Ask the Expert: Experts Say What Buyers Should Know
August 1st, 2013 | by The Update
The real estate world is moving quickly and changing rapidly. With low inventory and rising prices it’s important to understand the mindset of today’s sellers.
Experts from Briggs Freeman Sotheby’s International Realty tell what buyers should know about today’s sellers?
“Today’s sellers probably aren’t going to negotiate a great deal if they have a great product. Our sellers have been very in tune with proper pricing, so they are going to price a home realistically and not entertain low offers. They are going to expect an offer at or above asking in nearly every situation. Buyers should know to put their best foot forward on that first offer.”
“The seller of a well-priced home that receives multiple offers may not be willing to do a lot of repairs requested by the buyer. If the seller prepares the house well and it is obvious the house has been well maintained, the buyer should be judicious in their request. However, if there are obvious issues with the home, the buyer should expect the seller to address them.”
“Sellers are smart, and they know timing is everything. They’re pricing properties to sell quickly so they can make a decision on their next home. But they’re not under pressure to sell, and buyers should understand that when making an offer. It’s really the give and take of a healthy market. We are fortunate to live in one of the fastest-growing metropolitan areas in the country.”
“When multiple offers come in at or above asking price, sellers are paying closer attention to all the terms of the offer, not just price. The seller appreciates as much flexibility as the buyer can give – and we’re seeing that make or break a deal in many cases.”
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Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homes, ranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.