5 Irrefutable Laws of Real Estate

There are lessons and old sayings in life that have been passed down from generation to generation. These sayings or lessons were true back then, and they are still true today. I would like to share a few with you that are a few of MY irrefutable laws of real estate.

1) Have you heard the saying, “Always buy location.”? No other criteria come close. If you bought a house that backs to a busy street, you’d be feeling the effects of that financial decision when the time comes to sell.
2) You have heard the saying, “A watched pot never boils.” This applies to real estate. If you are watching your email, holding tightly to your phone just waiting hour by hour for the next showing, appointment, or an offer, you are holding on too tight. Relax, trust the process; let the people you hired, time, pricing, and good marketing do their thing. If you have priced it right, it shows great, and you hired the right real estate team, then the house will sell. You obsess over it do not make it sell any faster.
3) Have you heard the saying, “Don’t sweat the small stuff”? Let’s say your listing in the MLS didn’t say anything about the neighborhood block party that happens every summer and you think that it is a big difference maker in selling your home. I am here to tell you that it’s not. Location, finishes, layout, and price are the BIG FOUR decision makers when a buyer is considering purchasing your home.
4) Have you heard the saying, “Be careful of people who tell you what you want to hear.”? This is a biggie in real estate and primarily comes up with pricing a home. A homeowner who believes that his home is worth XXXXX interviews as many Realtors as necessary to find someone who will tell him that his number is spot on. This is a recipe for disaster and the home almost never sells. Get comfortable with people that say good data-driven information that vaults you out of your comfort zone.
5) Have you heard the saying, “Sound advice is just that… sound advice whether you agree with it or not.” One of the frustrating aspects of our business is that we give our clients sound, data-driven advice that is sometimes ignored. Moreover, the advice comes from selling 100 or more homes a year. Our intent is for “the best interest of our client.” If you’re working with an agent that is in the top 1% of their profession, chances are they are not selling 100 homes a year because they are lucky. They are selling 100 homes per year because they are great at what they do. With that, take their advice! More often than not, these days we see more and more people make bad decisions that hurt them financially.

Finally, it’s important to remember that we are living in a very contentious and litigious society. It’s paramount that you have a Realtor in your corner representing your best interest at all times.

Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact the Colorado Dream House Team at 720-446-6325, Follow us on TwitterLike us on FacebookWatch us on YouTube

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