Knee knocker: Casually stepping into the buying market and what to expect

In ABC's of Real Estate, Buyers by Doug Phelps

For those not up on their golf lingo, a knee knocker is a short, 2-3 foot putt that a golfer has to make.  While it seems like a simple putt and something that should come easily to a golfer, when this short and simple putt is missed it is understandably a fiasco.  While it seems that a golfer should never miss such a simple shot, this short putt is actually missed quite a bit. Possibly because it is a victim of over-thinking or under-thinking the strategy, the knee knocker is a good example of something small that can derail the whole game.  Like a knee knocker, there are many small details in the housing market that can derail a whole strategy. But not to worry, a realtor can help to avoid these small, yet monumental hiccups.  

Welcome to the housing market! As you may know, it can be fast moving and there can be many details to coordinate which is why it is crucial to have a great realtor.  Even better is a realtor who specializes in the house or market type you are looking for, because he or she knows specifics that other realtors may miss. For example, if you are looking for a golf course home in Colorado, contact me as this is the market I specialize in.  Even for buyers who are stepping into the market more casually, it is still key that a knowledgeable realtor guide the process to help buyers miss hiccups that may derail the experience and end up costing serious money. A few examples of this may include:

  • Timing:
    If the first rule of real estate is location, location, location; then the second rule is timing.  Especially in competitive markets like the Denver metro area, timing is everything when finding a home.  A great realtor will be in-tune to what you are looking for and will have an eagle eye on anything that may match that criteria.  Swooping in on available property as soon as it hits the market is the difference between being able to submit and offer and crying over a lost opportunity.  Timing is also crucial if you and your family need to move soon and you’re looking for a specific closing date range. A final way that timing is key is scheduling things like inspections and walk-throughs on time, allowing for any back and forth and taking into consideration the busy schedules of inspectors so that everything gets checked off the list in time.  
  • Negotiation: Some people really pride themselves on their negotiation skills but a realtor is specifically skilled in all negotiations pertaining to real estate transactions.  A realtor can advise that giving a bit of leeway during the inspection for example, while the other party pays closing costs may be a more financially sound offer.  A realtor can also negotiate back and forth as long as it takes to get the final price to a reasonable budget whereas the average home buyer doesn’t have the market knowledge, and that kind of time due to family commitments, a full-time job, and other activities involved in buying a home and moving.  
  • Suggestions:
    Many people shop for homes emotionally whereas a realtor is completely professional and business-minded.  Shopping emotionally may cause a buyer to overpay or miss deadlines and that is what a realtor will help to avoid.  The stakes are high. A realtor will keep things into perspective and offer suggestions to help meet the overall objectives of the buyer.  

When you’re ready to begin your home search, contact me at (720) 323-4176, I’d love the chance to help you caddy your home search! – Doug