Can This Market Really Be Fun?

This was written six months ago, and sat as a draft post for too long unfortunately. The good news is that since this time the market has gotten a lot better for buyers, so it’s not as stressful experience as it used to be.  You might only have to miss one or two houses before finally winning now.  Anyway, even a slower Austin market is still MUCH faster paced than most cities in America, so much of what I’ve written still applies, although to a lesser degree perhaps than a couple of months ago.

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I’ve been working with more buyers than sellers lately it seems, and this competitive, fast-paced Austin market is just brutal to buyers sometimes, and unfortunately the lower the price point the harder it gets.  Since almost every worthy house turns out being in a bidding war, it can be quite stressful and taxing on my clients.  I get to know and really genuinely like these great people I’m working with.  I really want them to WIN over other the other bidders.  I want them to find a HOME, and they deserve it!  “Surely my clients are more worthy, higher-quality people than the other bidders, and deserve this house right?”  In fact though, I imagine a lot of other realtors probably feel this way as well, and losing is never fun either.  Regardless, any buyer in this market should be prepared to lose a few bids before they are finally able to win one, and this process can be a more than a little stressful.  Not only does the competition make it stressful for buyers, but so does the speed of the market.  Two homes became available in my neighborhood a few weeks ago, and they were gone in under 24 hours.  Many that I show to my customers only last for 3-4 days and go under contract after seeing multiple offers well over asking, and sometimes there are even cash offers presented.  The competition that buyers experience and the speed at which they have to make a decision really can seem like a cruel process. 

Sellers have it a lot better I think, but their process is not without major stresses on their lives as well.  They have to go through all the process and paperwork to get ready, and begin emotionally parting with the home they have years of deep bonds with.  They have to face the facts of market valuations, which do not always match the sentimental valuation in their minds.  Then they have to rearrange their furniture, decorate, paint, make their house spotless, hide their valuables, upend their schedules to vacate their homes, and make it available to complete strangers.  Then if they’ve priced their homes incorrectly, they’ll have to extend this process for weeks and weeks, and likely eventually lower their price if it drags on too long.  Although it is hard, sellers get to end their unpleasantries sooner than buyers in some way.

So what can I possibly do to help?  Can I honestly “make it fun?”  I’d like to at least try!  One thing I can do is be your guide, laying everything out for you so you don’t have the stress of not knowing what to do.  The second thing I can do is try to do a lot of things FOR you, giving you a real concierge experience, and allowing you to “smell the roses” more along they way than you could have otherwise.  That’s really what I mean when I say “I want to make it fun!”  Buying a home should be exciting and fun.  It’s one of the biggest experiences of your life, and I want to help fill it with joy. 

Beyond what I can do, there are some things that buyers or sellers can do as well to help make the experience better:

1) They can mentally prepare themselves for battle, and not be surprised when it comes.  Competition and bidding wars are just part of the process, and everyone can’t win all the time.  

2) They can start preparing early so their ducks are all in row when it’s time to shop seriously.  Get pre-approved for your loan early, and don’t back yourself into tight deadlines.  Start sooner than you think you should, and give yourself breathing room.  

3) Know as much as you can about what you want before you start shopping.  Your realtor is there to assist you, but it’s unlikely he can help you find that right home if you can’t articulate it yourself.  As a famous agent once said to his clients “help me help you!”  

4) Pick a realtor that is pleasant to be around, and you feel like you can trust.  You’re going to be spending a lot of time together!

All this being said, for now, I think I’m still going to stick with my present tagline: “I want it to be fun!”  It’s not as much an expression of what it always is, so much as it is an expression of the goal.  It never hurts to be reminded that it should be fun, and actually can be fun.  I’ll do my best to equip you with the best tools to be competitive in the fight, and strive to give you a real concierge experience so that you can stop and smell a lot of the roses along the way.  Please let me know if I can help.