What are buyers to do if there aren’t many homes to choose from? – Rebekah Schwartz

On this episode of The Closing Table, we sat down with Rebekah Schwartz!

To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…

Here’s what you missed from Rebekah Schwartz…

The conversation began with a this or that icebreaker on leadership skills, marketing, and more. Rebekah then introduces herself beyond her real estate profession. She shares that she is a wife and a fur mom, residing in Lansing. She enjoys spending quality time with her loved ones, exploring local eateries and events in Lansing, and embracing the outdoors. She also mentions her passion for playing the piano and cooking.

Rebekah’s real estate services cover the greater Lansing area and any location within an hour’s radius of Lansing. Geographically, this region includes notable landmarks and attractions. Economically, the market is currently favoring sellers, with limited inventory available for buyers. Although the situation has improved slightly compared to earlier this year, there haven’t been any significant changes. As a result, buyers continue to face challenges in having their offers accepted.

Next, Rebekah recounts an experience with a client she had in East Lansing. Initially, they approached the process with caution. To address their concerns, Rebekah arranged a phone screening to allow them to ask all their questions. They engaged in multiple email exchanges, during which Rebekah provided them with a buyer guide. She dedicated time to actively listen and address all their inquiries, guiding them through each step of the home buying process. Ultimately, the clients purchased a home in East Lansing and expressed their satisfaction with the outcome.

In today’s sellers market, the limited inventory poses a challenge for home buyers. With few options available, buyers may wonder how to proceed. Rebekah advises buyers to prioritize being pre-approved by interviewing multiple lenders and ensuring they are financially ready. Conventional loans are currently favored by sellers, so she recommends exploring that option. Flexibility in requirements, such as considering a non-fenced property and adding a fence later, can broaden the scope. Acting quickly is crucial as houses are swiftly snatched off the market.

Rebekah then shares a success story from her real estate career, emphasizing the importance of swift action and strategic decision-making in a competitive market. She highlights instances where she had to promptly set up showings and make offers. In one memorable case, her client was a backup offer and Rebekah was out of the country when the seller’s agent reached out. Despite the circumstances, her clients remained interested, went under contract, completed the transaction process, and successfully closed on the property.

Rebekah acknowledges that there are times when the closing day may be delayed due to circumstances beyond her or her clients’ control. Such situations are not uncommon, often involving the buyer’s loan or financial matters. She recalls a specific instance where her client went under contract in January and everything progressed smoothly until the well and septic inspection revealed the need for a refill. Fortunately, the seller agreed to cover the expenses, but obtaining quotes and scheduling the necessary work took several months. Consequently, the property did not close until the end of April, marking the longest closing process Rebekah has experienced.

Sometimes, the reason why an offer may not get accepted lies in the nature of the market, while other times it can be attributed to the buyer themselves. Rebekah emphasizes that the past couple of years have been marked by a highly competitive market, requiring clients to make adjustments to their offers. She shares a recent situation where a buyer found a house they loved and went through the walkthrough, but faced intense competition. To secure the property, they ultimately decided to pay $20,000 over the asking price, included a high appraisal guarantee, and offered the seller a 60-day occupancy agreement.

The conversation wraps up with Rebekah outlining the approach she would take if she was starting over as an aspiring homeowner, using today’s resources. She stresses the importance of being pre-approved by a reliable lender. As a serious homebuyer, she advises taking the time to thoroughly explore the market, carefully assessing the list of requirements and preferences for a house, and determining the key factors that are non-negotiable. If a property meets all the established criteria, she recommends wholeheartedly committing to the purchase.

Check out Rebekah Schwartz:

Facebook: https://www.facebook.com/rebekah.schwartz09

Facebook Business Page: https://www.facebook.com/RebekahSRealtor

Instagram: https://www.instagram.com/rebekahschwartzrealtor/

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