Why Your Realtor May Say "You're FIRED!" www.thelasvegasluxuryhomepro.com /blog/reasons-smart-realtors-tell-clients-youre-fired.html

The "Do Not" List When Buying & Selling Your Home

The Real Estate profession attracts a variety of personalities. Most who succeed in real estate do sobecause they care about helping their clients. Having to "fire" a client is not something agents look forwardto. In fact, we may go out of our way to avoid firing a difficult client.

Realtors don't get paid until you buy or sell your home. They have no choice but to fire clients who insiston counter-productive tactics. These are some things to avoid if you don't want to hear "You're Fired!"

Realistic Buyers & Sellers Finish First

Buying a home canbe similar to buying acar. Look at thepayment estimator onthe website for aluxury car like Lexusor Mercedes. Ask fora vehicle you can buyor lease for$250/month with nomoney down. Youget zero results.

The same is truewhen buying ahome. If you want ahome with a pool inthe most populararea, you won't find itfor the economy price.

An experienced Realtor will help you understand the current market. They'll help you decide how much tooffer. When the offer is accepted they will guide you through each step of the home buying process.

If you insist on making a lowball offer, your Realtor may let you try it once or twice. Sellers may counteror simply reject low ball offers. While you're waiting for the seller's response, another buyer may comealong and make a better offer. If you continue making lowball offers, smart agents will stop wasting theirtime on you.

The Price isn't RIGHT! When marketing homes for sale, Realtors invest their time and money. Professional photographs, virtual tours and advertising expenses can add up. The best marketing in theworld won't sell a home if the price isn't right. Many Realtors reject over-priced listings rather thanwasting their time and money.

If you disagree with the price your Realtor suggests, let them know you disagree but give them a chance

to show how they arrived at the price. Remember, even Zillow admits they are not 100% accurate . Ifyour Realtor has comps supporting their price, chances are good your Realtor is right and the onlineevaluation is off. Remember, the online valuations have not seen your home or the comps.

Time is of the Essence

One of the most frustrating clients Realtorsencounter is the one who ignores thepaperwork. When you're buying a home, notperforming in a timely manner can haveconsequences. Some of the most challengingclients are the ones who procrastinate until thelast minute. Missed deadlines can put dealsin jeopardy. They may even trigger penaltiessuch as a per diem for closing delays.

Buyers who fail to have inspections performedduring the due diligence period may waivetheir right to do them. Once the due diligenceperiod has passed, contingencies based oninspections are considered removed.

If you're buying a home in a Homeowner's Association, take time to review the HOA documents as soonas you receive them. The HOA documents are an important contingency. If you find them objectionableyou must cancel within the specified time frame. In Nevada, buyers have 5 days to review the HOAdocuments. Find something objectionable? You can cancel within the five day period and get yourdeposit back. Wait longer and your EMD is at risk.

Loan Documents are necessary. Providing all necessary documents to the lender is another area wheredelaying can cause problems. Today's underwriters must follow stricter guidelines. Once they review theinitial documents, they will usually have another list of items for the buyer to provide. The new documentsmay lead to requests for more. Buyers who delay getting items to the lender may not get their loanapproved in time.

Sellers must co-operate with the time frame. Those who don't allow buyers access for inspections andappraisals can put themselves at risk. HOA documents need to be ordered so the buyer has time to reviewthem. Disclosures need to be completed, signed and provided to the buyers. Delays in these areas candelay closing.

One of the most common problems with sellers is not moving out in time. Most Las Vegas escrowsclose in 30-45 days. The buyer is entitled to a "Final Walk Thru". In order for the buyer to do their walkthru, you need to move out. Start packing as soon as you accept the offer. It's a good idea to schedulemoving out after they've performed inspections and removed contingencies. You must be out beforeclosing so the buyer can do their final walk thru. If necessary, you can put your possessions in storage.

How Much Home Can You Afford?

