March Madness. Are you knowledgeable about that process? Did you play basketball? Are you involved in picking brackets or are you an occasional spectator?
The NCAA uses a Net ranking tool called the NCAA Evaluation tool to help determine those teams selected, outside of those selected based on their record for the year. It’s so complex, that it takes more time than most people would willingly dedicate to it. Of course, we all have our favorite teams that we believe should be included. Unfortunately, though emotions run high, it’s a much more complicated process.
Those same questions apply to real estate. The majority would respond they fall somewhere in the middle when it comes to general real estate knowledge and professionals working both in front and behind the scenes make sure things progress smoothly.
The task of “getting started” seems the most daunting for buyers. How do I find a lender or which one should I use? That first step seems the most frightening, but frequently the simplest to begin.
Home shopping is often perceived as enjoyable. However, the reality can differ once a buyer steps through the front door of a property. Features that were once deemed essential may shift in importance, and emotions can heavily influence perceptions.
Questions about pricing, negotiations, and contractual challenges inevitably arise. Negotiating repairs, dealing with uncooperative sellers, and navigating potential setbacks are all part of the journey.
Appraisals are a crucial stage in many transactions as well. What if the appraisal comes in low, or if specific repairs are required due to the type of loan? These are just a few of the challenges buyers may face.
Meanwhile, the buyer is also preparing to move. Packing, making a possible job or school change, or even city or state. They still must live their day-to-day social, personal, and work lives plus follow all the performance deadlines of a contract to not lose their earnest money. Most importantly, the buyer will be submitting the required information and documents to the lender to advance to that most important bracket, closing on their new home.
The final “bracket” involves revisiting repairs to make sure they’re complete, scheduling a closing time, reviewing closing documents, wiring funds, walking through one last time, and still maintaining a normal life schedule.
March madness and real estate transactions. One uses technology and experience to make decisions, and it plays out. The other uses technology and a professional’s expertise but is hardly left alone to play out. It requires constant observation, coordination, and procedures to make sure the buyer is the winner of the final bracket.
Real estate doesn’t have to be like March Madness. A professional Realtor can alleviate much of the stress, so the buyer can focus on winning in their new home.
Deanne Nelson is the Broker Owner of New Key Realty in Nashville TN. Her passion for real estate started 17 years ago when she decided to pursue it as her career. She carries a license in both TN & FL. Deanne fell in love with Tennessee in the early 90s, moved here and is a graduate of Belmont University. Deanne currently serves on various committees & is Chair of the Membership Committee at Greater Nashville Realtors. She intends to give back to the community by being a positive influence & impact within the real estate industry for the consumer and other agents.
