David Morris Group - The Reality of Real Estate: You Have to Compromise - Reno Real Estate Advice

The Reality of Real Estate – You Have to Compromise

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David Morris Group - The Reality of Real Estate: You Have to Compromise - Reno Real Estate Advice

Just like in friendships and relationships, the key to coming out of the home buying experience on top is to compromise. We’re not saying that you should compromise on everything, but holding out for a home that meets your budget, is in your ideal neighborhood, and has all of the bells and whistles you’d dreamt of is about as likely as hitting the lottery. It does happen, but not often enough to make it the rule.

 

So that leads to the question, what should you compromise on and what are factors that will heavily weigh in on deciding that a property isn’t right for you? We’ve been around long enough to know what compromises will help you find a home that you’ll spend many happy years growing and thriving in. Take a look at our list of where to begin making compromises:

 

1. Items that need to be repaired in a home

Unless you’re buying a home that’s been recently built, there’s likely to be items that need to be repaired. You’ll need some leniency when it comes to plumbing and electrical repairs. Your REALTOR® will be able to help you understand the severity of the repairs, but we warn you that if you’re looking at an older home with a roof that’s getting closer to the end of its life or items that aren’t up to the current code, it’s not reasonable to request the seller make those repairs before purchasing the home.

 

2. Pricing

Staying rigid on the price you’re willing to pay when you enter negotiations with a seller can have a huge hindrance on the process. If you’re not willing to work with the seller and come to a compromise, it’s likely to make them less willing to work with you. In a competitive market where the seller is receiving multiple offers, you want to be flexible. Keep your budget at the top of your mind and make sure your REALTOR® knows the real number you cannot exceed, but don’t put yourself in a situation that has the seller feeling boxed in and walking away from the transaction.

 

3. Look at the bigger picture

As you’re going through the process, focusing on your ultimate goal is crucial to your long-term happiness. It’s easy to get caught up in the nuances of negotiations but if the pesky details won’t matter in the long run, then don’t spend extra energy worrying about them. If things aren’t running quite how you expected, take a deep breath, remind yourself of what is important, and talk with your team about how you can compromise to make a deal both you and the seller can agree on.

 

The “dream home” may be a myth, but the “dream team” isn’t. If you’re looking to work with real estate professionals who will give you the real answers, insights, and advice about what it takes to buy or sell a home in Reno’s current market, the David Morris Group is who you should rely on. Never hesitate to give us a call at (775) 828-3292.

 

Reality of Real Estate David Morris Group Reno Real Estate

The Reality of Real Estate – The Triumph Stories Other Agents Won’t Tell You

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Reality of Real Estate David Morris Group Reno Real Estate

If you are someone who has bought and sold a home before, you know that you’re experiencing a cluster of emotions: excitement, nerves, stress, relief, sadness, and sometimes frustration. As real estate professionals, we focus on the victories and don’t often share the real, behind-the-scenes stories of triumph. David Morris Group is an industry-leading name in the Reno, Sparks area (we don’t mind bragging, we’ve worked hard to get here) and has helped many individuals, families, and investors navigate the sometimes rough waters of real estate. We want to share the reality of real estate and what triumph really means when buying and selling a home in Reno or Sparks!

 

Spoiler alert: this one ends well for our clients. David Morris Group helped these sellers move into their forever home and guided them through their first traditional purchase in Reno. Selling their home was another matter. What other agents won’t tell you is that multiple offers, while very exciting, can be complex and confusing, and this home had several offers. Each offer had many different variables the sellers had to consider, which made choosing one difficult as well as setting a high expectation for exceedingly strong negotiations. The very first offer on the table became over-negotiated and fell apart before it even had a chance. The twist is that this first offer won the day. After allowing our clients to take a step back and reassess their goals, the buyer submitted a second offer that proved right for both parties. The sellers were able to say goodbye to their first home on a very high note!

 

The strength of a REALTOR® lies in guiding clients through a journey, not telling them how to make very personal decisions. Through the twist and turns of back-to-back transactions, David Morris Group acted in our truest, most honest and caring form by guiding the sellers through the process, explaining every step, discussing every decision, and ultimately empowering them to make the right decisions for themselves. We appreciate the opportunity to serve our real estate clients throughout Reno and Sparks!