Real Estate Experts

In the Real estate industry just like a lot of other industries some people can become a Real Estate expert just by proclaiming that they are the expert. Their opinion will apply to every situation because they are the expert.

A few months back I saw a printed ad from an expert that shouted “We are at the bottom, it is a great time for buyers” now is this fact or an opinion. In my opinion it would have to be an opinion since we are still seeing more price reductions than new listings. As always some properties are priced at the bottom and some properties are not there. Some of these properties will never be at the bottom. Now the bottom is some line in the sand that some expert will tell me when we get there. I can give you a pretty accurate market value but that figure is still missing a critical input.

Listening

The missing critical input is of course the buyer or seller’s motivation and needs.

Listening is one of the lost arts in America today. Some experts are capable of hearing their own voices but not the sound of what is coming back. They sometimes miss the critical input. The reasons for buying are always different for each buyer, the reasons for selling is always different for all sellers.

If you are retiring and you know what area you want to retire to and what you desire in a property then you are not as concerned with the price as someone who is only planning on residing in the property for a few years and then moving up. If you are concerned with what school you want your kids to attend and are willing to relocate to achieve this then the price may not be the ultimate factor to base your decision on whether to buy or not to buy the property. If you have a 2 year job commitment then price should be very important to you and your agent.

Some sellers are in a very good position still today in what they paid for their home and what the market value is today. There are some sellers who are stressed to the max on the amount of their mortgage due to adjustable rates, no interest loans due or change in their income, these sellers need immediate help with their situation and could account for short sale or foreclosure. Some sellers are at a mindset that they will not consider a short sale or foreclosure because they signed their name to the mortgage; these sellers need the experts to tell them truthfully if they can sell without bringing non-existent money to the table at closing.

The big difference is listening to each and every person as a person who has their own needs and motivation.

“Are those turnips on the side of your head?”

Thank you

Jim Bagwell