You’ve Found “The Home.” Now What?


The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?


The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.


Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.


But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.


A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.


If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.


It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.


All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.


A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.


If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.


It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.


Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.


Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

Is Your House Not Selling? Here are the Possible Reasons Why

Selling a home is no easy feat. There are many aspects of real estate listings that need to be carefully thought out and planned to ensure that the sale eventually pushes through. There are, however, instances where homes take an exceptionally long time to be sold. If the housing market is particularly hot, not being able to sell your real estate property right away may attract the wrong kind of attention.


The good news is that there is usually a reasonable explanation as to why houses are not selling. Being able to get past this hurdle involves trying to find out the reason behind why people seemingly are not taking interest in the property. This blog post will help shed some light as to these common reasons and how to finally put that "sold" sign on the front lawn of your property.

Why Is Your House Not Selling? Here Are Possible Reasons Why

If you are wondering why you may not have gotten as many responses for your real estate listing as you had originally hoped, the problem is rarely with the home itself (although it can be a factor!), but rather with the listing that you put out to advertise the property. Here are a few things that may have gone wrong with your listing and how to improve them.

1) The Listing Price is Too High

Many times, sellers advertise a listing with a price that is simply too high. While it may be true that your home is priceless, buyers may just see it as overvalued. To get an accurate listing price, start by looking at the current market as well as the location of your property. Having a professional assessment carried out is always the best way to determine a realistic price.

2) Photos That Don’t Look Good

Listings that do not attract as much attention may also be caused by the photos that are included in the listing. It is important to make sure that the photos are staged well and have a professional feel to them.

3) Unfavorable Market Conditions

If the market for house sales is not in a good position, it may not be a good time to sell, either. The current market conditions may have an adverse effect on if you are trying to sell your home.

4) Failing to Work with a Professional

Real estate professionals will be able to recommend available houses to potential buyers. Working with a professional will help get your home sold by having it viewed by people who may want to invest in properties in your area.

Conclusion

If your real estate listing has been on the market for a long time without much leads and prospective buyers messaging you with the intent to buy (or at least schedule a viewing of) your property, you can count on it that there may be something amiss with your listing.


Don’t give up, especially if you are set on selling your current home. The key is to find a real estate broker that can help you with the sale. These professionals have a lot of experience under their belt. They can use this information to help you better your real estate listing and finally get those offers you have been waiting for.


Chris Low’s real estate agents have been dealing with these types of listings and can help you narrow down on the possible reasons why your house isn’t selling. We can help you buy or sell homes quickly and conveniently. Let us take charge of your listing and get your property sold today!

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