Sound Off: What are common assumptions about the market?

A: A common misconception among many buyers and sellers is that “properties sell themselves.” What these folks don’t understand is how much work goes into the transaction behind the scenes.

I work closely with my sellers to determine which preparations are most important to ensure a positive experience for buyers. I have resources for many aspects of this work, and coordinate with them on behalf of the seller. Oftentimes we’ll need to stage the property.

Once my photographer submits their photos, I prepare high-quality marketing materials and have them professionally produced. My team creates custom Web pages for each property. When we begin to review offers, the subtleties involved in negotiating on behalf of the seller really come into play. And once we are in contract, there are many processes that need to be handled with strict adherence to the contracted timelines.

For my buyer clients, so much of what I do is focused on finding them the right property that checks as many boxes as possible. I want to be able to provide confidence to the listing agent that if the seller accepts our offer, we will get it closed with no problems.

I review the disclosures and inspection reports, coordinate any further inspections and work closely with our lender to make sure there are no surprises that might scuttle the deal.

Adam Gavzer, McGuire Real Estate, (415) 505-0714, agavzer@mcguire.com. A: With the exception of a few neighborhoods, we are in a seller’s market.

The most important factor for buyers to be more efficient is to have financing ready. Many buyers start going to open houses without much preparation. It’s vital to be clear on closing costs, how much you want to spend and to work with a reputable lender.

There’s a big difference between pre-qualified and pre-approved; if you’re in a bidding war, the latter is a must. Being ready for a bidding war means knowing your max budget and leaving some room if you have to negotiate up. It’s hard to know any of these numbers without speaking to a lender, so arm yourself with an excellent lender and agent on your team.

Sellers can have a misconception that their home will fetch 20 to 30 percent more than asking price because their neighbor did or Zillow says so. There are so many variables when pricing a house: time to market, neighborhood, size, other homes on the market, condition of the home.

Pricing is the most central decision to avoid sitting on the market and having a negative effect on the final sale price. Do your homework with a seasoned agent to get a real sense of value. Remember, for buyers, it’s not just your house for sale but what else they can buy — so distinguish how you stack up against other competing houses near you.

Par Hanji, Paragon Real Estate Group, (415) 307-5110, par@parhanji.com. A: As we move just past the halfway point in our fifth year of strong economic recovery in the Bay Area, it will serve both sellers and buyers well to understand a few important truths about our local real estate market.

For sellers, it is important to prepare properly (unclutter, paint and stage) and to price wisely, according to the counsel of your Realtor, your chosen guide and trusted expert. Understanding that the market is self-adjusting and will ultimately deliver to you the true market value of your home at the time that you sell it is important. The market is fluid and changes week to week. Yesterday’s sale is not always the benchmark for your sale now or in the future.

For buyers, be prepared to show up fully, offering your highest and best when needed and know that the house that is most right for you will be yours. It may take a few tries before you prevail; do not give up. Be willing to compromise a bit, knowing that there is no such thing as the “perfect house” for any of us. As with people, we grow to love our homes, flaws and all, while building our lives there creating wonderful, lifelong memories.

Karen Starr, Grubb Co., (510) 339-0400, ext. 224, starr@grubbco.com.

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