Detroit Real Estate

I got a call yesterday from another real estate friend.  He had gotten a call from a first time home buyer about taking them out.  The agent started talking to the first time home buyer and found out that I took them out over a year ago.  I had worked with them about six months.  We had put in 3 offers and lost them all because we did not bid high enough or the homeowner couldn't sell the house for what it would appraise for.

Then they went to another real estate agent and worked with her for a while. (I didn't know they had gone with somebody else)  Until I had gotten a call from the buyer complaining that the list I was sending them was exactly like the other real estate agents list.  IT WOULD BE.  WE CAN'T MAGICALLY MAKE HOMES APPEAR FOR SALE.

• We send you what fits your criteria.
• There aren't any "SECRET" homes
• If they aren't on the list then they don't fit your criteria or price range

The buyers had a certain payment they wanted.  They wanted a newer house, with a certain minimum square footage.   The problem was that most of the houses were out of their price range.  They would bid on them but lose them because they couldn't bid high enough.  Or they couldn't bid higher because the high taxes in the city (Southfield is one example) would put them over the payment range they wanted.  There were a few that fit their criteria.  They could buy the house, but they would turn their nose up at them over cosmetic details.

  They would look on other sites than Realtor.com, or MoveinMichigan.com and find "other" homes.  But unfortunately some of the sites they were looking on had outdated listings.  They were sold over a month ago.  Which added to their frustration.  They would not listen to the advice to look on Realtor.com for the latest listings.  "These other sites had different listings" they said.  Of course they did they were out dated listings!

So over a year later they still had not found a house.  The buyers were on to their 3rd or 4th real estate agent.  They will still be looking for a long time. 

• THE BUYER NEEDS TO CHANGE THEIR CRITERIA. 
• THE BUYER NEEDS TO LOWER THEIR EXPECTATIONS
• THE BUYER NEEDS TO UP THEIR PRICE RANGE

I have seen this happen over and over through the years.  Buyers that have unrealistic expectations that go through 3 or 4 real estate agents.  Put 5 or 6 offers in and lose them.  Look for over a year.  I lose buyers like that because they get frustrated with me telling them they need to change their criteria, Or they get frustrated with losing the houses.  Somehow they feel it is the real estate agents fault.  That somehow we can magically make their low bid become the best bid.

Unfortunately we don't have a magic wand.  I too get people that come to me from other agents that are frustrated.  I talk to them and ask them why it didn't work out with the first agent.  I work with them to adjust their criteria to find a house that fits their needs and pocketbook.  Sometimes they have to give something up.  Sometimes they refuse to become realistic and we go our separate ways.  I once met a past client with another new agent 2 1/2 years later.  They were still looking for the "special house"  2 1/2 years should be long enough to tell you it is not going to happen.

If you have been looking for over a year and have lost 4 or 5 homes then look at your criteria, your price range, your cities you want to live in. .  I know it's hard, but sometimes you have to give up something in order to buy a house that fits your pocketbook.

Russ Ravary your Metro Detroit real estate agent 

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