Top Ten List: Mistakes Marin County Buyers Make, Part II

This continues the post from yesterday about mistakes that buyers make. I hope it’s helpful!

4. Not asking the right questions. There’s a few key ones. For example, “Why are they selling?” is always a great one. The answer to that will tell you all kinds of things about their motivation. If the answer is, “Well, they would like to move to the Wine country, and this will help shrink their portfolio,”  then get ready to wait. They don’t have to move. But if the answer is “They’ve moved to Washington, because he got a new job,” then you know the seller is motivated.

Also, “What is the seller interested in seeing in an offer?” is important. Short close? Rent back? Put them in upfront, and you’re chances of getting what you want - at a better price - go way up.

5. Not getting a pre-approval letter. Lots of buyers get pre-qualified. Pre-approval though is even stronger. It says that you will get a loan from this broker, not just that you can get a loan. It’s an important difference when you’re asking a seller to take his property off the market for a while for you to inspect it.

6. Trying to work with multiple buyer’s agents. Logic may tell you, “Hey, if I have three people looking for me, isn’t that better than one?” Not really, at least not if you want their attention. A realtor’s biggest challenge is time management. We only get paid when deals close. So is a smart, busy agent going to spend time with someone who may turn around and give their deal to someone else, if they miss something? The answer is no. On the other hand, if I know a buyer is committed, we’ll turn Marin County upside down for them, find homes that are not on the market yet, even approach unlisted homes if necessary to find the right property for them.  We’ve done it - ask our clients.

More later.

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