insideyournwa.com

In today’s real estate climate many people who are buying, selling, or considering either are getting frustrated.  Houses are sitting on the market longer and sellers are starting to get spooked by how many contracts are falling through.

First let’s look at frustrations from the buyer’s point of view and how to fix it.  It is tough to be a consumer these days.  Let’s face it everything is more complicated every time we tear off another day from the calender.  The new year has come and Northwest Arkansas is changing rapidly.  Even if you have bought a house before you will not be familiar with the contracts because they change every year.

The biggest frustration that I see right now however is that there are so many houses to choose from how do I pick the one.  It is very true that we have a great supply of houses sitting and many of the builders are willing to make some great deals for you making your choice that much more complicated.  That being said you still must think of the factors you always consider when choosing a house.  As we have posted and talked about many times before location is one of the most important things you can look at.  Are you near work, school, family, friends, etc?  Price is always a factor, and resale value is something to consider if you are not planning on staying for a long time.

So how do we cut down the frustration?  As a buyer you really need a skilled Realtor that can narrow the choices for you.  A good buyer’s representative tours houses on a daily basis and can get a great feel for what you want.  They can also negotiate a fair price and figure out which property to negotiate over and which to simply buy.  We have a unique opportunity buying houses because unlike any other profession you can afford the best because you don’t pay …  the seller has committed to pay.  Now am I trying to talk you into a Realtor so I can make more money?  No, but remember if you could get the best attorney to represent you for free why wouldn’t you call them?  And yes I am saying that Shea and I are the best.

There is a ton more that I could go into for buyer frustrations but please just email me radio@insideyournwa.com if you have other questions.  Now for the sellers.

Sellers have a different situation.  They can’t get the best for free, but they can get the best at a competitive price.  When you look at the commission that you pay, you need to see what service you will get for it.  Don’t pay me if all I can do is put a sign in your yard and wait.  That worked in ‘03 through ‘05 but will not work in ‘07 I guarantee. 

Lots of things frustrate buyers but the most frustrating factor is “my house hasn’t sold and doesn’t have any showings.”  If I had a dollar for every time Shea or I have said what I am about to write I wouldn’t have to sell real estate any more because I would be rich.  When you list your house you must have something different to put your house in a position to sell.  Check out the absorption rates (and what that means) by clicking here.  After you know that you must find out what can get you to the head of the line.  Does your house have bad curb appeal?  Meaning from the street will people want to go in?  Is your house missing something that all of the houses in your price range have?  Is your house the best value?

You don’t know?  How can you tell me you have listed your house and your Realtor hasn’t taken you to the competition?  Do you think that Wal Mart shops at Target?  Do you think that Best Buy shops at Circuit City?  Do you get my point yet?  You have to shop your competition to find out what they are doing.

You may think that these are different things but they really are not.  You are trying to sell a very expensive item in the open market place.  Treat it that way and make sure your Realtor does the same.  Get into your Realtor’s car and look at every house you are competing with and develop a strategy to sell your house before your competitors.  Price is not the only factor, just the one that people talk about the most.

It all comes down to this:  If you are frustrated while trying to buy or sell, knowledge is key.  People are scared and frustrated by the unknown.  A good Realtor will be able to stop your fears and frustrations by providing you what you need to know.

And don’t forget when you need to know, you need to go to insideyournwa.com!