Buying a House: Just Like Getting Married, It’s All In The Prep

Here’s the skinny on buying a house in today’s market. It’s not neurosurgery though to purchase a home right now takes a lot of preparation. Kind of like a finding the right partner for a successful marriage. Stay with me.

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There are 3 stages to the home buying process:

  1. Finding a home.
  2. Negotiating the contract.
  3. Get through the escrow process

Just as there are 3 stages to getting married: 

  1. Find a partner.
  2. Negotiate the relationship.
  3. Get married. 

Get Qualified

Talk to a lender. Talk to a few lenders. Find out what programs are available for your specific needs.  Talk to your partner. How qualified is that partner for your specific needs? Your offer is much more likely to be seriously considered by a seller if you’ve done your due diligence and proper homework completed before even beginning the search. Have that pre-qualified letter handy. Email to your agent, in fact. They’ll keep it in their file for you, usually good for 3 months.  And might even want to write a personal letter to the seller too, reasons why you’d be the perfect buyer. Sellers like knowing a prospective buyer is human.

Interview Agents

Not all agents are from the same ilk. Again, kinda like finding the right partner. Some bond easier than others. You think you’ll marry the first one who asks you out? Perhaps. For the Realtor, ask a lot of questions. Don’t skimp. Ask why he is the best agent for your particular needs? How well does he know the hood? What will he do during the process of a search other agents may or may not do? How does the agent feel about where she hangs her license? Is she ‘eh’ about her company or stand by and share their philosophy? What is an agent’s philosophy? Why is the sky blue and what does it take to get a returned phone call response to my voicemail? Things like that.

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Unlike preparing for marriage, the term timely manner is at one’s discretion. Since this website sticks to matters of real estate, we’ll save a marriage blog post elsewhere.  For a real estate transaction today, motivation to get paperwork done in a timely manner remains paramount to getting an offer accepted. Depending on how motivated a buyer is, get all that fun paperwork done before your search. Have it ready in hand or online, give to your agent of choice and feel the anticipation of a possible acceptance. Maybe, just maybe, the seller will say YES. 

Service Among Us Realtors

So began my day at preview. Real estate previews are pretty cool.  Who doesn’t like looking at houses? I suppose it depends on what neighborhood one previews. In my hood, here in northern part of Orange County, CA sit neighborhoods, their own distinct character and flair. From high-priced sprawling ranch houses to the more moderate suburban residence , the variation of architecture as diverse as its sellers. In any case, I enjoy the variety of the neighborhoods I work in.  Today I saw some incredibly beautiful houses; some beautiful simply by sheer aesthetics of columns, others, embraced by warmth and stained glass windows. Affluence is something I’m just beginning to take notice of in my business as I currently have a listing priced at $1,485,000, most expensive one yet.  IMG_0665

A conversation took place while driving the neighborhood. In between home tours the subject of leases came up, specifically the amount of work leases require for less money than regular sales. Compensation for doing a lease is usually based on a flat fee versus a percentage from a sale. Depending on each transaction, a lease  might produce as little as a hundred bucks, five hundred or somewhere in between.  From a strictly economical point of view, representing a client with a sale versus a lease is far more beneficial to the agent. But what about the client? Two successful agents complained about doing a few leases they’d done over the last year. They’re busy, busy, busy. Leases are a bother, a nuisance for many top producers.  Listening to their dialogue, I asked myself would I be so busy as to wave aside a low paying lease? Would I be as annoyed with a measly hundred bucks when surely I would make more with a sale? Even if annoyed, what would my client think if they suspected I thought this way?

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To be clear, I am not a top producing real estate agent. I’ve never been part of any Golden Club or won a trip to Hawaii based on my sales track record. Nor is my name embossed on a wall for “Salesperson of the Immediate Future.” I think those kinds of goals are ALL worth attaining and I have the utmost respect for fellow agents who pride themselves as such.  My business acumen is based on one-on-one service rather than sheer volume.

I’m a Realtor. I like making money. This is my career, my livelihood. Someone’s gotta pay for those extra useless television channels. When I work with my clients, I am at their service. It is an honor to be trusted and relied upon for the service I give. Not all will bond with me nor I with them. When that happens (and it has, always will) I’ve learned the skill to thank them, wish them the very best in their real estate endeavors and walk away. Most times, clients understand the service I provide merely by demonstration. Making $5000k versus $500, pretty much a no brainer.  What must be questioned is why that client chose us in the first place. If one ever finds me complaining about the next $100 made on a lease, I’ll treat them to a trip to Target with that money. That’ll probably cover a few t-shirts, beach towels, cleaning supplies, a neon green sports bra with matching leggings and some fancy chocolate candy bars.  Not bad for making someone happy about where they live.