Because we hold so many open houses, we see the same potential buyers over and over. They often tell me their struggles and frustrations about their home buying process.
Many of these struggles and frustrations are self-inflicted due to how they choose their Realtor. Buyers often think all Realtors are the same. As a result, when buying a home they will work with their friend (everyone has a friend in real estate) or hire an agent based on which agent gives you the largest rebate.
Especially in a low inventory real estate market like ours this is a huge mistake because you are not getting the most important things you need from a Realtor which are perspective and advice.
The average Realtor only sells about 1-2 homes per year. As a result, they are not going to be experts at pricing, floor plans or what drives market value in the area where you want to buy a home. This causes buyers to often overpay for a home but I will set that aside for another time.
What I saw this weekend was regret from many buyers. We had an open house for a new listing. This home is similar to another home we had listed that went under contract last week. However, there are some special things about the home that went under contract that are difficult to find. In fact, we haven’t seen that floor plan come on the market in years.
Buyers who are searching for homes on their own or are working with an agent without experience in the neighborhood would never know that. One mistake buyers make is they think if they see a home they like there will be another one that comes on the market just like it very soon. In reality buying a home isn’t like waiting at the bus stop and if you miss the bus another one will come along in 10 minutes. The time to buy a home you like is when it is for sale.
Several buyers who came to the open house for that home stopped by this weekend. When they saw the home that is currently for sale, they realized they made a mistake and should have bought the home that’s already under contract. A week ago, they didn’t have anything to compare that home to but now that they have seen another home with a similar price they realize their mistake.
What would have prevented this mistake is if you work with a Realtor who can give you advice and perspective. An experienced Realtor will be able to explain the unique features of the home that make it special. An experienced Realtor can explain if you miss out on a great home you may never get a chance to buy it again.
With our advice and perspective we help buyers make great real estate decisions in Austin and the surrounding cities of Cedar Park, Leander, Georgetown, Round Rock and Pflugerville. Whenever you are ready to buy a special home, call me directly at 512-791-7473 or email email@example.com.
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