclosures required by Government.

Real estate is becoming more and more regulated, which is both a good and bad thing. I provide you with legal disclosures upfront, allowing you to actually read through them rather than having you sign off on them when writing the offer. Also, I provide you with the Realtor Code of Ethics so you know the rules I adhere to.

6. What does an actual contract look like?

A real estate purchase and sale agreement is multiple pages long, sometimes 30 pages or more. I provide you with the main form where all the meat and potato terms of the deal show up. Of course, I explain everything while making the offer, but it’s always a good thing to be knowledgeable of what’s required. And you’ll be prepared before actually seeing the large stack of papers that you’ll have to sign/date/initial over and over and over again!

7. What’s the next step?

Finally, you’re going to leave the meeting with a game plan of what needs to be done over the next few days and the course of the deal. This is one of the most frequently asked questions I get, “What happens next, where do I go from here.” If you don’t have the consultation, you’re at the whim of your agent who let you in the door after just meeting you at the house!

Image Courtesy of  Next Step Connections

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Hopefully this blog has shed some light and Demystified the Home Buyer Consultation. On the same note, hopefully you see the intrinsic value of meeting with your agent before looking at homes. If you want a glorified gatekeeper, there are plenty of agents ready and willing to take that call. My background is customer service so I do things a little differently. If your agent doesn’t take the time to truly understand your needs and provide Extraordinary Service, how are they going to deliver you Extraordinary Results?

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