“You Can’t Win When You Play Dirty.”

Photography by RTW Photography

I recently had a run-in with Homebuyers that left a very sour taste in my mouth, to say the least. While these Buyers were just conniving, I realized some of their behaviors are common missteps within a Real Estate Transaction. I think it’s essential to practice common courtesy daily, but particularly in Real Estate. Here are some of my top tips to help you navigate your Real Estate transaction with grace.

Obtain a Pre-Approval

The Real Estate Market is so hot right now! There were 923,000 homes that sold in the United States in January alone (U.S. Census Bureau and U.S. Department of Housing and Urban Development Statistics). That is up 19.5% from January 2020. I feel that so many people are working from home during this pandemic, and it’s important that they are in a space that can transition from workday to home life.

With that being said, it’s crucial to obtain a mortgage pre-approval  - the process of determining how much money you can borrow to buy a home. To pre-approve you, lenders look at your income, assets, and credit score to determine what loans you could be approved for, how much you can borrow, and what your interest rate might be or Proof of Funds – a document that shows you have cash available to pay for the property in full before asking to see any homes. I am happy to get you connected with a mortgage professional to obtain a preapproval. I personally will have a discovery call with you, set up a search in the MLS for your home preferences, but it’s a complete waste of time to be looking at homes when you’re not in a position to make an offer.  It’s a Seller’s Market - a term commonly applied to the property market when low supply meets high demand. Most sellers are getting multiple offers on their properties, currently going above asking; they will prioritize those with the best price offer or the strongest financing terms.

Be Flexible

I do think that HGTV has done a huge disserve for current homebuyers. I’ve seen people with laundry lists of preferences, and their budgets can’t accommodate. We all want to be in a gated community with at least 2,500 square feet, granite countertops, and possibly a pool, but that comes with a robust price tag. Be open to the suggestions from your REALTOR® and know at the end of the day, I, of course, want to see you in your dream home, but I will always be respectful of your budget.

Be Reasonable

It’s exciting to see a home that you love come into your inbox from the MLS. But it’s unreasonable to expect your Realtor to drop everything and show you home within a few hours. The current practice is at least 24 hours, especially for a home that is occupied.

For these clients, because they were on opposite work schedules, I was showing homes sometimes as early as 8 am on the weekdays. It was like pulling teeth to get the Listing agents to allow access to those homes; some didn’t respond.

Be Patient

The Real Estate market is not for the faint of heart; there are so many involved variables. I truly believe what is meant for you will be for you. As your agent, it’s in my best interest to get your offer approved, and I will work diligently until we are at the closing table.

Don’t Waste My Time

I will say this is the most important part. If you don’t think our relationship is working out, let me know. There are so much time and effort, coordinating with Listing Agents, driving around, pulling Comparative Market Analysis, and writing up offers. You can’t get that time back, nor are you compensated for it.

Can you imagine my surprise to have called these clients when a home within their budget and the ideal neighborhood came on the market, to be told they are currently closing on a home? I’ve been in the Real Estate business since 2012 in some capacity, and I’ve seen a lot, but these client’s audacity still caught me off-guard.

Don’t Lie

Making an offer on a property with another Realtor is egregious enough, but at least own up to it. Real Estate doesn’t have to be cutthroat; this isn’t an episode of Million Dollar Listings.

These particular clients said they found the listing they are closing on via Zillow, which was not the case. The truth is that I sent them this listing along with the comparative market analysis -recently sold properties that are similar to the home for sale; it was further confirmed when I spoke with the Listing Agent.

 Moral of the Story

Residential Sales are commission-based; I don’t make money until the transaction closed. At the same time, some transactions don’t close because of circumstances beyond your control.

In moving forward, I will be utilizing a Buyer’s Broker Agreement - A buyer brokerage agreement is a contract that establishes a business relationship between the buyer and the REALTOR®.

Also, in thinking back, when they mentioned another Realtor who specialized in their type of loan, which was also offering assistance towards the closing cost (She happened to work for the lender), that should have been my indicator of their motives. I have found when clients are unscrupulous, most times; it boils down to money. If you’re willing to cut me out of a deal to save some pennies, you can’t afford me. My commission isn’t negotiable.

At the end of the day, arguably the best Real Housewife ever, Nene Leakes said, “You can’t win when you play dirty,” bloop!