More Q & A From Windsor Real Estate

Posted in Buyer Blog | 01/06/2013

Windsor Real Estate

Windsor Real Estate

As a Windsor real estate agent, I get lots of excellent questions about buying and selling homes.  Many clients just want some simple direction, while others are completely unsure about the whole process.  Any good real estate agent will take the time to answer any questions or concerns that you may have.  Never think that any question is silly because chances are, we have been asked it many times before.  For anyone who is looking to sell or buy a home, you need to be guided by a professional that has been in the real estate industry for some time.  We have seen it all and know how to respond to any sudden roadblocks.  So here are some questions that I have been asked recently, that I thought I would share.  And if you have any that you would like answered, please let me know.

Question:

Why should I interview three real estate agents?  My cousin who works in real estate part-time said he could sell my house quick!

Answer:

This is a very common question but one that all real estate agents can agree:  interview the top three full-time real estate agents that have been recommended to you or that you know have excellent reputations.  Why?  Because real estate agents work differently and you want to make sure that the agent you hire can work well with your home and understands your needs.  Hiring a family member or friend that doesn’t have lots experience, is like using a doctor that works on the side.  You only want the very best when it comes time to sell your house so you can get the most money you can.  If you become unhappy with your cousin’s service or work ethic, you may put a strain on your relationship.

Question:

I’m a first time buyer, but I have no clue what type of home I want.

Answer:

We often have buyers come to us with this question.  They know they want to purchase a home, but unsure if they should buy something that fits their needs now, or a home that they can use for many years.  Buyers are changing, as many are now looking to buy for the long-term as opposed to before the real estate crisis hit in 2006, when buyers would purchase a property only to turn around and sell a few years later for a bigger home.  But I always ask my clients this:  What is it that you absolutely must have in a home?  What is nonnegotiable? Maybe it’s the number of bedrooms or perhaps it’s close to work or in a certain neighbourhood.  Once we have this list, then it’s my job to take them around and narrow down the choices.  Some clients have decided that they want a condo while others like living on some land.  Regardless, once a list is made, it makes the search easier.

Question:

Are real estate commissions negotiable?

Answer:

In one word:  yes.  But it is important to talk to your agent to determine if they are willing.  And remember, you can always negotiate fees throughout the selling process. This is an important conversation to have when interviewing your three real estate agents.

Question:

images-6I need to sell my house in a hurry!  What do I need to do?  I have a limited budget for repairs!

Answer:

If you need to sell your house in a hurry, then you need to make sure it is priced aggressively.  Now is not the time to over price your home because you simply won’t get the traffic.  Real estate agents don’t waste their client’s time showing homes that are priced out of the ball park.  Consider pricing your home five percent below the value and I guarantee you, that if your home is in a good location and in fairly good shape, you will have lots of buyers making appointments to see your home.  Buyers are looking for homes in good conditions that are priced fairly.  Also, if your home needs repairs or updating, then make what you can afford.  Walk around your property with your agent and get his or her opinion on what makes a difference with buyers and what doesn’t.  If you have a kitchen that needs updating, you don’t need to remodel it, but you would be surprised what a can of paint or even some new hardware on the cabinets can do.

Question:

I presented what my agent and I thought was a fair offer for a home.  The seller countered with the full asking price.  The home just went on the market, do you think he is waiting for a better offer?

Answer:

Probably yes.  But he didn’t do himself any favors by countering with the full price if your offer was fair and reasonable.  I strongly urge my clients to consider each and every offer unless it’s so low that it borders on ridiculous.  Sellers who receive offers soon after they put their homes on the market often wait to see if they will get a better offer.  And what’s interesting, is that usually, they don’t.  If you still like the house, then you can always make another offer, or you can take your chances and wait to see if the home is still on the market in another month and try again.

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