Jim Valentine: Who makes the decision?
Many decisions are made during the process of buying or selling a home. Each of them has the potential to impact the transaction and should be considered with care. When options are presented that require a decision be made there are usually numerous people ready to weigh in with their opinion on what you should do. In the end, it is up to you, the buyer or seller, but sometimes the assistance of the right person/people can be a big help in making the right decision.
The circumstances of each decision will change regardless of how many homes you’ve bought or sold. Are you making the buy/sell decision for you, you and your family, or somebody else? Others that could compel you to make a buy/sell decision include your financial planner, your lawyer, your children, your parents, your employer indirectly when they transfer you, even your grandparents. There are more people influencing your life than you care to admit, but when it’s time to make a real estate decision it is time to recognize that fact.
Family influences can be difficult, especially in a tight loving family. Everyone will have an idea of what is best for you, but not everyone shares your perspective. Their experience may not apply in your situation. If they have a personal benefit for the proceeds of a sale, or enjoyment of an acquired property then their glasses may be tinted in that direction. You can consider their wants as part of the process, but it shouldn’t drive the decision, it is only a part of the equation. The exception is if you have a serious situation like having to adjust your circumstances so as to care for an ailing family member and have to sell or buy to do that.
When you have the family under control you will realize that there are other people trying to influence you. We’ve had people come back to us lately with transaction suggestions from their lender that had nothing to do with the loan. What does the lender know about the seller and their property’s circumstances, and do they know everything about the buyer’s circumstances, or just about their finances? The funny thing is, we don’t tell them about their finances, we get the information from the lender about what they can borrow and go from there. We don’t tell them what loan program to get – is isn’t our business. Pay attention here.
Professionals can and should have a say in things. Your accountant and attorney understand your financial and legal status and know how a sale or purchase will benefit or harm you. Their advice should be objective, straight information on how you are going to be impacted in a black and white manner. Listen to their input.
Some parties want to meddle as they are attracted to the action. Others think they are all knowing and want you to do it their way. Real estate agents get this way sometimes. Agents are there to help you with perspective and solve problems. They can detail the potential consequences of each decision scenario, but in the end only you know what is right for you. We recently experienced a seller that had an agent trying to list their home for $750,000. The seller wanted to sell it to a known party for $200,000. The agent tried to kill it so he could buy it. Buyer and seller worked to accomplish their goals without negative third party influence. The principals to the transaction were all happy in the end. The transaction was more about love than money.
Our advice: If making your decision under duress find people you can trust and work to clearly understand your options. You should be able to amass enough information and perspective to make the right decision on your own. Whenever you are buying or selling, under duress or not, gather information, evaluate it, establish the proper perspective for your circumstances and make a decision considering your wants and needs.
With proper preparation the decision will be the right one and the right person will have made it … you. If you are stuck in a decision consider, “A happy wife is a happy life!”
When it comes to choosing professionals to assist you with your real estate needs… Experience is Priceless! Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704. firstname.lastname@example.org