Not everything a real estate agent tells you is accurate. How do we know that? We have often been someone’s second real estate agent on a listing and heard the bad advice given. Or we might be the second real estate agent you hire to help you find your dream home when the other agent couldn’t make it work out.
Why do real estate agents give sugar-coated promises? Because they will do anything to secure the listing but haven’t thought through how they will sell your house with these false hopes. Or they think you will figure out you can’t afford what you want.
#1: They are willing to price your house much higher
A great real estate agent shares the recently sold comparables to your home so you know HOW they are coming up with a listing price for your home. If one of the agents you’re interviewing has a number that is 100k over every other sale – RUN.
This sugar-coated promise of “I can get you all this money!” will not pan out. Instead, you’ll be on the market a lot longer, making multiple price reductions and then likely selling for less than what another agent initially told you.
Dust the sugar off, and don’t get caught in the overpricing trap.
#2: Champagne Dreams on a Beer Budget
Many real estate agents are afraid to tell you that you cannot afford the house you want. When we meet new homebuyers, we review their wants and dealbreakers in homes and neighborhoods. Then, we candidly discuss whether this is realistic or just a fantasy.
Frequently, we have to be the bearer of bad news and tell these potential homebuyers they aren’t going to get it all. They can pick location over condition, price over condition, etc. But sadly, we are the ones to rain on your parade. (JUST A LITTLE BIT!)
There are times when we know we can help a homebuyer check a lot of things off their list – but we will never lie to you about the reality of the market and what your budget allows!
#3: They can sell your house in X amount of time
As of late August 2023, it would not be very reasonable for ANY real estate agent to promise they can sell your house in a certain time frame. The market is strange. We have some houses that we thought would sell quickly that have ended up rotting away on the market. At the same time, other houses that should be sitting for various reasons have gone under contract at lightning speed.
If any agent is making you this sugar-coated promise, you should maybe interview a few more and see what they say about the New Orleans real estate market in its current state.
#4: Making promises of a house’s value in a few years
If your real estate agent is telling you a house right now is guaranteed to be worth SO MUCH more money in a few years – I am going to politely ask you to walk away. None of us have a crystal ball, and we certainly cannot predict where the New Orleans housing market is headed.
While we can talk about trends, and buying a house that needs “sweat equity” so you can add value is one thing. But making promises on future value is just crazy talk right now.
As your REALTOR®, we will never make sugar-coated promises. If anything, we might be a little too honest for your liking some days. However, we want you to be educated about the home buying and selling process and not have any false hopes!
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Biggest Bank for Your Buck: Houses $200k & Below