It’s official. September 1 has arrived. Summer is coming to a close, which means it’s back to work for most of us, but who doesn’t like September? It’s one of the favorites among all of the months. September, like April, brings new beginnings for a lot of people. For many people, this new beginning involves real estate – selling or buying a home.
I wanted to share a tip with you today that is going to make your real estate journey a lot easier. It’s applicable to both buyers and sellers. Buyers and sellers have different goals, for sure, but at the end of the day, they have only one common overall objective. That objective is to have a smooth real estate transaction.
As a buyer, it’s not abnormal to want to find the hottest deal, right away, with exactly what you want. Every buyer wants that.
As a seller, it’s not abnormal to want to put your home on the market and get tons of offers at top dollar. Every seller wants that.
Are these desires completely normal? Yes, absolutely. They’re optimistic. Everyone should be optimistic going into the real estate market.
I started selling homes over 20 years ago. I’ve seen a lot of real estate transactions. The tip I think is most important for everyone right now is to stay realistic about the 2017 real estate market. You won’t necessarily go out and find smoking gun deals when buying real estate at the moment. Things have changed. And as for selling, you’re not likely going to be receiving numerous top dollar offers on your home like you would have in 2015.
Being successful requires an interesting balance between optimism and reality. You need both!
As your Realtor, my job is to bring reality and optimism to the transaction so that you find what you want (if you’re buying) and sell for what you want (if you’re selling). Those goals might need a little tweaking in order to create a transaction.
Here are four ways to stay realistic about your real estate goals.
Markets, and even more specifically, the neighborhood, city, etc. tell us what we need to know about buying and selling real estate. Market data tells us how long homes are likely to hang around before a transaction takes place. And market data tells us what homes are listed for and how much they sell for (two different things). This information is important for buyers and sellers alike.
Real estate professionals rely on market data to help us understand our options. We make data-driven decisions, not emotional ones. The problem is that selling and buying homes is, in fact, emotional. We’ve all been there! It’s tough, sometimes. But together, we can look at our options realistically and come up with a great plan.
This one is specifically for sellers. Sellers – in this kind of market, you cannot sit back and do nothing to your home and still hope it sells quickly and for top dollar. You may need to make certain changes to help it sell faster and for more money. Certain features may need a deep clean, replacement, or upgrade. Or, you may need to pack up more than you thought, to give potential buyers a better feel for your home. Whatever it is, just keep an open mind. The more willing you are to make changes to accommodate a sale, the better positioned you’ll be going into it.
It feels really good to go out looking for homes. It’s one of my favorite things to do with buyers. However, there’s a catch. Avoid indulging yourselves by driving through neighborhoods full of homes you cannot afford. Consider the psychological effect. What happens is that those homes – the ones way out of your budget – become the standard in your mind. Then, when you start to look at homes you can afford, they seem less than standard or less than ideal. Instead of torturing yourself or creating a painful process, work with a Realtor who will help you stay within your budget. You can absolutely find something that’s move in ready, clean, reliable, beautiful, desirable, and affordable.
Not all homes will stay on the market for several weeks, and not all buyers will have to wait a couple of months for an ideal home to come up. But some will. So, the only ask here is that you consider the possibility of the deal taking longer time than you thought. That means that you have to be realistic about what that means for your life. You may need to start looking for a Calgary home now – instead of four months from now – if you’re planning to buy in the next six months. And if you’re selling, you may need to make that small home improvement that you were debating, because it could be the difference in selling for top dollar and selling for much less than that.
I hope this tip helps! I am here to answer any questions you might have. Find me on Facebook for frequent tips and listing updates, or subscribe to my monthly newsletter for market reports and insider information about real estate in Calgary.