Like climbing a tree
The month of April has been insane for real estate. Right now, the market is moving fast. Listings come onto the market to go almost immediately under contract. Not only do they go fast, but they go fast with multiple offers presented. This makes for some very happy sellers.
The other weekend, I placed a home on the market and received 14 offers in less than 24 hours. 14 OFFERS! That’s not normal! Right?
Of course, my sellers were ecstatic. They felt overwhelmed, naturally, but mostly ecstatic to be under contract.
But here’s the thing, I’m beginning to grow concerned about this super fast-paced spring market. I am finding that buyers are feeling pressured to make big decisions in short periods of time. When they finally have a few days to come down from that high and have the home inspection completed, I watch them nitpick that property to pieces. The same property they used to claim to love so much.
Is it buyer’s remorse? Is it unrealistic expectations of a home inspection? I have not figured that out just yet, but I do know it is really having a negative effect on the real estate transaction.
Now, I represent both sellers and buyers, so I am experiencing these “concerns” on both sides of the transaction.
It’s kind of like climbing a tree, something that my Elli has recently found to be “the best thing ever.” Climbing up is like the beginning steps in selling and buying a house. That climb is so exhilarating. Taking each step onto that next branch takes you to a new, exciting height. Once you get to the top, you feel like you’ve won. You’ve conquered that climb! But now, you have to come down. On the descent, your footing has to be just right. Plotting that next move has to feel natural. The minute it doesn’t, BAM! You find yourself on the ground. It’s over in an instant.
It's important to have a realtor with you at this point. When you experience a descent in a transaction, your realtor is right beside you, guiding you to that next branch. Sometimes the inspection reveals several defects in a home causing the buyer to concerned. These unwavering concerns can lead to buyers considering terminating the contract. Gathering accurate information from licensed contractors to have the repairs handled properly should be your first call. Having open lines of communication with all parties involved and making sure your completing your due diligence is imperative.
That is exactly how navigating through a real estate transaction can be. And that’s why my clients ask for my help. I help on the climb up, of course. Even when things are going great, I’m there. But I’m also there for the climb back down. This can be difficult and sometimes time consuming, but I’m here, guiding them down each branch.
I have to make sure that my clients feel secure in my guidance as we navigate this big climb. One wrong turn and we are both tumbling down. Over the past few weeks, my clients and I have experienced the tumble together. I can tell you one thing, no matter how the climb goes or how hard the fall is, I will always get back up and search for that next branch to bring us back to a better place.