Managing Expectations – A Key to a Successful and Happy Real Estate Transaction (Life)

By
Real Estate Agent with Keller Williams of Central PA East
http://actvra.in/nnV

Managing expectations is a key to a successful real estate transaction and more importantly to enjoying your life. Why do I say this?

Yesterday I had a wonderful day. It went according to my plan. I mowed the lawn and applied my late fall/winter fertilizer application. I spent time on my blog site, Active Rain. I completed the sermon I was to give today and last night Lorie and I went to Salad Works for supper. The evening was capped off clothes shopping, something I dread, but was quite successful. The only downer was watching my Iowa Hawkeyes lose to Michigan State Spartans.Managing Expectations – A Key to a Successful and Happy Real Estate Transaction (Life)

In thinking through why I enjoyed yesterday so much, I realized the day met my expectations or even exceeded them. How does that occur in a real estate transaction? If you are buying or selling property, it is important to have your expectations set according to realistic outcomes. What is a realistic selling price for the home you have for sale or desire to buy? I have worked with sellers who did not have realistic expectations on the selling price. Comparable sales did not seem to sway them and their opinion of what their home was worth. I have also worked with buyers who seem to think the only good buy is one where they actually steal the property from the seller. A successful real estate transaction requires the buyer and seller to have realistic expectations.

It is also important to manage your expectations when buying a home. What can you afford? Are you comfortable with the payments you will have for the home you would like to buy? What amenities would you like and is it realistic to believe you will get them at the price point you can afford? These questions highlight the importance of getting preapproved by a qualified lender. It is also important to learn about the real estate market from a good real estate agent. Having realistic expectations is an important step in having a successful real estate transaction.

Give me a call if you want to learn more about the real estate market.

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Living in Lancaster Group

 

An agent who places your interests as his first priority. 
Cal Yoder

Your Homes for Sale in Lancaster Agent

Keller Williams Realty Lancaster

1630 Manheim Pike

Lancaster, PA 17601

Office Phone: 717-735-1145

Cell Phone: 717-413-0744

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Ambassador
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Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Another key in managing expectations is to explain the inspection process so that they know to expect things that are wrong with a house. They are not looking for a perfect home. Such a home does not exist! They are making sure that there are no crazy surprises that they have to deal with. Great post!

Nov 13, 2011 04:00 PM #1
Rainmaker
499,457
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Joni, so true. Helping buyers know what to expect throughout the entire transaction is so important. Thanks for your insights.

Cal

Nov 13, 2011 04:37 PM #2
Rainmaker
1,292,028
Wanda Kubat-Nerdin
Prado & Kramer Real Estate, St. George, UT 84770 - Saint George, UT
Your Preferred St. George Area Real Estate Agent.

I enjoyed your post Cal! When a buyer wants to lowball an already well-priced property, it is almost sure they will not be successful and an informed buyer will take the prize. Even though some buyers may already know this, it is good to talk it over before the offer is made and time is wasted.

Nov 13, 2011 09:03 PM #3
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Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

Oh Cal... I have visions of the next time someone gives me poor service of rolling my eyes and saying "well that didn't meet my minimum expectations"  Perhaps when I call AT&T tomorrow... got a bill... it is wrong.

 

Nov 13, 2011 09:22 PM #4
Rainmaker
499,457
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Wanda, spoken like the expert you are!

Cal

Nov 14, 2011 05:46 AM #5
Rainmaker
499,457
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Ugh Tammy. This is the saga which never seems to end! Best of luck!

Cal

Nov 14, 2011 05:47 AM #6
Rainmaker
419,506
The Scott Loper Team Lansdale & Harleysville PA Homes
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Cal,

No truer words have ever been spoken.  You have to manage expectations effectively in this business or you can lose a lot of clients and spin your wheels along the way.

Lisa

Nov 14, 2011 09:22 AM #7
Rainmaker
960,919
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Cal - You Said  "It is also important to manage your expectations when buying a home" 

how true and how often we see expectations that are unmatched by abilitry to pay.

Nov 14, 2011 02:23 PM #8
Rainmaker
499,457
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Lisa, I find I am as much a psychologist as any thing else.

Cal

Nov 14, 2011 05:16 PM #9
Rainmaker
499,457
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Kathy, Oh yes. The expectation of paying for the home and sometimes the home search process helps buyers come to their senses or else they must be cut loose.

Cal

Nov 14, 2011 05:19 PM #10
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Cal Yoder

Homes For Sale in Lancaster PA - 717.413.0744
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