All residential property buyers and sellers expect to arrive at the closing table without having experienced any hiccups or erratic situations. After all, the median price for a home for sale in Irvine was higher than $675,000 in 2017, which means a single mistake in this housing market could be very costly. The complexity of real estate transactions makes them vulnerable to potential mistakes, which explains why real estate brokerages carry errors and omissions insurance policies. If you notice any of the following situations in your real estate transaction, make sure to bring it to the attention of your agent and all other parties involved.
1. Improper Listing Language
In recent years, Google has evaluated how syntax and grammar shapes the browsing experience. This research has determined that internet users take an immediate dislike to content that presents spelling errors and grammatical mistakes. When real estate agents are in a rush, they may upload a new entry to the MLS without proofreading.
2. Deficient Neighborhood Descriptions
As dynamic as the real estate market is, there is a constant tenet that should always be heeded: location is everything. Listing agents who fail to provide informative and enticing neighborhood descriptions are doing a disservice to buyers and sellers. The best descriptions are detailed to the point that they explain how long it takes to walk to the nearest coffee shop or the spot where public school buses wait for students. The worst descriptions are those that simply copy and paste raw data about demographics, crime statistics, and average temperatures.
3. Poor Matchmaking
Not all modern homebuyers feel comfortable with browsing online listings and selecting a few properties to visit. Prospective buyers who are new to Irvine may want to approach the market in a more traditional manner, one that includes getting the professional opinion of agents about housing options that fit into their lifestyle and financial goals. Real estate agents who simply present listings without asking questions that assess individual needs are making a mistake by not providing adequate service.
4. Incorrect Housing Costs
Real estate agents these days should be able to use home affordability calculators and discuss the various factors involved in determining how much buyers can truly afford. Even though the calculation of real housing costs is more closely related to the duties of mortgage loan officers, this is a topic real estate agents should be able to realistically discuss with their clients.
5. Lack of Specialized Information
Many real estate agents who aim to be jacks of all trades end up becoming masters of none. For example, an agent who is not familiar with the FHA or VA loan process may talk a client into accepting a bid from a buyer whose mortgage approval process will take longer than expected. Another example would be not being able to locate information about affordable housing assistance available from state or municipal sources.
If you want to find a real estate in Irvine who has the experience and expertise to find you the property you’re looking for, get in touch with the trusted agents at OC Residential. Call 714-454-6304 today to schedule an appointment and begin your search.