Watching the Olympics is truly inspiring. While we may not all be Olympic athletes if we pay attention we just might learn some winning principles we can apply to our daily practices. Home buyers and sellers who consider these principles might just strike gold!
PREPARE: Champions prepare for years, even lifetimes, for a shot at winning a Gold Medal.
Buyers: Have your finances in order--that means developing a solid working budget for your family, having a loan pre-approval in hand and deciding in advance who your trusted advisors will be.
Sellers: You've heard it before...clean everything, fix everything, stage everything. You have one chance, just one opportunity to score with each buyer. Buyers eliminate properties quickly, sometimes even without seeing or driving by your home. The photos and descriptions you display on the internet are critical. Few buyers give homes a second glance once they've deleted them from their list. You've got to look and be the best. Follow the example of the gymnast who combines brute strength and skilled performance with stunning costumes and form.
FOCUS: Just watch the athletes rituals as they approach the competition.
Buyers: It takes time and energy to find the right home. As the market improves homes are selling more quickly. Your agent should provide you home search tools which give you automatic email listing and price adjustment updates.
Sellers: Be ready to show your home on short notice. Develop a daily routine for clearing clutter. Have a basket ready to gather toys or papers quickly...just in case!
PLAN FOR THE UNEXPECTED: Sometimes things don't go as planned, offers fall apart, lights get left on, appointments run late, inspections uncover needed repairs. Your real estate agent will help you through any challenges you may encounter. Consider the strategies Michael Phelps and his coach, Bob Bowman employ.
HIRE A PRO: Stories abound telling how athletes train overtime with the best coaches in the business. Many leave home and family behind, knowing that the right team is critical to their achieving their goals. According to the National Association of Realtors, in 2011, the average seller who used an agent sold their home for $215,000. The average for sale by owner (FSBO) sold their home for $150,000. Buying or selling a home is a significant personal and financial decision with long term consequences.