The real estate market has always fluctuated, with various issues impacting how economists view the strength of the real estate industry as a whole. In a recent study, several housing markets, including the Tampa-St. Petersburg market, were considered overvalued, meaning the prices were not sustainable long-term. This news has started to alarm both buyers and sellers, encouraging some to hurry forward with their real estate transactions. Buyers worry that they will have a harder time qualifying for a mortgage in the future, while sellers are concerned the number of buyers will drop. Unfortunately, even though a seller might worry about being able to find a buyer for their home quickly, they still might be tempted to ignore their realtor’s advice for a variety of reasons.
Lack of Trust
Some home sellers simply do not trust real estate agents. Today’s do-it-yourself mentality has led to many people believing they can handle legal transactions themselves. However, when they fail to have luck selling their property on their own or become overwhelmed with the process, they reluctantly turn to a real estate agent whom they do not necessarily trust. This lack of trust combined with the idea that they know as much (or more) than their realtor creates an almost toxic atmosphere that makes selling a home difficult or outright impossible.
Preparing a home for the real estate market is not an easy task. Before listing a property, most real estate agents want the home cleaned, faulty appliances replaced, the exterior or interior pressure washed or painted, and most personal items packed up. Some home sellers do not want to be bothered with doing any of these things until they receive an offer they like. While some might have a legitimate reason for wanting to hold off on tackling major home changes, others simply do not want to be bothered with any hard work until they feel it is worth their while. This attitude makes it hard to put a home on the market and even harder to find a buyer.
The primary reason a buyer will ignore the advice of their realtor is because of money. Either they do not want to spend money or they want to receive more money. This attitude will cause a seller to refuse to make certain upgrades on a home to increase market value because they do not want to make any more out-of-pocket investments in the property. It will also lead to the seller rejecting reasonable early offers in the hopes of receiving a higher offer in the future, even if their realtor assures them that they should accept an offer that was made.
Adam Law Group
Dealing with a stubborn seller is time consuming, but has the potential to be rewarding. The team at Adam Law Group understands this and we are here to provide you with real estate legal assistance allowing you to focus on the seller while we handle the legal aspects of the transaction. Contact our office today at 904-329-7249 to schedule an appointment so that we can begin discussing your needs.