Biggest First-Time Homebuyer Mistakes-According to Real Estate Agents

biggest mistakes first-time homebuyers make

Real Estate agents respond to poll asking What Are the Biggest First-Time Homebuyer Mistakes

Inman News, a provider of real estate information, recently conducted a poll asking agents “What Are the Biggest First-Time Homebuyer Mistakes” they have seen in their careers.
Close to 600 agents responded. Here in order are some of the top results, and a few take-away points we’ve have added:

  1. Not Talking to a Lender First: This was the biggest mistake according to 60% of respondents.
  2. Waiting Too Long to Make an Offer: In a predominantly seller’s market the old saying “You Snooze … You Lose” applies.
  3. Making Unrealistic Low-Ball Offers in a Seller’s Market: See How to Determine if You’re in a Buyers or Sellers Market
  4. Giving Too Much Attention to Online Value Estimates (can you say Zillow?) See “Should You Trust Zillow Zestimates?”
  5. Looking at Homes Beyond their Price Range

HGTVThe HGTV Effect on Buying a Home

Some agents reported the challenge of battling the “HGTV Experience,” which paints a much prettier (and much edited) picture of the homebuying experience. One agent said, They (Buyers) expect the process to go smoothly and are not prepared for the unexpected occurrences that pop up in the contract negotiations.” One thing we at Finding Homes for You can say with certainty is that every real estate purchase is a unique experience. Buying or selling a home is an emotional experience which can bring out the surprising sides of people and their behaviors. (That was diplomatic wasn’t it?)

Suggestions

The agents who responded to this poll suggested that first-time buyers research agents rather than choose the first one they see on Zillow, social media or on a billboard.  Once you’ve chosen an agent … listen to their advice whether it is about lenders, price, offers, and current market conditions.  It’s what they do, and they do it every day.  If you have a slight distrust of realtors, you may want to check out an Exclusive Buyer Agent company like ours that only works for buyers.  See Wikipedia for Definition We never represent a seller or even take listings.  We are in from the beginning to the end working only for you the buyer. When you think about it, every seller has an agent representing them …  shouldn’t you the buyer, have one too? Explore the Concept Here  Call 636-532-4200 to chat about local market conditions.

 

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