Over the decades I’ve never heard from a prospective buyer “I want to overpay for a house”, and that is probably true for you as well. We are naturally thinking “I would like a fair value for a fair price” and to each of us that may take on a different opinion of what that looks like. While on occasion in nearly four (4) decades a few people did overpay for the time, for the most parts the time continuum bared out that they “won” in the long-time hold. That is not always the case, as it is said that you make your money on the buy side of whether it is stock, a car, a house, etc. So, if you overpay it does make it harder to win whether it’s a short-term or long-term play.
Our advice is always based on the fact that each house or condo is truly unique. Maybe by just a little bit when it comes to tract homes but safely no two are exactly the same. What does that mean? If you can afford it and it matches what you have been looking for you may have to ask yourself what happens if you don’t get this house? Where will your dreams take root? What about the children you want attending a particular school? There is a lot to think about.
When a real estate agent is putting out a “just sold” postcard that states something along the lines of “this house just sold for the highest price in the neighborhood”, we believe that could be short sighted. Why? Primarily because you are calling out the buyer and telling the neighbors that your new neighbor just potentially overpaid for the same floor plan you live in. There can only ever be one person who sells for the highest price at any given time, that is just common sense. Do we need to announce it to the entire world?
At Realty Pro 100℠ we would not do that. Our goal is to respect the process whether the client is our buyer or not. What we never will know are the behind the scene offsets between the buyer and seller. There are more to a sale than just the actual price, it is about the net. We could see a home sell for a $1million that actually nets a seller less than the sale $980K due to the terms and/or closing costs as allocations.
So, don’t be fooled by the marketing gimmicks that some real estate professionals might utilize, there is more to the sale than the price. Besides you don’t actually get to keep what you sold a house for until the statute of limitations has run their course. Hiring the right professional will minimize your chances of retaining your net proceeds at the close, and at Realty Pro 100℠, because all of our agents are experienced, we believe you are making a wise choice calling on us for a “free consultation” to see if we are mutually compatible in your objectives and goals.
– Blake Vartanian
Blake Vartanian is a highly sought-after speaker, mentor, author and industry visionary with 37 plus years’ experience in the Real Estate Industry. Blake’s unique blend of industry knowledge, insight and his trademarked sense of hospitality is the focal point for Realty Pro 100℠’s blogs and social channels.
When it comes to real estate, not all companies are created equal. As Chairman of Hospitality Realty Corp. dba Realty Pro 100℠, Blake Vartanian has been very fortunate in his real estate profession to have built two #1 franchised locations for two separate global franchise companies.
Blake Vartanian, along with his wife, Joanne Vartanian (CEO and President), and their Executive Team; Mary Walters (Vice President / General Manager), Barbara Wayne (Broker of Record), and Zantine Greenwood (Chief Information Officer), Realty Pro 100℠ has the foundation to support your “hospitality focused” real estate experience through our dynamic team.
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