Real Estate Tips

Expectations for Buying and Selling Real Estate

In an ideal world, every Real Estate transaction would be quick and easy. Every seller would get more than their house is worth and sell it within just a few days, and every buyer would find the exact house they want and get a great deal! Sadly, it doesn’t work that way, but setting proper expectations can go a long way in helping you through the process. Here are a few things to expect when buying or selling Real Estate:

Buyers: Not every house is available for a deal. Real Estate TV and social media flippers often share stories of great deals that a buyer got on the purchase of a property, but the reality is that most homes have a specific value range based on the Real Estate in the surrounding area.

While some sellers might have the financial ability or time-based need to sell well below asking price, it isn’t as common as you might think. So set the expectation that while you might be able to negotiate a lower price on a home, it is unlikely that you’ll be able to buy Real Estate at a 30 or 40-percent discount without finding some major issues with the home. (In fact, the Tulsa average sales price tends to be between 2% and 4% below asking price.)

Sellers: Estimations are great, and a good market analysis can help find a good starting point for a list price, but the main factor in determining the worth of you home is this:

What is a buyer willing to pay for it?

The market at the time of a sale is always a contributing factor to how much Real Estate is worth, and buyers can have different opinions on what they would be willing to pay for a home. That’s why it is good to have an experienced Real Estate agent { or team 😉 } to help you navigate offers and decide if someone is trying to lowball you, or if the market may be dictating a lower price at that time.

Setting proper expectations is VERY important when venturing into the world of Real Estate. If you’d like to know more about the process, the market, or what to expect when buying or selling a home, we’re here to help! Call 918-417-6288 or email hht@cbtulsa.com!

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