One thing to get straight right up front about what home buyers can now expect in Sacramento real estate is the market is not crashing. Our market is definitely not a bubble waiting to burst. Too many owners have too much equity and a higher number of sales have no loan at all. The scary no-doc loans given to any person with a pulse is absolutely not happening. However, what home buyers can now expect in our housing market is softer pricing. There are no smart sellers hoping for “my way or the highway” anymore.
If you want to love a home in Rio Linda, this is the perfect place for qualified first-time home buyers. First, it is affordable, and qualifies for FHA and VA financing. Maybe a buyer is using down payment assistance, which means the down payment might be zero if the buyer qualifies for certain programs. Second, the location is lovely. It’s located in a cul-de-sac, surrounded by neighbors who are crying at the moment because the present owners are moving away. Everybody seems to know everybody else. And third, the home is ready to move into. No work to do.
There are many myths in the Sacramento real estate business, including an assortment of wrong answers about where do buyers come from. Sellers tend to believe a myth because they don’t really know how real estate works. I’m also not so certain that some agents don’t feed into that myth. I often find myself unwinding twisted tales that sellers believe because some agent made up crap. You wouldn’t believe the stuff they say, or maybe you would. Sellers have told me that other agents swore up and down that they had tons of buyers waiting to purchase their home. That’s crazy. It’s nuts. And it’s not the truth.
You can bet one of my priorities for a new listing is following up on buyer leads. Just because I refuse to work directly with a buyer in dual agency doesn’t mean I won’t follow up or talk to buyers. Of course, buyers are free to choose any agent they want, and hopefully they will pick a professional agent with many closings under her or his belt. But I will also work with Uncle Joe’s cousin if that’s what it takes, knowing I’ll end up doing that agent’s job as well as mine, and it’s OK. Whatever it takes to sell a house is my method of operation. No prima donna here. I take more of a pragmatic view that as long as it leads to closing . . .
Who isn’t looking for more ways to sue dual agents in California? I hear from a lot of real estate clients around the country who are upset with their agents, and many of those complaints center on dual agency. They read an article I wrote about dual agency or contingencies or some other legal matter in real estate and call. In case you don’t know, in simple terms, dual agency occurs when the seller’s agent is also the buyer’s agent. This is when sellers find out too late that paying their own agent to represent a buyer might not be in their best interest. Or, buyers discover that trying to manipulate a listing agent into divulging confidential information may have backfired. By attempting to buck the system, buyers may end up with no agent advocating for them.