Most Realtorshave at least acouple ofexperiences withunqualifiedbuyers. Newbieagents may betimid aboutgetting buyerspre-approvedbefore showingthem homes. Experiencedagents mayoccasionally havea client who has apre-approval butsomething getsthem dis-approved.

Few things aremore frustratingthan spending days chauffeuring a buyer all over town only to find out they can't buy a home. It'sfrustrating for the Realtor who could have used the time for other activities. It's embarrassing andfrustrating for the buyer who finds their dream home only to learn they can't buy it. The embarrassmentand frustration can easily be avoided by finding out how much house you can afford before going to look athomes.

New agents may be willing to take a chance showing homes to buyers without pre-approvals. This isn't agood idea. There are better ways to get to know the neighborhoods. Try previewing homes for sale,attend broker opens and network with experienced agents. Letting a buyer into the car is a liability for anyagent. Realtor safety is one concern. Have an accident with a buyer in the car and insurance canskyrocket. Agents shouldn't risk taking out a buyer who isn't pre-approved.

Many of today's sellers demand that buyers be pre-qualified before they can see their home. This isdefinitely true in the luxury home market. High end home owners are not only concerned that unqualifiedbuyers will waste their time. It becomes a security concern. Luxury home buyer paying cash? Sellers willwant to see a proof of funds or letter from the buyer's financial institution to verify that the buyer can affordthe home.

Buyers who will not get a pre-approval or provide a proof of funds will find themselves low on the totempole with top agents. This is true in any price range. It's more important in the luxury home market. Overthe years, I've had many calls from buyers who want to see high end homes. Legitimate buyersunderstand when asked for a pre-approval or proof of funds. Most would expect the same from buyersviewing their home. A simple letter from a financial advisor can verify your assets without revealingaccount numbers or your identity.

Federal Fair Housing Laws Must Be Followed

If you suggest that you'd prefer buyers of a certain nationality, religion, etc., a smart agent will not list

your home. Aiding a seller who wants to discriminate is one of the easiest ways for a Realtor tojeopardize their license. Not to mention they can get stuck with huge fines. You can also be liable if youare found guilty of discrimination.

Most sellers are more concerned about getting the best price for their home than trying to pick andchoose the buyer. They focus on the buyer's financial qualifications instead of color or religion. Experienced Realtors inform sellers that they follow Federal Fair Housing Laws and walk away fromsellers who insist that their home should only be shown to "x" buyers.

Buyers who want to be in a neighborhood that's predominantly a particular race are another form ofdiscrimination. Fair housing laws prevent Realtors from steering buyers to or from specific neighborhoods . This means Realtors cannot tell you that a neighborhood is or isn't "safe".

Realtors can suggest you consult with the local Police Department. In Las Vegas, the official Metro PoliceDepartment website has a crime mapping tool . Besides researching online, it's always a good idea forbuyers to drive by properties that interest them at various hours. Even in the best area, you can find thatneighbor who likes to have parties until 5:00 a.m. These are little details that even the best Realtor won'tknow.

How toSucceed WhenBuying andSelling YourHome

Our Realtor friend,Bill Gassett wrote agreat article "10Things Buyers Dothat Realtor Hate". When I read thearticle, I had to smilebecause he capturedthings that Realtorsfind irritating. Thereason the 10 thingsare so annoying isthey are sure fireways to fail.

If you insist on sabotaging the Realtor's efforts, your agent will not only be annoyed but you won'tsucceed in buying or selling your home as easily as you could have. Realtors deal with home buyers andsellers everyday. If your Realtor is getting annoyed, your actions may be like shooting yourself in the foot.

Debbie Drummond is a Full Time Realtorwith over ten years experience in the LasVegas Real Estate Market. She and herteam of Real Estate Pros offer thehighest level of service. If you’re buyingor selling a Las Vegas home, call

(702)354-6900 or email Debbie@LVHomePro.com. They’ll be happy to assist you in your move.