Friday, October 19, 2018

When buyers and sellers meet


By Nicole Foster

In Maine the majority of listed, already existing, residential single- family home transaction closings are attended by both the buyers and sellers, who will not typically meet face to face prior to reaching the closing table (unless one party is signing in advance or remotely, so they may never actually meet). Buyers and sellers have adverse interests so one of the primary reasons that they have hired a Realtor® instead of just buying or selling property themselves is to have that added protection of a buffer or intermediary so they do not need to take on the added risks and unintended consequences associated with direct negotiations and communications.

It is customary for the seller of a listed property to leave during the showings with prospective buyers and their buyer agents as well as during the buyer’s building inspections. Buyers often feel more relaxed about providing feedback and comfortable asking questions when the sellers are not present (buyers should always assume the increasing likelihood of seller surveillance devices when inside a property).

There are instances, however, where a seller may not be willing or able to leave and buyers and their agents may or may not be made aware prior to their arrival and are surprised as a result. For some sellers, it is the only way that they can do this hard thing and do not intend to undermine the process while others have different motives for lingering. Sometimes a seller has been scrambling to finalize the tidying up or pet removal for a showing and happens to be in the driveway leaving while the buyers are pulling into the driveway and they meet accidentally, or the buyers may just “happen” to stop by and speak with them while they are doing yardwork or holding a yard sale.

Regardless of the timing or frequency of your meetings, it is beneficial to keep the focus on cultivating a positive exchange.  Keep ideas for improvement and renovation to both property and landscaping or yard to yourself. A seemingly harmless idea could possibly be sending the message to the seller that you do not like what they have done, or your plans may be removing something of sentimental weight leaving the seller feeling uneasy. Instead of sharing your vision, try to focus on telling the seller what you absolutely love about the property – the location, yard, style or features of the home and compliment what you do enjoy about it.

Try not to elaborate on how you spent “tons of money” on X, Y or Z. A buyer doesn’t care how much you personally chose to spend on something and may wonder if your overall valuation is inflated as a result of such comments.

Don’t feel obligated to answer questions on the spot. If you are faced with a surprised meeting and are feeling ambushed with questions as either a buyer or seller who already has agency representation it is appropriate for you to smile and nod and agree to discuss at some point, but you do not need to feel pressured to discuss on the spot without your agent or time to consider your response.

The sale of a property can be particularly intricate when the purchase of one is contingent upon the sale of another, so it is important to maintain well documented conversations throughout the entire process.  Working directly with your Realtor® to help with both the negotiations and communications can reduce your risks as either a buyer or a seller.

Nicole Foster is a real estate Broker at Locations Real Estate Group who resides in Windham 207-615-7558 nicole@locationsinmaine.com







Saturday, October 13, 2018

Why the holiday season may just be the right season to sell


By Lisa DiBiase

If you're ready to sell your house, you don't have to wait. Selling during the holidays doesn’t have to be a disaster. Even though there are less homes on the market, buyers are out there buying at a steady pace. You may be surprised that there are advantages to selling your home over the holiday season.

There are no seasons online.

Traditional home buying and selling has evolved with the internet. While spring is still the hottest home-buying season, serious home buyers are always on the lookout. Instant and constant internet access means buyers are always checking out the latest listings. Today’s buyers do the bulk of their home searches online which is why it's critical to have a professional online presence, especially when it comes to photos.

Less competition.

Come spring, sellers will flood the market and your home will be just another fish in a great big pond. But right now, you’ve practically got the market to yourself. Home inventory usually falls from November to December. That means less competition on the market if you list your home during that time! Buyers have fewer homes to choose from, which means you could sell your house faster.

Serious buyers.

If a buyer is trudging around in freezing weather to look at your home, they are serious. People also tend to start their home search several months prior to when they plan to purchase. Many winter buyers may also be working against a deadline, whether it’s an expiring lease, relocation, or a contract on their current home.

Tax Incentives before year-end.

Winter home buyers may also be motivated to capture the tax benefits of buying a home before year-end. Home buyers can write off some of the expenses of their home purchase on their taxes. There are usually multiple tax benefits of owning a home that can be taken advantage of.

Time Off.
You may think people are less likely to see your home during their hectic holiday schedules. That can be true, but keep in mind most people have more time off around the holidays. That means more time for browsing their favorite home apps, dreaming about their future decor, and even scheduling home showings.

Are You Ready to Sell?
With all these advantages on your side, hopefully selling your home in the winter won’t feel so daunting. Make sure you work with an experienced real estate agent to get your listing ready for online house hunters and serious holiday buyers. What a better way to celebrate the upcoming new year.

Call Lisa today for all of your real estate needs. 207-653-0823.

Saturday, October 6, 2018

Should I sell my home now or wait until spring?

By Mel Oldakowski

There are many questions homeowners ask themselves during the selling process. "How much will my home sell for?"  "How much should I list my home for?"  "Who should I select as a real estate agent to sell my home?"  Lastly, "Is this a good time to be selling a home?" is also a very common question that real estate agents are asked.

As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold.

This is the furthest from the truth. There is no doubt that the "spring market" is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for several reasons.

https://www.mainelistings.com/Search/Listings/Details-Page/1/Index/1One great reason to sell your home now and not wait until the spring market is there is sure to be less competition. Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. 

Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received, and you will get the maximum amount of money for your home.

Many homeowners believe that buyers aren't out there during the fall and winter months. This simply is not the case. Serious buyers are always out there! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is. 

Do your neighbors have pumpkins on their front step? Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween? Do any of your neighbors have any light displays for the holidays? There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.

The best agents are always up for the challenge. Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home. A great real estate agent will know how to adapt to the current season and market their listings to reflect that.  

Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, title companies have fewer closings to do and home inspectors have fewer inspections.  All these factors should lead to a quicker transaction and less stress for you.

This article was brought to you by Mel Oldakowski of Better Homes and Gardens/The Masiello Group in Windham. She can be reached at 207-205-0121.