4 Reasons You Should Insist on a New-Homes Specialist as a Buyer
1. A new-homes specialist knows home value based on quality of construction, finish work, upgrades, appliances, square footage, design elements, landscape, lot size and street location.
2. A new-homes specialist can explain the differences between basic-grade quality and deluxe quality and show you where a builder either cut corners or went the extra mile. Your truly qualified specialist will be exceptionally hands-on during inspections, due diligence investigations and critical moments to review and explain builder warranties. He or she will assist completing and negotiating a comprehensive punch list and repair list to meet a specific allocated timeline.
3. A new-homes specialist is connected! Relationships with builders/developers, other successful new-homes agents, tech-savvy sources and H.R. directors are an absolute must. A social media platform with a significant following focused on new homes and eye-catching trends differentiates a new-homes specialist from an ordinary home-selling agent. A known reputation as a new-homes specialist positions him or her to a direct pipeline with current information, better information and quicker information about off-market properties and new homes coming soon from the day a building permit is pulled.
4. A new home has a reliable reputation. Reputation positions a new-homes specialist to get your offer heard and approved without hesitation. Builders trust seasoned new-homes specialists to only work with well-qualified buyers; they know the specialists have sold many other new homes, therefore instilling confidence that the deal will close.
Best and Worst Times to Submit a Low Offer
There always seems to be a temptation to submit a low offer the day after a huge price reduction, but I can think of no worse time to get a seller's attention. There are two times in the marketing process when a seller typically has big hopes and expectations. The first time is when a seller is going on the market. He has worked for several months painting, cleaning, staging and preparing; has chosen a good agent, reviewed comparable sales and checked neighborhood open houses; and feels totally in the driver's seat. He is hoping to sell his home in a week at the asking price -- or maybe above, if he is fortunate enough to have multiple bids. Then you come along and offer 10% below the listing price. He is in shock, offended and maybe even so upset that he refuses to make a counteroffer. It's rare to get a low offer accepted in the first week, but you can try. The downside is it may not sit well with the seller, and later, he will need to understand that your offer was based on your finances and not intended to offend.
The other time a seller's expectations are high is just after a major price reduction. Similarly, the seller expects the home to fly off the shelf with the new attractive price. You will probably need the new price to marinate awhile until the seller realizes that even with the new price, it is not a bargain and he will probably need to negotiate further.
The best time to give a low offer is when a seller comes to the realization that the adjusted price is now in the range to attract an offer and the original price was not even close. From here, it boils down to the seller's level of motivation and how urgently he needs to sell.
For more information, please call Ron Wynn at 310-963-9944, or email him at Ron@RonWynn.com. To find out more about Ron and read his past columns, please visit the Creators Syndicate webpage at www.creators.com.Copyright 2020 Creators Syndicate, Inc.