Monday, October 11, 2021 / by John Salkowski
There are 6 real estate mistakes that you need to watch out for:
1. Overpricing your home. Even though we are in a red-hot seller’s market, you can’t just pick a number out of the sky for the price. The price depends on the condition, location, and more.
2. Submitting lowball offers. Even in a slow market, we still don’t recommend this, but it’s even worse in this crazy market. If you don’t want to lose the home, we always recommend putting your best foot forward first.
3. Waiving home inspections. We don’t recommend this unless the client is 100% sure that they have a trained eye themselves. Once you settle on a property, you’ll have to live with any major issues it may have.
4. Feeling pressured to make a decision. We would never do this if you were working with us. It’s important to make informed and careful decisions as your home is likely your biggest investment.
5. Choosing a random agent. We’re seeing a lot of buyers contacting listing agents on a property they’re interested in. This is dual agency, where you're asking the same agent to represent both sides of the agreement. This just can’t be done in the ethical and moral way that real estate should be. Dual agency is actually the No. 1 cause of lawsuits against agents.
6. Visiting new construction without an agent. Do not go to new construction and speak to the sales associate alone. They represent the builders, and talking to them without an agent to represent you is, again, dual agency. If your agent isn’t with you, the first thing you should do when walking into new construction is tell them who is representing you.
If you have any questions regarding this or any other real estate topic, feel free to give us a call. We would love to talk with you, and there is never any cost or obligation for speaking with us.