DON'T sell your house!

Being in the real estate business doesn’t ever get old. Each and every client I’ve worked with, each and every deal I’ve had, each and every house, is all different. Every time a contract is written, the favorite part of my job kicks in……the negotiations.

 

Representing a buyer in today’s market in Northern Illinois is golden. Unlike a few years ago, the buyers now have all of the power in their real estate transaction and in the negotiations, power is king. I’m currently representing a very powerful buyer and we had a deal fall through over $2200.00. $2200.00! The listing agent had the nerve to tell me “Why don’t you take it out of your commissions and we have a deal”. Excuse me? Why can’t his seller dish out the $2200 so they can unload their already overpriced home! Better yet, why can’t the listing agent take it out of HIS pocket? This agents negotiations started and stopped with comments like “Well, if we can’t come together tonight, I need to know so I can put an open house ad in” and “My client has told me – You know, I don’t HAVE to sell this place….I can stay here”. If this is your agent’s negotiation tactics, you need to find someone else.

 

When I represent my clients, I have one thing in mind…..their best interests. I have gladly helped my buyers out in the past with certain deals where we are arguing of a fridge. I’ve happily approached the seller, bought their fridge and handed it over to my clients but it’s not this nor that so let me get to my point.

 

If you are thinking about selling your home in the near future, or if you are currently on the market, I urge you rethink what your motivations are for selling. If your property is one that you purchased a few years ago and you’re simply looking to make a dollar, then you need to stay out of the market during this time. The only sellers that are successful during this period are ones that are motivated to sell. A perfect example is this seller that we were working with on this current deal. They are letting the sale of their home slip away over $2200.00. If this kind of money is going to make or break a deal for you then you should not be selling….period.

 

I’m not saying that a seller does not have the right to make money on their real estate. For most people, their home is their biggest asset so of course it should make you money. I’m simply saying that if money is the ONLY reason, you’re in trouble.