Owning your own home has long been part of the American dream. It's a goal most of us rightfully aspire to, and one that can often help build wealth. Indeed, 64% of Americans own a home today. If'
Family And Friends
Dated: June 17 2019
Whenever you’re thinking of selling your home, or purchasing a home trust me you're going to get loads of well-meaning advice from family and friends. Keeping in mind that these people love and care for you and only want what’s best for you, it’s important to understand that they are not REALTORS®.
This week I had a very interesting situation arise with a very motivated buyer. I have a lovely home listed in one of the most desirable areas of Dallas, TX. The buyer and her agent were so excited to view the home as she had been shopping in that area for over a month. The buyer's agent shared the buyer's frustration about not being able to get an offer in on one single home. The agent told me that “every time we find a home my buyer likes there are multiple offers and the home is already under contract”.
Well, this is your lucky day I expressed the home is still available. Great! said the buyer's agent we want to put in an offer right now. After submitting the offer the agent explained that the buyer's parents were coming from out of town to see the home and that they were, in fact, the ones who would be purchasing the home for their daughter.
The parents arrived from Houston and went with their daughter and her agent to view the home, and they just didn’t care for the neighborhood. Keep in mind that homes in this neighborhood were selling as soon as they came on the market. The daughter and her agent told the parents how much she loved the home and that it was perfect for her. But the parents just couldn’t get past the fact that they didn’t think the neighborhood warranted the price of the home. Subsequently, the offer was withdrawn, and this buyer had to walk away from a home that she loved in a desirable area of Dallas because her parents didn’t understand the property values in that neighborhood.
What’s the moral to this story? The parents felt that they were looking out for the best interest of their daughter, but didn’t really know or understand the real estate market. They made their decision based solely on feelings, emotions, and not on sound market analysis and facts.
What was the real issue? The buyer was represented by an agent who had already shown 5 homes and lost out on every one of them because of the hot market in that area. This agent had a relationship with the buyer and her family and was the expert that they hired to guide them through this process. the agent should have been armed with hard facts concerning the market in that area. The parents of the buyer were very intelligent and successful business people who simply needed to understand the facts concerning this area of Dallas. Remember they were from Houston so the Dallas market may not have been as clear to them as their own market in Houston, and neither of them were REALTORS®
Your family and your friends all mean well and think that they are doing what’s best for you, but when it’s time to sell your home, or purchase a home you need professional REALTORS® to guide you through the process. Someone who knows, and understands the market in which you live or are looking to purchase.
If you are looking to list your home for sale, or purchase your next home, you can trust the professional REALTORS® at Emanuel Skinner Group DFW Homes to guide you through the process. We have extensive knowledge of The Dallas/Fort Worth markets. When you hire Emanuel Skinner as your REALTOR your not just hiring me. You’re hiring the entire team at Keller Williams Lake Cities. Just like no one man could play every position on a baseball team, one man can’t handle a real estate transaction. It takes a team.
Texas Real Estate Consumer Protection Notice