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Avoid Buyers' & Sellers' Mistakes

Learn the secrets smart homeowners and investors know when buying and selling real estate. Do-it-yourself savings is not worth the risk of making one of these costly mistakes. Avoiding mistakes is why professional investors, and 86% of homeowners, hire a professional - a licensed Realtor. Hire yours from Coldwell Banker Paradise / Ed Schlitt Realtors.

PS: In times of increasing real estate scams, hire a Realtor to protect you. It is smart insurance.

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Eight Buyers' Mistakes

can cost you money when buying a home

#1 Missing the great deal. Don't miss the best deal available in the marketplace today! Get your OWN Realtor, a Buyer's Agent committed to using the experience gained through hundreds of successful negotiations - working for you. Commissions are totally paid by home sellers, but by Florida law, a buyer's agent works exclusively for YOU! 

Many times, buyers avoid using the services of a Realtor under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller, or the listing agent who works for the seller. Wrong! You need your own expert looking out for YOU. Considering the importance of your home purchase, do-it-yourself can be an expensive mistake. An astute Buyer's Agent has better information, and valuable expertise to help you get the best possible deal. Use it to your advantage.

#2 Not knowing the neighborhood. You can't possibly know all the neighborhoods as well as a professional who finds homes for a living. Don't you want the best home you can afford? A good buyer's agent has in-depth knowledge of the various neighborhoods in your desired area, great tools to help you decide what type of community is best for you, and skills to create solutions that delight the whole family.

#3 Failing to do a Comparative Market Analysis before offering. Before making an offer to purchase that special home, you must have an accurate idea of market value, to ensure you do not overpay. Ask us to prepare a Comparative Market Analysis showing competitive offerings, what similar homes have recently sold for, and the recent price trends. This is the same type of report the seller receives when deciding on an asking price. Wouldn't you like to have access to the same information as the seller?

#4 Failing to use effective negotiating styles and strategies. Many buyers think that the best way to achieve a fair purchase price is by offering low. This is the strategy of the naive buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that strategy will polarize negotiations and lead to inflexibility in the seller - or worse yet - failed negotiations! 

If you have chosen your Buyer's Agent wisely, the most effective strategies for this particular seller will be discussed with you. Negotiating experience usually means a better deal with minimum hassles. Your buyer's agent should indicate how offers will be presented to the seller to maximize the likelihood of acquiring your chosen property on the most favorable terms.

Most agents impersonally fax an offer to the seller's agent and wait for a reply. In certain negotiations, we insist on communicating directly with the seller. We present your strongest case as a serious and financially capable buyer who has researched the market and presented the best offer sellers are likely to see. We offer third-party professional testimony to substantiate the validity of your offer. We gage their reaction to your offer, and learn what modifications might yield the best combination of price, timing, terms, and sweeteners.

#5 Not recognizing construction issues. Get an agent who recognizes building flaws. Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands? We ensure appropriate clauses are inserted in the offer to help protect you from getting "stuck" with undiscovered defects. We also recommend several reputable home inspectors.  More inspection info

#6 Not knowing and understanding your rights and obligations set out in the Offer To Purchase. It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the buyer's side, can lead to increased costs or losing the deal. Your Buyer's Agent can thoroughly explain the agreement to you and help you fulfill your contractual obligations.

#7 Letting emotion blind reason. Buying a home is an exciting time and is usually an emotional decision. It is important that those emotions be validated by facts and reason. We help to remove the emotion from the negotiating process and provide you with the information you need to make the right decisions.

#8 Failing to get financially pre-qualified, with an interest rate guarantee before looking at homes. Knowing how much you can comfortably afford will focus your search in the right price range and prevent you from buying a home that will strain you financially and emotionally. Getting an interest rate guarantee will protect you in times of rising rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges. We help you initiate this process, and can also recommend creative sources of financing that help you get a better deal. We work with competing lenders who offer special loans and lower rates tailored to your unique situation. Avoid Internet lenders. They typically fail to fund the loan in time for your closing, or heap on "junk" fees, or change the interest rate at the last minute when it is too late to shop for a new lender.

Avoiding  these mistakes will help ensure you receive best value for your dollar when buying a home.

Buying?- Buy with an expert!

Astute buyers draw upon professional expertise to gain buyers advantage. Some agents charge a buyer's premium or transaction fee. We don't.  Either way, doesn't it make sense to protect your purchase by selecting a professional who knows the neighborhoods, the construction, the real estate market, relevant economic trends, and how to avoid homebuying problems? You can see that as authors of this comprehensive website,  we have the expertise to save you time and money, and get the home of your dreams.

Seven Sellers' Mistakes

can reduce your net proceeds when selling a home

#1 Choosing the Wrong Realtor or Choosing for the Wrong Reasons Many homeowners list with the agent who tells them the highest price. Remember, the market ultimately sets the price, not the agent.  Instead, choose an agent with the best marketing, the best market knowledge, and the best resources to sell your home. Inexperienced agents and small mom-and pop brokerages lack the depth of expertise and resources that a real estate powerhouse brings to your transaction. Hire a true professional.

An agent with a steady stream of buyers costs the same as someone who lists lots of homes and hopes someone else will sell them. Think like a buyer. Go to Google and look for something specific like "Brevard waterfront" or "Spacecoast homes". Is your Realtor on the first page? / Coldwell Banker is.

Here's the ultimate test - call the agent's office after business hours when buyers are apt to be driving around looking at homes and wanting information. See if you can speak with a Realtor. Now call / Coldwell Banker between 9AM and 10PM and put us to the test. Our office number is 321-480-5514.

