Even in the information age with the ability to research copious amounts of real estate information online, there are people (we call them unawarites) that make some seriously stupid mistakes – don’t become one of these special victims of real estate:
The know it all – This person can’t be educated on anything and they always know more than I do. I most commonly am contacted by these type of people to evaluate the new home they bought after May 2007 because it is about to be completed. No matter what the situation, and how much money these people have lost, they still know more then I do. Their mistakes are often big and costly. Result — Because they know it all they let it all ride and then they blame everyone else for their mistakes. As a rookie I might have stuck it out and dealt with them. One thing I’ve learned though is that life is too short to help those who don’t want or think they need help.
The Deer in the head lights – This young first time buyer couple who just refuses to be skeptical often ends as road kill. They go looking at homes before doing any research into what’s involved and some how always end up with a fantastic deal. They somehow get convinced that they’ve bought homes on handshake agreements, that they don’t need an inspection or they need to put more money down when its not necessary. They usually deal directly with the owner, or someone who claims to be the owner. These people usually learn shortly after the purchase, usually after they talk to the first person they meet, that the deal they got isn’t such a great deal after all. Result – The true impact isn’t realized until they go to sell in the future.
The Bargain Hunter - This is the buyer who always wants to put in a low ball offer – their concern is not actually getting a good deal, it’s how much they get below list price. They’re not so concerned about the property or the location, so they write offers on anything they could tolerate $50k or more below list price. Eventually someone bites…. The result — they think they got a great deal, and are stuck with a home that isn’t what they wanted. In fact, they paid more than the new neighbour down the street who only got $15k off list price, it’s just that this seller was asking a more reasonable list price. It’s not how much below list you get the home for, it’s how much you pay relative to market value!
Sounds like you’ve heard from a few customers, or you’ve had a crappy day.
I agree. The world would be a much better place without people. I get all kinds of “know-it-alls” call me, and it has taught me that patience truly is a virtue. I found it also easier to get along with my clients when I just tell them upfront that they’re dreamin’. Then, the cat’s out of the bag and we both move on.
Don’t give up.
***LOL…thanks for the encouragement, but I’m neither discouraged nor did I have a bad day. The other day I got a call from a mortgage broker who was quite concerned about something their clients were getting involved in. The details of which I can’t get into, but my only advice to her since they were acting on their own behalf for the very first time was “tell them to get their lawyer involved asap”. They almost fired their broker when she mentioned this to them.
Interesting perpsctive from someone that works with people for a living! There are a few categories of realtors that aren’t too flash either, I like to call them the “looking out for numero uno” crowd.
Two question:
1. Weren’t you the expert in May 2007 who probably encouraged them to buy because “The real estate never goes down and Alberta is different than the U.S..”?
2. Weren’t you happily collecting your cut from the sales to all those “know it alls” for almost 3 years and now you have a problem with your “clients”?
***Dear mr bitter…
1. Get your facts straight and yes real estate does perform differently from region to region. I’ve never ever said real estate goes up for ever but it does in the long run. One last thing mr bitter with the broad brush, you’d have to ask my clients if they feel they’ve gotten good advice from me.
2. Who isn’t happy when they get paid and who says I have problems with my clients. Did you read the post? do you know sarcasm when it whacks you on the forehead like an acme anvil (ala road runner).
3. I know you didn’t have three questions but this 3rd answer is just for you. Its ok. I understand. You’re angry and you want to lash out. This post is an observation on certain people not all people. You’d fit in the category of blind angry guy/girl.
Have a nice day
Sheldon