Real estate is still very lucrative despite current economic challenges; and DC property has been sitting at the top of this market for years. It’s no surprise: Washington holds the best neighborhoods in the country. But not everyone can be so lucky – the good offers usually end by late summer and most are left to sigh about lost deals. With a great broker though – and a bit of planning - DC real estate may be just a dream away.
Why Low-balling Isn’t Acceptable
One of the most common mistakes buyers do is to offer such a low deal on a house they like. Not only can this be very frustrating to sellers, it can cause headaches to the realtor too. It’s not a sin to wait until after summer to purchase a home – in fact, in selected states, fall can be a great season to buy homes. But low-balling during this crucial time isn’t going to be effective. Here’s why.
Know Your Gold
Buyers usually low-ball because they don’t see how good something is. Washington DC real estate has tons of quality abodes, each with a different personality. The real estate agent should guide the buyer accordingly by comparing the house of choice to other similar dwellings; pointing out features, design, opportunities, and most importantly – price difference. Odds are, their values won’t differ by much (although one may be a bit bigger, or include a backyard pool).
Time is Precious
One of the most common mistakes buyers do is to offer such a low deal on a house they like. Not only can this be very frustrating to sellers, it can cause headaches to the realtor too. It’s not a sin to wait until after summer to purchase a home – in fact, in selected states, fall can be a great season to buy homes. But low-balling during this crucial time isn’t going to be effective. Here’s why.
Know Your Gold
Buyers usually low-ball because they don’t see how good something is. Washington DC real estate has tons of quality abodes, each with a different personality. The real estate agent should guide the buyer accordingly by comparing the house of choice to other similar dwellings; pointing out features, design, opportunities, and most importantly – price difference. Odds are, their values won’t differ by much (although one may be a bit bigger, or include a backyard pool).
Time is Precious
Statistics show that the average home buyer spends around twelve weeks looking for a new home. With that in mind, it can be illogical to low-ball just when a deal is about to push through. Remember that both parties have invested so much effort that it’d be a waste of resources and energy to offer irrational rates.
Seller Shares
Putting a house for sale can also be rather difficult for the seller. Their reasons may vary: mortgage, family problems, personal motivations – but it’s never easy parting with a huge investment. A lowball offer could feel insulting, and thus lead sellers to avoid further negotiations. Everyone wants to get a good deal – but not in this way.
A low-ball offer might mean a lost opportunity on a great home. Chances are, sellers have already done their research before pitching in a price. Even condos for sale in DC don’t last long in the market listings these days. Learn how to negotiate by presenting a reasonable offer. Great deals do happen – just be fair and patient.
Putting a house for sale can also be rather difficult for the seller. Their reasons may vary: mortgage, family problems, personal motivations – but it’s never easy parting with a huge investment. A lowball offer could feel insulting, and thus lead sellers to avoid further negotiations. Everyone wants to get a good deal – but not in this way.
A low-ball offer might mean a lost opportunity on a great home. Chances are, sellers have already done their research before pitching in a price. Even condos for sale in DC don’t last long in the market listings these days. Learn how to negotiate by presenting a reasonable offer. Great deals do happen – just be fair and patient.
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