New Home Buyer? Beware of this Mistake

After finally finding that "dream home," what buyer isn't tempted to stretch as far as possible -- and drain all available savings -- just to make the numbers work?  It's one of the big homebuyer mistakes.

Often, buyers fall in love with a property, and they try to rationalize the decision. You need to be disciplined about it.

Too often, buyers set a price range and then fall in love with something that costs more. So they figure they'll borrow the difference.

But you need a reserve fund -- something you hold back to address unexpected problems, like the refrigerator that quits in mid-July, or the "like-new" water heater that dies the day after you move in. Or the realization -- after seeing the neighbors sunbathing once too often -- that you need a privacy fence, quickly.

In most homeownership situations, there are going to be some unforeseen circumstances. So you want to make sure you have some funds behind you.

My Agent isn't Showing My Home

Question: I signed a contract to sell my house. My problem is that I have yet to see my agent with anyone at my door. We have other agents showing it. I don’t have a problem with that because we wouldn’t have any showings if it weren’t for them. When I asked my agent why he never showed my house, the response was it is a conflict of interest. Huh? I’m the one who signed the contract. Who are they working for?  

Answer:  Let’s take your concerns step by step. First, there are thousands of agents out there looking for homes for their buyers. So, obviously there is a much greater chance that other agents will show your home more than your agent. Keep in mind that 94 % of the buyers search for homes on the Internet. These buyers, if they are interested in your home, will most likely call their agent (not your agent) to show it to them.                                                                                                                                                               I suggest you review your agents marketing plan to ensure you are visible on all the popular internet home search sites, and that you are happy with the home remarks and pictures.

Second, not sure why your agent feels there is a conflict of interest in showing your home. The goal is to get your home sold. Is it possible he felt uncomfortable with this dual agency situation and had another agent from his office show your home? You need to discuss this with him. It doesn’t make sense that your agent is putting off buyers because of the “conflict of interest.” Your agent does not get paid if your home doesn’t sell.

You are now immersed in one of the biggest changes in your life….selling and moving! Communicate your concerns to your agent. We stress this with our clients. If our clients have a concern, we want to know about it!

Call your agent for a meeting to discuss his marketing plan.                                                  George Bernard Shaw once said: “The single biggest problem with communication, is the illusion that it has taken place.”

It also sounds like you are unhappy with the number of showings on your home. If you are getting a lot of internet views of your home and they are not equating to actual showings, then during this meeting with your agent, you need to review your PRICE!