REALTOR(R) Intuition (January 6, 2018)

    By Russ Meyer, Nebraska Homes Sales REALTOR®

     

    I see a lot of houses. I’ve heard a lot of stories from other REALTOR®. REALTOR® develop an intuition based on their experiences, their knowledge of walking through hundreds of homes a year, and their knowledge of the market.

    Savvy clients will use a REALTOR® who has access to this body of knowledge and experience, both their own and that of their fellow agents. When I walk into a client’s home (Could this be you?), I bring all of this with me so that I provide you, the client, with the best information available.

    Two quick stories…A brand new house (6 years old), the sellers discover the foundation was poured on frozen water. They’ve experienced massive heaving, cracking, and settling of the house. This had been their dream home turned nightmare. The floors were like foothills, the electrical wires were arcing and sparking in the walls. The roof had opened up to the sky. Nope, I’m not exaggerating. If the house had been in good condition, my market analysis valued it at $180,000. The seller’s own bids for fixing the problems were about $120,000. My sellers thought they would be lucky to sell the home for $60,000 and had prepared their lender for the worst.

    My intuition told me the house was still worth more than $60,000 even in it’s broken condition, It still looked nice, and many things could be fixed. I suspected market conditions could get us more than expected. We listed it for $120,000, with full disclosures. We got $120,000 from a cash buyer. Sellers trusted their Realtor and were overjoyed. Lender? Pleased.

    Second story…This last summer, I listed a house, cute as a button, in a seller’s market. My intuition said that we would have multiple offers and that the sellers would sell for more than the listing price. It went on the market on a Friday; we reviewed offers on Sunday…all eight of them. The sellers accepted an offer for 10% more than list price.

    Is REALTOR® intuition perfect? No, but if you trust it, 9 times out of 10, your REALTOR’s ® experience and knowledge are going to help you have a better transaction than you would have without them.

    Trackback from your site.

    Leave a Reply