Don’t offend. Unless you are offering on a property which has been held purely for investment, the seller is emotionally invested in his property. Do not try to be Donald Trump; trash-talking the seller’s shelter is not a winning strategy. Statements like “This offer reflects the fact that the premises will require professional cleaning with a blow torch prior to possession” may just get you and your offer kicked to the curb.
Do get personal. Write a cover letter summarizing why you believe this is the right home for you. On many occasions, I have seen sellers accept a lower offer because they felt a connection with the buyer. The seller has a dog? It never hurts to mention that your own Scruffy, who has been on Prozac since moving to your current top floor studio apartment, is (or soon will be) “digging” the large rear yard. The seller raised his children in the home? Why not mention that the glow cast by the cozy brick-trimmed fireplace will be the ideal backdrop for your own little Einsteins to read Tolstoy aloud as they so often do? It may not help, but it can’t hurt.
Don’t defend your offer the wrong way. As in, by saying it is all you can afford or that you are basing it on what you believe values will be during the next lunar cycle. This approach will likely leave the seller with the notion that there is a buyer out there, one who isn’t you, who can afford his home and at the price it is worth now.
Do know the seller’s circumstances. Does the seller want to move or does he need to move? Does he need to be out of Dodge by sundown, or is he just toying with the idea of relocating to the Catskills if he can get “his” price? Circumstances will dictate whether there is a bargain on the horizon, and knowing this in advance can save everyone the aggravation of a long trip to nowhere.
Don’t preach. Your Charleston SC real estate agent has given you information on comparable property sales. Beating the seller over the head with your 16-column spreadsheet will not endear you to him. He has set a price, presumably after having taken this same data under consideration. You may believe his price to be high, but it is his price. Insulting his intelligence (even if you believe this intelligence, based on the price he is asking, is of the artificial variety) will not further your cause.
Do be prepared to negotiate. No buyer wants to think they paid too much, and no seller wants to think he sold out. Expect to go a round or two. “Take it or leave it” offers are rarely met with high-fives and bear-hugs from the seller, regardless of the price and even in this market. In negotiations, everyone wants to feel like they were in control and that they prevailed.
Don’t be unreasonable. There is value, and then there is crazy-talk. If a home is offered for X, and you are willing to pay 10% less than X, do not offer X minus $2 million and then ask the seller to throw in his bedroom furniture and a pony. You will not be taken seriously.
Lets sell your home
Today’s real estate market in Charleston South Carolina is teeming with opportunities for the buyer. Great values, values relative to prices a year or two or more ago, are plentiful. But, insanely great “deals” are still needles in the proverbial haystack, because market value will always be determined by what a buyer is willing to pay. This buyer might be you, but if you are unrealistic or even simply careless with crafting your offer, it will probably be someone else.
Those of us in the industry as licensed real estate professionals know the difference between the two, but does the public know? That is the question. And, do they really care? Studies show the answer is no. Let me start by saying I am a member of the NAR and it is a good organization that does a great service to their members and the public.
So; what is a REALTOR®? A licensed real estate agent that is a member of a national association that pays yearly dues to say they are a realtor, have legal representation, get education and association power. So in short, it is just a made up word for an organization. Period. There are benefits as a real estate agent sometimes to be a member of the NAR (National Association of Realtors), and little for the public. They would like you to believe there are by trying to convince the public it’s better practice to do business with an agent who is a member, but it’s my opinion it makes no difference. Keep in mind most of the benefits apply to the licensed agent who is a member of NAR. From the public’s standpoint it’s NAR’s stance that an agent who is a member is set to a higher standard than those agents who aren’t a member. You can be the judge of that.
What is a real estate agent? (as defined by wikipedia) a person or organization whose business is to market real estate on behalf of clients, and one who acts as a buyer’s rep in a transaction.
A licensed real estate agent who has gone through the schooling and training necessary required by that state to sell real property as defined by the governing body with which gave them their license. In the state of South Carolina, the LLR or labor licensing board is the governing body that handles the issue of real estate for SC, and the laws pertaining to it.
Does it matter if someone is a REALTOR®? NO, not really. A real estate agent non-member is just as qualified to sell as a “realtor”.
So; next question? What makes a good real estate professional? I guess that depends on the client’s idea of what they feel is acceptable to them.
We must first go through the qualities that best describe the duties necessary to be a great real estate agent. Since, being a real estate agent is more or less just being your own business on behalf of your client, we need to lay out the qualities of a great business or business person. Right?
1.) Marketing knowledge/experience
2.) Negotiation / Sales acumen
3.) Organization
4.) Hard work ethic
5.) People/personality management
6.) Technology knowledge
7.) Business management experience
Granted, these are a bit generic, but they are the fundamentals nonetheless.
So I ask again, does being accredited by a made up organization created for profit really make you more qualified to sell real estate? Not in my opinion. In my opinion having business and professional marketing experience is much more important to me. You can go to real estate school, and take a one day class put on by the NAR and can be 18 years old with no professional or business experience whatsoever to be a member. Do you think that person is going to be better qualified then someone who has run their own company, worked in some sort of professional environment for years? Most likely; not.
According to many experts in housing and economics there will be a few place in the next coming years where buying real estate is a good investment, and Charleston, South Carolina is one of them. Read the recent article by MSN.Home prices of course, are variable and depend on many factors, each of which is difficult to predict. Still, average home prices will drop by 7.9% nationwide in 2010, according to Moody’s Economy.com. In the few areas where there could be positive price growth, the projected increase is modest. “These areas will essentially be flat next year,” says Steve Cochrane, managing director at Moody’s Economy.com.The top 5 cities for home prices
Smaller areas across the Southeast are expected to fare well in 2010 primarily because they fared relatively decently during the housing crisis, says Jeannine Cataldi, a senior economist at IHS Global Insight. “They didn’t have such a big run-up, and they have a diverse economic base that enabled them to stay stable,” she says. Home prices in Charleston, South Carolina didn’t get out of line with household incomes; also, Boeing is investing in a fairly large manufacturing plant there, which could create some potential for income and job growth, says Cochrane.In short; these pockets of the country share a few important characteristics. One is that they are starting with a limited supply of housing stock. Another is that throughout most of the decade, prices basically stayed in sync with household income, says Cochrane.
Due to the economic and housing crisis Fannie Mae and Freddie Mac have had to unfortunately foreclose on millions of homes in Charleston and across the United States. The good new about this is you can capitalize on this misfortune. Before considering buying a house directly from Fannie Mae you need to talk to a Charleston, SC Fannie Mae approved realtor. Fannie Mae has devised a new program for prospective homebuyers called the HomePath program. This special program has many incentives that make it very enticing to say the least.
Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes
Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:
Closing costs;
The purchase of new Whirlpool® appliances by Fannie Mae; or
A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.
To be eligible for this incentive:
Offers must be accepted on or after January 28, 2010
This special financing is available on Fannie Mae homes with the following logo:The benefits include:
Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
You may qualify even if your credit is less than perfect
Available to both owner occupiers and investors
Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
No mortgage insurance*
No appraisal fees
To learn more about this program feel free to contact me directly at 843.478.8061
know? That is the question. And, do they really care? Studies show the answer is no. Let me start by saying I am a member of the
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