On The Level - The Home Improvement Blog
Category
Blogger
Date
About our bloggers
Contact our bloggers
College Park Home College Park Home
Orlando Home For Sale This home is for sale in Orlando and is the inspiration for this blog.

Real Estate Vernacular

 
I recently put my Florida home on the market and am so frustrated with the real estate dance. Here's the deal: When someone visits your home, the Realtor generally gets feedback from the buyer's agent. This feedback is usually filled with non descriptive terms so as not to offend the seller or give them false hope. Then your agent translates that message to you. Unfortunately, with one Realtor watering down and another translating, you the seller are often left in a total state of confusion. Did they like my house? Is it going to sell?

Here is a simple guide/translation for Realtors and homeowners that I've discovered/created. Hopefully it will help prevent any party from taking offense or getting confused or mistaken.

Scenario: Your home has just been shown. You ask your Realtor, "How did it go?" Your Realtor answers:

1. Amazing = Buyer paying cash; wants to close as soon as you can get your stuff out.

2. Awesome = Buyer pre-approved for a loan, in your price range and has money ready for escrow.

3. Great = Buyer ready to make an offer; looking for financing.

4. Very good = Buyer close to making offer.

5. Good = buyer wants to make an offer but needs to wait for additional family member to see property.

6. OK = Buyer likes the house but has issues that can be overcome.

7. Not bad = Buyer liked the house but has just started looking.

8. So-so = Buyer liked the home but can't get financing or house out of price range.

9. Bad = No potential buyers today.

10. Very bad = Buyer breaks stuff in your house.

11. Extremely bad = (Worst case scenario) Buyer steals all your valuables, beats up your agent and leaves evidence of a serious crime in the master bedroom.

The use of punctuation and capitalization can also muddy the message if the feedback is given via email or text message.

BAD is worse than bad and

EXTREMELY BAD! is much worse than extremely bad.

Good Luck and Happy Selling!

Have a home visit go horribly wrong? Tell us about it in the comments section.



Comments

Login or Register to Comment
Title/Content Author
No comments yet






About  | FAQ  | Contact  | Sitemap  | Privacy Policy  | Terms of Use  | Help

© 2016 Renovate Your World LLC