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Don’t Be a Loser: How to Win in the Real Estate Game

Paul Jamison of the Jamison Family of Companies chats with Sandy Dickinson of Cross Country Mortgage and Marty and Sam Ivey of Ivey Exterminating about how to win the real estate game, and they also discuss mice, termites, and photo tips for sellers.

How to Win in the Real Estate Game

In today’s competitive real estate market, buyers often submit offers (sometimes up to 10 to 12 offers!) that are not accepted. Listing agents are now keeping spreadsheets in order to track activity. If you are one of these buyers who keep losing the house, you may need to change your strategy. Try some of the following tactics:

Find a new agent. Your agent may not be experienced enough to navigate today’s crazy market. Perhaps they are a relatively new agent and have not been in the business long enough. They may not even be local or familiar with the Charlotte market. Maybe other agents find them difficult to work with. Find a qualified, respectful, experienced, and knowledgeable agent.

Start listening to your agent. If your agent is qualified and has been working in the local market for a while, you may want to start listening to their recommendations. They can recommend local inspectors, lenders, etc. that can help ensure that your offer may be accepted above all others, and they can navigate through the challenges to get the deal done.

Evaluate your expectations. Today’s real estate market is not at all like it was in years past. You cannot submit offers for $50,000 under the asking price and expect to receive a counteroffer. With so many other offers on the table, the seller may just reject your offer outright. Work with your agent, and write competitive offers.

Consider waiting. If you’re burned out and frustrated by the whole process, it may be time to take a pause. Step away for a bit, recharge, and get in the proper mindset to get right back into the game. (Just don’t wait too long, because, as Sandy says, rates are going up!)

Consider new construction. If you feel the market is too competitive and you don’t want to find yourself in one bidding war after another, new construction may be an option for you. You should still engage a realtor on your side as your sole advocate, even in a new construction transaction.

Find an agent with exclusive agency listings. With exclusive agency listings, only agents from the agency that listed the house can represent buyers in the transaction. These houses are not marketed publicly, so there is less competition amongst buyers.

Make sure your contract is clear, concise and complete. Do not leave any gaps (especially the seller’s name!). Gaps create doubt or red flags, and red flags may cause you to lose the house. Your agent should present you as a buyer with solid credentials, so there is no hesitancy for a seller to accept your offer.

Look for listings that have gone under contract and came back on the market. Maybe the deal fell through, or the buyer lost their job and couldn’t proceed with the transaction, or the buyer and seller could not agree on negotiations. For whatever reason, houses do come back on the market. Often, in that case, those initial buyers have moved on and are out of the picture now.

Submit backup offers. With today’s economic and job volatility, deals can and do fall through. Write backup offers for houses you really want. Then, if the initial deal falls through, you can be next in line.

liebesbrief paket, gebündelt mit stift

Don’t use “love letters”. “Love letters” were used years ago as a plea to the seller for how much the buyer would love and care for their house. For example, the buyer is a “foodie” and the house has a beautiful chef’s kitchen. Sellers in today’s tight and fast market don’t really care about such emotional things. They’d rather have a stack of solid offers from financially qualified buyers to choose from.

Don’t hesitate. If you hesitate and take too much time to submit an offer, you may lose the house. In the wise words of Paul’s friend, Don Harris. “Don’t sleep on it, or you won’t sleep in it” (good one!). If you see a house you love, have all of your ducks in a row and be ready to make an offer.

Eek…There’s a Mouse in My House!

Mice can quickly become a problem in and around your home. They reproduce very quickly. Even if you think you don’t have any mice, you probably do. They can be in your garage, too, for any number of reasons: clutter, stored pet food, stored firewood, food and food packaging garbage, grass seeds and mulch. Try to keep your garage as clean and clutter-free as possible to help keep mice from finding their way inside your home.

macro close up termite on wooden in dark background, home danger

Termites

We are about 3 to 4 weeks away from the start of termite season. Termites are currently maturing in order to come out and do what they do (including damage to your home). Many pest control companies are having problems finding and keeping good technicians, and are hesitant to offer termite treatment due to potential liability. Work with a reliable, professional pest control company, like Ivey Exterminating, for proper and effective termite barrier treatment to knock out the colony.

Photo tips for Sellers

90%+ of all buyers in real estate transactions start their search online. As a home seller, your photos must be exceptional. Here are some tips for taking photos that will get your house sold:

  • Hire a professional photographer (don’t use your phone)
  • Don’t start with an inside picture (buyers will think your house is ugly)
  • If you’re using virtual staging, disclose it
  • Don’t take misleading pictures (no photoshopping allowed)
  • Remove all pet items (dog beds, litter boxes, etc.)
  • Put the toilet seat dow
  • Make the bed

We’re Here to Help!

To discuss property management, property investment, selling, buying, the local real estate market, and all things real estate related, contact the expert team of trusted advisors at Jamison Realty at (704) 846-3663.

We will be with you every step of the way. Also, listen to Your Real Estate Today radio show every Saturday afternoon on WBT for fun and interesting real estate information and special guests!

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