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Patience, Perseverance and No Panic When Buying or Selling a Home

09/21/2021
Beautiful Home Li

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Buying or selling a home in the current market requires knowledge and perseverance, the ability to move quickly when you need to but, when it’s called for, to be patient. It takes research and negotiating skills and, in many cases, a little bit of luck. We can’t really help with that last part, but when it comes to understanding, experience, insights into Long Island real estate and inspiring words to help you through whichever side of the transaction you find yourself (and we know it could be both!), we have brought together a trio of real estate insiders to share thoughts on topics from pricing your property correctly to the power of not panicking when it comes to finding a home. 

Angellaharris
ANGELLA TCHIREMU
HomeSmart Cross Island Real Estate

Buyers, be prepared with solid financing and realize that, in this seller’s market, the asking price is often just the starting point. Do not become discouraged if you are faced with numerous offers being rejected—continue to be diligent in your home search and you will eventually prevail.

Sellers, don’t be overly aggressive in pricing your home. Pricing your home at the suggested Comparative Market Value will draw the maximum credible buyers to your property, and will generate maximum competition. This will lead to more offers and offers well over the asking price.

Graceslezak (1)
GRACE SELZNAK
Destiny International Realty

Whether it’s commodities, stocks, all the markets are a little erratic right now—I just think real estate is topping the erratic list. Don’t panic. Yes, there are situations where people are lining up around the block and there are 30 offers on a house, and obviously only one can get it. People are bidding over ask, and even then they aren’t necessarily getting it. But don’t panic. It’s not the last house on the planet.

I can understand sellers being worried about the fact that, ‘If I sell my house, where am I going to buy?’ It’s a really difficult time, because there is such a shortage on inventory—there is such an unrealistic and unprecedented ratio between the buyers and sellers, and this is creating a very unrealistic situation. My advice for them is the same: Don’t panic.

Kenkroncke
KENNETH KRONCKE
Realty Connect USA

For buyers, you have to be open-minded. What you think you’re going to get is probably not what you’re going to wind up with. Be open to different styles of homes and locations.

Sellers, your highest offer is not always your best offer. Terms—such as appraisal, down payment, flexibility—are so important in today’s market.