Never fear, that hasn’t changed. What I’m about to share is what I’ve seen and heard throughout my career. The good news for you is that, once you’ve read this piece, you’ll be armed and dangerous. No more surprises for you, no sir.
On this site? Here’s where things get down to the nitty-gritty, as my Grandma used to say. On this blog, I’ll go behind the curtain to show you what’s really happening in the crazy world of real estate.
I’ll also tell you how I really feel. No holds barred. No rules, just rightTM.
With that in mind, today’s topic is Top 12 Things Realtors Hate About Home Buyers.
Welcome to my third and final piece to the puzzle on the Psychology of Marketing Real Estate. This time we’ll be looking at the “where.” If you missed either of the first two parts, I’ve linked them here.
Where Part 1: Who looked at the people involved in the real estate process and Part 2: What looked at the home itself, today we’re going to focus on the places or locations where the actually marketing will take place. It’s traditionally the kind of real estate promotion that we’re all familiar with.
If you didn’t check out Part 1 in this series—the Psychology of Marketing Real Estate—I encourage you do so. We started with the most important ingredient, people, and now we’re moving on to the physical product itself… the home!
There’s a great deal that goes into a purchase decision involving a new home. First off, it’s one of the largest investments most of us make in our lifetimes. That, by itself, is enough to set many folks trembling.
Yet besides the money, there are a large number of complex emotions that also come into play. As with anything that we humans interact with, things can get complicated quickly.
As with any business where humans participate, there is a psychology involved. Real estate is no different.
In fact, it’s more varied and diverse because there are a larger number of roles interacting with the buying or selling of properties.
In this article, I’m going to look at the psychology of marketing real estate from the Listing Agent’s perspective. While in my home city’s market is tilted towards home sellers just a few short years back this wasn’t the case.
And even expert Realtors can learn a thing or two when it comes to such an incredible complex entity we call home buyers.
In this world nothing can be said to be certain, except death and taxes. – Benjamin Franklin
Today’s tax environment gives new meaning to his nickname, Poor Richard. Am I right?
Once new tax systems are instituted our government is jealous to keep them in place. Sure, taxes may drop for a season but they’ll be back.
Now, property taxes may be some of the most irrational of all taxes. Stop and think about it. You’ve already paid some kind of tax when the purchase took place but the government isn’t satisfied, not while you still have more money they can take.
Property taxes too high? Should you throw your hands up and give in? This reminds me of another quote.
Don’t give up. Don’t ever give up. – Jimmy Valvano
I wrote on this topic back in 2011 when the WSJ quoted Jim Kane as saying, “More than half of homeowners are paying too much in property taxes.” What was true then may still be true for you today.
But how do you know?
Step 1: Determine Market Value
In order to learn if your property taxes are too high, we need to learn true market value. Having an appraisal done will give you a value but before you decide to pay $400-$500 to an appraiser, call your trusted Realtor to do a manually adjusted competitive market analysis (CMA) before you spend any dollars. A quality Realtor, who wants your business in the future, will do this for free.
The manually adjusted process is the same one an appraiser will use. Many times a diligent agent will produce a more accurate value than the appraiser.
If it turns out your home’s current market value is less than your tax assessment, contact your PVA and ask for an adjustment. This should cost you nothing and could save you hundreds, maybe even a thousand dollars a year.
Step 2: Appeal the Decision
What happens if the PVA refuses to budge? Remember Jimmy’s words, don’t give up! Pack up your documentation and appear before the Board of Commissioners in person and state your case.
Believe me, it’s worth the time you invest because the assessed value is often used for 2-3 years before a new adjustment is made.
I’ve seen enough cases where the value was reduced to know that many local tax assessment organizations can be reasonable, if approached through the property channels and with the appropriate attitude.