Real Estate Round-Up: May I have this dance?
Last updated 1/25/2020 at 4:50am
The peak selling season for Fallbrook is coming up. The buyers are abundant. Many are moving from much higher cost areas in search of an affordable home in a less congested place. Many are moving here in search of a friendlier place to live.
Sellers in Fallbrook, on the other hand, are leaving to find more affordable places to live, which generally is outside of California. Many seniors are searching for a new place to call home, so they can stretch their retirement savings longer, and take advantage of their newfound time to travel or expand their hobby.
Many younger people, with or without children, are seeking a place that they can afford to purchase a home and have a career that is able to financially provide more than just the basics in life.
Whatever the reason, there are a few suggestions I’d like to make that in the end will make the selling process much less stressful and enjoyable.
Sellers and buyers seem to start from the same place, and that is the price of a property. That’s a good starting place, but it should not be the only aspect that matters.
Buyers and sellers are on opposite sides of the coin when price is the factor. Sellers want to sell for the highest price possible. Buyers want to pay as little as possible. So how can you approach this initial chasm between the parties? My suggestion is to keep your eye on the prize at the end. Let me explain.
If you’re working with a well-respected and knowledgeable Fallbrook Realtor, they know the value of the home. They understand that the price is much more than price per square foot, the location, the amenities and the simple existence in Fallbrook, a place that many people are seeking, adds value far beyond the square foot of the home or the size of the parcel.
A well respected and knowledgeable Fallbrook Realtor is equally able to share this information with buyers’ agents and potential buyers alike. If a seller is contemplating working with a Realtor, not from Fallbrook, there is no way for them to factor in the intangibles for either party, since they’re unaware of them.
So, let’s assume that a seller is working with a well-respected and knowledgeable Fallbrook Realtor, the only other place that can bring stress and frustration over the process is a lack of focus on the prize at the end.
At Murphy and Murphy, we like to explain the process as a dance, rather than a boxing match. In other words, if you’re looking for a knock-out punch to win the match, you will feel tension and frustration over the process. If, however, you keep your eye on the prize, you will find that you are willing to be flexible throughout the decision-making items that arise during a transaction.
Take for example, repairs. The Residential Purchase Agreement and Joint Escrow Instructions state that all homes are sold “as is,” subject to the buyers’ inspection rights. Flexibility means that both sides should take that phrase reasonably and be willing to give up a little to get to the end.
We see clients all the time who get it, who understand doing one or two things more than they believe is required, is much more pleasant than negotiating for days so that you can say you “stood your ground.”
We also see clients all the time who believe that they need to win every point. Trust me, those people feel stress and a lack of joy during the transaction.
I think of it this way, if someone cuts in front of you on the freeway, how do you respond? Generally, we let it go. We aren’t going to chase the driver down and give them a piece of our mind at the risk of injury just to save a few minutes.
Repairs are just one of the places that sellers and buyers can choose to let it go. I don’t want you to think I’m going soft, because that is not the case, I’m just saying if a buyer wants you to change out a dripping faucet, add a GFCI or mend a broken fence, isn’t the cost of that much less than the anxiety over standing your ground?
On the other hand, if a seller does not agree to change out a dripping faucet, add a GFCI or mend a broken fence, isn’t it easier in the long run to take that repair on yourself as the new owner to do it your way and move on to the prize, which is worth the compromise?
Selling a home is emotionally stressful. Even in the best of scenarios, there are a lot of emotions built into the process. As sellers and buyers, you have the power to let the process flow, like a dance. So, I urge you to work with a well-respected and knowledgeable Fallbrook Realtor and treat it like a dance.
Kim Murphy can be reached at [email protected] or (760) 415-9292 or at 130 N. Main Ave., in Fallbrook. Her broker license is #01229921, and she is on the board of directors for the California Association of Realtors.