Home Sellers' Challenges 2021
Everyone is talking about the crazy seller's market and the struggles buyers are having, but no one is talking about the struggle sellers are having in this market. If you are thinking of putting your house on the market, you definitely need to consider these five things the sellers are having the struggles during their sales process. Number one picking the wrong realtor picking the right realtor is very, very important because due to Covid, a lot of other industries, they either partially closed down are they fully closed down. So a lot of people they're interested in real estate and they're getting into real estate. Now you need to hire the realtor who has the best interest about your goal, your family's interests, not just what's happening out there because you're going to sell your home, you have a plan, make sure you have the right relative agent who is going to guide you, help you achieve those goals.
Don't just hire realtors highly Realtor are preferably a team like we have who are exporting negotiation, who has a marketing strategy, who has follow up strategy and they will make your life easy and they'll get to the highest on the best price on top of that number two. Now you have multiple offers on the table. What if out of all the offers, you pick the wrong one? What happens after a couple of weeks, a few weeks after that deal fell through and you have to start back again home showing during this Covid time and I say that it is easy to show the home when you're living there. So picking up the right offer again an experienced realtor will help you, they will connect with the lender, they will connect with the you know the bible, check all the details of the offer, only the highest price offer price is not the best offer.
There are so many other aspects, you know, so many different points in the offer a lot of time. The buyers, what they're doing to kill the competition right now they're offering very high but then they're putting some other clauses where they don't have to pay their place. They may have to pay the president, they have to pay you know some some other other other value. Now not the purchase price. So be very careful picking up the right offer Because multiple offers does not mean that you're picking the right one. So that's very very important. And also you need to make sure the buyer is well qualified. You know, checking with different numbers with the lender, we met multiple calls to the lender before we accept an offer and number three the negotiation after the inspection as you can imagine that the buyers are paying a high price.
So there will be tough negotiations after getting the contract, whatever they can get. I saw a lot of time the same home, two different via came up with two different kind of kind of negotiation negotiated you know, contribution, a self contribution afternoon after inspection negotiation you no one has so much money and they show so many things around then when the contract cancel and then get a new contract the other via the inspector will be much easier. So be very careful with the negotiation after the inspector again and experienced realtor real time with the proper knowledge of the home of the market will do the right negotiation for you and not just give out your money you know some some inspection report. Sometimes it doesn't even make sense. So that's one of the important things: the negotiation after the inspection number four The big one is the appraisal problem.
What's happening? Because in some markets the prices are going so high the lenders are getting a little bit conservative and then the oppressors also. So we saw some homes where they are placed At least 10-15% apart. You know with the two different presidents of the value. So a lot of time you know we as an experienced real estate agent What do we do? We connect with the appraiser because we are representing our seller. So you know we have to get the highest and best press to our seller. So what do we do? We we give a lot of supportive documents supportive comparables you know sometimes that some of the cells they're not even the analysts, you know we we go to tax record or some other resources pick up those cells and then you know, check with the appraiser, you know, to get the highest on the best price.
So appraisal is a huge problem right now.. Just be very careful because you can lose a lot of money because of the wrong appraisal. There is a president who doesn't support your value and the price And # five is that transition to your new home? Either you are buying another home or you are going to rent something for time being, whatever your situation is, especially if you're buying something and renting something on the contract, the realtor should put a clause that it is subject to for you to find that home, our, our security contract or maybe you need a post occupancy a lot of time. This inexperienced realtor, they're too busy to sell your home and make their commission probably and they do not shake those a little important things, you know, to find things what we need to put it in the contract to make you and your family safe because you don't want to sell your home and then there's nowhere to go.
I heard many stories, you know, the other day, one lady called me . She wanted to buy a home and she sold her condo with the realtor and knew how to go. She's living with her friend right now. So be very careful with the transition. Your real estate agent should ask you a lot of questions about your transition about your plan before even they put your house on the market. Doesn't matter how crazy the market is, It doesn't matter. It is your family you know, your plan, your goal about this property So that is the most important thing. So These are the five struggles these days the sellers are having. So if you have any questions, give me a call. My number is right here. I'll be glad to discuss a lot of different things with you. We have been doing business in south Florida real estate for over two decades.
So we can definitely help you.