The upper echelon of real estate agents (maybe 10 percent of us) really try to price it right, but there are times when the seller pushes back and wants and says, “honestly” my home is of much higher value and worth much more than the offers we are receiving; and then it sits on the market waiting for that rare buyer who will throw whatever money they have available to purchase, because they don’t want the home, they absolutely “need it.”
But, that’s an aberration even in this crazy hot market and is not really always the “norm” anymore on the high-end properties and for the most part, those days are gone! Just look at the high-end homes here and in New York City (where we do business), they are sitting and languishing and not moving (new homes are taking a year or more, if not priced correctly!).
What I have seen and experienced is that the specific “needs and wants” of the buyers have morphed into something that I haven’t previoulsy experienced before.
Certain cultures that were buying single-family homes are now purchasing HOA’s, and some who were purchasing HOA’s are now buying condos, and lastly, those who were purchasing Condos are now considering co-ops due to the ever-escalating prices.
Those that were trying to purchase homes, but due to still very low inventory and not finding what they need and want; are now buying one of those other types of properties, due to the changing tastes and attitudes and affordability for the purchasers; and most important, higher prices and costs of financing and, oh yeh, that wonderful, hated and despised, maximum and allowable $10,000 state and local tax deductions (S.A.L.T.).
I know there is one homeowner, in Sands Point, whose taxes went from $81,000 and will be going $120,000 per year; but I imagine he will make every effort to grieve them. Whether he can afford it or not, it’s the principle of that increase, even phased in over 3-5 years! I say good luck to him!
So, sellers, investors, purchasers and tenants try to be upfront, candid and have a reality check, with what you are saying, doing and trying to accomplish when selling or searching with your brokers and agents.
Likewise, agents, try to use the words, “to be perfectly upfront and candid with your client sellers, customer purchasers, investors and even potential future tenants; since you never know at what point they might turn into buyers! Just stop using the words, perfectly honest or honestly or perfectly truthful, since my antennae go up and I hate those words, because then I might think you are lying to me or not as truthful as I am to you!
Lastly, we think you are telling us the truth without saying those unnecessary words and we want you to be upfront and candid with us, that’s all we want.
Oh yeh, and be realistic with your “needs and wants” as a seller and as a buyer; being qualified and prepared, not like a Monday morning quarterback (with a lenders letter or proof of funds on Thursday or Friday), with income, credit scores and debt/income ratios, so we can help you to find your next “place to call home” so you don’t lose that one property that you really “fell in love with” but you weren’t prepared to step up to the plate and swing for the bleachers!
Some of us really want to assist and help you in finding you that special home, even if it’s a starter one or your “ Dream Home” but be transparent and be upfront with those that are really making every attempt in doing our best to do the necessary research to find you what you need and want; but let’s avoid the game playing and the switch and bait tactics that some agents play or some purchasers use and abuse us, with an “emergency has come up or we have to cancel our apt, always at the last minute, when we have already done all the preparation for their showings, ugh; when they have already found a place and can’t be upfront with us and tell us the truth!
Maybe some of us are trying to build rapport and long term relationships and some sellers, investors, purchasers and even tenants recognize this, so be kind and also be straight up with the 10% of us Brokers and agents, that are really trying to do their best for you. Remember, we do not get a salary, but do earn a commission and for the three to five or more showings per customer that we do and don’t earn a fee, we savor that sale that we do make and earn a commission that pays us back for all the non-productive showings that we do perform.
Lastly, when we ask for a testimonial, be kind to those that get it done and make the time and effort to provide one to us! Most are glorified taxi cab drivers, just chauffering you around; however, then there are those 10 percent of us realtors who perform every day on a professional, credible, transparent and honest playing field (oh boy I used the word that I despise); providing a valued service for and to you.
We only ask for your respect and consideration for those that earn and deserve it!
That’s not asking too much, is it? Let me know your thoughts?
Philp A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 Great Neck NY 11021-2415. He has earned designations as a Graduate of the Realtor Institute and a Certified International Property Specialist. Receive regular “FREE” updates of sold homes in your area and what your home would sell for in today’s market or search on: WWW.Li-RealEstate.Com