Buying or selling a home is likely to be the largest financial transaction Americans make in their lives. However, Beth Richardson, a realtor with RE/MAX Results, often finds that a customer may have a more thorough interview with a potential hairdresser.
Richardson says, “Most people don’t ask many questions of their real estate agent about how long they’ve been at it, or how many transactions they do. I’ve been at it for 18 years, and I do between 60 and 100 deals a year.”
On average, the number of deals a realtor makes is closer to eight a year.
For Richardson, real estate is a full-time job. She encourages her clients to consider the long-term value of a property very carefully.
As Richardson explains, “I think the biggest mistake that people make when they don’t have good service—meaning good help in terms of guidance in real estate—is remembering that they need to sell this property when they get done with it. If they buy something that somebody else doesn’t want, then they’re going to have a hard time getting rid of it at some point.”
For her buyers, Richardson is able to see past creative staging, looking carefully at the floor plan, the location, and the overall condition of the property to help her clients make an appropriate offer.
Even in a buyer’s market, Richardson warns her clients not to overplay their hand. Prices may have dropped, but a buyer should not assume that he or she is the only one who may be interested in a particular home.
Richardson warns, “If a bank is asking $100,000 for a house, there’s a notion that you could get it for $50,000, and that’s not realistic.”
That said, it remains an excellent time to consider adding an investment property to one’s portfolio. It goes without saying, therefore, that sellers would be served best by postponing a sale if possible to avoid rock bottom pricing.
Richardson states, “If you don’t want to price accordingly, you shouldn’t be in the market right now. This is a price war and a beauty contest, and you have to win both of those things.”
Although Richardson’s office is in St. Paul, she works throughout the Twin Cities and surrounding suburbs. To set up an appointment, call (651) 646-2100, or e-mail bethrichardson@movingtomin
Name of Company: RE/MAX Results
Year Founded: Minneapolis franchise founded 1986
President/CEO: Dave Liniger
Local Franchise Owner: John Collopy
Number of Employees: RE/MAX International has more than 60,000 real estate agents worldwide; RE/MAX Results has 450 real estate agents locally
Address: 2100 Ford Pkwy., Ste. 201, St. Paul,
Phone: (651) 646-2100
Web Site: www.movingtominnesota.com