Waiting for a "Deal" on a House? Here is Why We Need to Define What That Means

Welcome back to another episode of Real Estate Real Talk with me, Jennie Wolek, and Brittany Whinery! The other day at our team meeting, one of our team members at The Wolek Group mentioned she had a buyer who was looking to buy, but they were just waiting for a deal.

This sparked a major conversation for us. We started itching to ask questions because we really wanted them to define their deal and what that meant to them. We hear that phrase pretty often, and as real estate agents, what we perceive as a deal might be completely different from what a deal means to you!

If you are entering the real estate market, here is why we at The Wolek Group need to define your deal before we start shopping.

Deal Type 1: The Lowest Price (Beware the Auction Effect!)

When we think of a deal, we obviously probably start with the price.

However, low prices often come with hidden strings. We actually listed a deal recently over in Broken Arrow, and within two days we had eight offers! Why was it a deal? It was a low price based on other homes in the area, but it needed a lot of exterior maintenance, buyers weren't aware of the age of the major units, and it probably needed to be a cash buyer. In the end, the price went up.

Something to remember is that if a home is priced correctly or just below current market value, everyone else is going to see it as a good deal too! That ends up driving up the price in an auction-like environment.

Deal Type 2: A Smooth, Hassle-Free Process

For many of our buyers, a deal has nothing to do with getting a massive discount; they just want a smooth process or the ease of a transaction.

Something to keep it in a smoother timeline would be having a home that has maybe newer major components, like a newer roof or a newer HVAC. While the price is always a factor, what matters more to them is just the ease of the process with less hassles and stress along the way.

Deal Type 3: The Perfect Timeline

Finally, a deal can be defined by how well the timeline fits your life.

• The Fast Move: We've had clients moving here that were going to be homeless in 30 days if we didn't find something that weekend.
  
  
• The Slow Move: We've also had clients moving from out of state that would like to close in 60 or 90 days.
  
  

This timeline can be a big factor, especially if you are currently paying rent somewhere and you don't want to pay rent and a mortgage at the same time. We can help you strategize that!

It All Starts With a Consultation

Everything really just starts with more and better conversations.

Our biggest tip is to be open with whoever you're talking to as your trusted real estate advisor. You really need to chat through the details of your plans and trust that we are going to help you with options to make it smooth and seamless. At the end of the day, it's not that we just sell houses; we really help solve problems! If you aren't open to sharing your concerns and your goals, then we can't best help you with that.