Mar 3, 2017
By Stafford Manion
Everyone loves a deal. That’s especially true in the real estate market. We often have buyers beginning their house search saying they are looking for a “good deal.”
Savvy purchasers with an experienced agent can become educated buyers by looking at all homes that come on the market in their desired location and price parameters. They should also monitor a homes status on the market, looking for price reductions, how long it takes to sell, when it sells, and what it sells for. All of this information is pertinent to an active buyer!
Because of this process, a buyer’s opinion will become an educated one. When they finally land on a house it will invariably be because the house is a good fit for them, and the price is “reasonable.” The price of a home is important, but the fit for the client is a greater priority.
We often see clients willing to pay a little more than a data generated price because they are in love with the house, the neighborhood and the community. Price isn’t always the driving force when it comes to the sale of a home!
Usually, a prepared and educated buyer can offer sellers a more attractive contract than an unprepared buyer. Buyers should have their financing in place, offer substantial earnest money, and give the seller their desired closing date. These items can be attractive to the seller, and can more often than not, lead to a “good deal.” Fewer contingencies in sales contract can lead to a better price. Lose a few battles to win the war!
Often, a “good deal” will be generated by a seller who has originally priced their home too high, and has gone through a series of price reductions. These homes often sell under actual value. Many buyers focus on homes that are new to the market, and turn their heads to homes that have been listed for an extended period of time.
Always keep an eye out on all homes in your market, and try to be objective in your view of older listings.
The “good deal” may just be right in front of you!
About Gladys Manion Real Estate
Gladys Manion Real Estate was founded in 1936 by the late Gladys Manion. Now led by her grandson, Stafford H. Manion, the boutique agency located in Clayton celebrates over 80 years as being the leader in luxury residential real estate in the St. Louis market.