You’ve scoured Zillow and Redfin and have found the perfect property. It’s time to get serious about buying. You found a great agent and are ready to get moving.
3 Things Buyers Do That Real Estate Agents Can’t Stand in NJ
So read up and don’t do them! Keep your agent happy.
1. Not Ready To Buy
You might think you are ready to buy; however, this might be a figment of your imagination. Being ready to buy means you are pre-approved for a loan, shop within your price range and are ready to make an offer on a home when the market is moving quickly.
A pre-approval means you have not just talked to a lender who gives you a ballpark figure, but you have also gone through the actual underwriting process with credit and income checks. You know what you can afford and can pull the funding trigger based on the final home price and appraisal.
Once you have this, shopping within your price point is imperative. If your real estate agent feels there is a higher priced home that can be negotiated down, he will present it to you. But consistently shopping homes over your price range is unrealistic.
When you find a home you love, be ready to make an offer. Sitting on the fence in most real estate markets means you will lose the opportunity. Looking at a home 7 times without making an offer means you might not be ready to buy. Something is holding you back and you’re wasting your agent’s time.
2. Taking Advantage of Time
Of course, looking at a home multiple times without making an offer is one way buyers waste a real estate agent’s time. Agents work on commission and their time is important.
There are other ways that buyers step over the boundaries of time and respect for agents. Expecting your real estate agent to be available at 11 PM when you happen upon a listing online is unrealistic. You may not be able to see a particular home at a particular time because either the sellers are unable to schedule it or your agent has another conflicting appointment.
While this may be the most important thing in your life at this moment, you are not the only thing in your agent’s life. They are there to help you through the process and give you exceptional service through it, but they are not at your beck-and-call.
3. Ignoring Seller As Part of the Process
Buying a home is a two-way contract. As the buyer, you have wants and needs. So does the seller. You need to respect this. Real estate agents can’t help you if you walk through a home and are overly critical over the house and expect it to be made perfect by the time escrow closes.
When walking through a home, don’t assume you are alone. If you make negative comments about the décor or style and the homeowner hears it, they might be offended and less likely to negotiate. If you absolutely love the house, the seller might not give you concessions because they know you’re in love with the home and want it, at any expense. Wait until you get back into your car to discuss the positives and the negatives of the house. You don’t want to reveal your negotiating hand before you need to.
Sellers are looking to make a specific dollar amount and often want to close by a specific time. Sellers might not want to make repairs or give concessions on every last detail. You might not get any repairs after inspections but may get an offer for credits during the escrow closing.
Work with your real estate agent in West Orange to keep your purchase options open, develop a negotiation plan and follow the sage advice given to you. Your agent is on your side; trust them to do their job.