#2 Basing Asking Price on Needs or Emotion Rather Than Market Value Many times sellers base their pricing on how much they invested in their home. This can be an expensive mistake. If your home is not priced competitively buyers who should be looking at your house will not see it because it is priced over their heads. or buyers will reject it in favor of better homes for the same price. The result is increased market time, and even when the price is eventually lowered, the buyers are wary because "nobody wants to buy a house that nobody else wants". The result is low offers and an unwillingness to negotiate. Every seller wants to realize as much money as possible from the sale, but a property initially priced too high eventually sells for less than market value. Work with us to determine the correct price for your home using a comparative market analysis, or sometimes a certified appraisal. Note: Some people mistakenly try to use the tax appraiser's values as a guide to a home pricing. That will not work. The appraiser's Market Value and Assessed value offers no predictable relationship to Sales Prices as evidenced by my Appraiser Ratios analysis (click to see).

#3 Failure to Effectively Market the Property Good marketing opens the door that exposes property to the marketplace. It requires distinguishing your home from hundreds of others on the market. It also means knowing how to sell benefits, as well as features to the right target audience! We employ a wide variety of marketing activities, emphasizing the ones believed to work best on your particular home. Over half of all listed homes are sold through other Realtors, so we treat them as our best customers, not competitors. We gladly share half of our commission so they too will show your home enthusiastically. You want a Realtor who will share half their commission with other Realtors. Otherwise, your home will not get the attention it deserves, or it will only be used for comparison shopping. Buyer's agents will not put your home at the top of their preferred selling list.

We do details! Ask to see other listings the Realtor entered on the master database called MLS. Look for careful details. With 86% of all homes sold through MLS, and that database exposed on the Internet, doesn't it make sense to make sure every detail is correct and complete? We carefully craft each detail that can that cause your home to get shown:  A. Great architectural pictures that showcase your home.  B. Enticing descriptions and benefits, C. Complete checklist of features, D. Good directions.

#4 Failing to "Showcase" the home. A property that is not clean or well maintained is a red flag for the buyer. It is an indication that there may be hidden defects that will result in increased cost of ownership. Sellers who fail to make necessary repairs, who don't spruce up the house inside and out, and fail to keep it clean and neat, chase away buyers as fast as Realtors can bring them. Buyers are poor judges of the cost of repairs, and always build in a large margin for error when offering on such a property. Sellers are always better off doing the work themselves ahead of time. Besides, the home inspector will reveal those flaws and you will get stuck doing them, or negotiating on them anyway. We'll tour your home as our buyers would, and make suggestions to improve its appeal and avoid costly last-minute repairs.

Attention to details could mean a higher price at the negotiating table, selling in less time, and with a minimum of hassles. But every day we run across badly marketed homes where there are poor pictures featuring the driveway, pointless pictures of furniture, or no picture! Can you imagine trying to get calls without enticing pictures?

Not only do we take flattering architectural photos with poetic descriptions that entice buyers to see your home, we publish a customized webpage with details that make your home special, and appeal to current trends in what buyers ask for. Then we link your page to our popular high-traffic website devoted to attracting BUYERS and submit your page directly to worldwide search engines.. See examples.

#5 Using the "Hard Sell" During Showings. Buying a home is an emotional decision. Buyers like to "try on" a house and see if it is comfortable for them. It is difficult for them if you follow around pointing out every improvement that you made. Good Realtors let the buyers discover the home on their own, pointing out only features they are sure are important to this buyer. Many sales are lost by overselling. If buyers think they are paying for features that are not particularly important to them personally, they will reject the home in favor of a less expensive home without the features.

#6 Failing to Take the First Offer Seriously. Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously, and to hold out for a higher price. This is especially true if the offer comes in soon after the home is placed on the market. Experienced Realtors know that more often than not the first buyer ends up being the best buyer, and many, many sellers have had to accept far less money than the initial offer later in the selling process. The home is most saleable early in the marketing period, and the amount buyers are willing to pay diminishes with the length of time a property has been on the market. Many sellers would give anything to recapture that prospective buyer who made the first and BEST offer.

#7 Not preparing for Buyer's Remorse. Most buyers only make an offer when they are emotionally committed. Once that wears off, they cool down and begin to second-guess themselves. Realtors deal with this phenomenon every day and work to prepare buyers to make a well-reasoned decision that is in the buyer's best interest. Can you "save the deal" that starts going sour?

#8 Not knowing Your Rights and Obligations. The contract you sign to sell your property is a complex and legally binding document full of pitfalls and details not readily apparent. An improperly written contract can expose you to liability, allow the purchaser to void the sale at any time up to closing day, tie up your property unnecessarily with a buyer who cannot fund the purchase, or cost you thousands of dollars in last-minute concessions. That's why sophisticated sellers always use a Realtor, and only amateurs go it alone. Imagine your furniture on a moving truck, and a buyer that cannot or will not complete the deal. There are hundreds of problems that can crop up prior to getting your money at closing. Our professional experience allows you to avoid problems. We carefully review the contract you are about to sign, make sure all the paperwork is correct, and follow up with the buyer, right through closing.

Avoiding these Big Time Mistakes will help ensure you receive top dollar for your home when selling it!

Selling? - Go where the BUYERS go!

Coldwell Banker - Paradise / Ed Schlitt Realtors is the right team to sell your Brevard home. The sales course at some chain agencies instructs their agents:  "Just sign up the listings, let someone else find the buyers." That philosophy works for them, but not for you. You need a Realtor that works with buyers.

Richard Webb is the "someone else" who finds the buyers. brings buyers from all over the world and supports the buying process with service, expertise, and helpful information.

Where would you rather list your home --  with an agency that specializes in taking listings, or with / Coldwell Banker that concentrates on finding BUYERS?


Contact the WEBBmaster for updated details, and help finding the perfect home.
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