Depending on what stage of life you are in or how you choose to run your life, you can probably empathize with others when it comes to the feeling of not having enough time. Whether it’s raising kids, working full-time, or just trying to fit in all of your interests, carving out time can be incredibly challenging.
One common challenge of putting a real estate deal together is the coordination of busy schedules. It all starts with trying to schedule a showing.
Many buyers who have full-time jobs are restricted as to when they can see a house. It usually comes down to weekends, after work or during lunch breaks. Also, many buyers with children have other commitments, such as sports events, birthday parties, and school pick-ups, that further can constrict a schedule.
In a competitive real estate market, such as Santa Barbara, a busy schedule can severely inhibit a buyer’s chance at securing a home, especially one other buyers with less busy schedules also find appealing.
Respectively, sellers can also have schedules that make it difficult to grant access to their property. This usually limits their chances at properly exposing the property, which could result in a lower sales price. This could be due to an occupation, needing to give tenants advance notice, tenants’ schedules, kids, or just a seller who doesn’t want to be bothered with showing requests at certain times.
Just as a buyer might miss out on opportunities due to a busy schedule, a seller can miss out on a higher purchase price as some buyers will just move on from a property that is hard to gain access to — especially if there are other comparable homes available that are easier to see.
This could mean longer days on the market and price reductions in attempts to regain the interest of the current buyer pool.
I witnessed a perfect example of this just last week. A buyer with a very busy schedule wanted to see a house that is on the market and is tenant-occupied. The tenant’s and buyer’s schedules were both very restrictive, and scheduling a showing was nearly impossible.
After a few attempts to set up a showing, the buyer said, “Maybe this is a sign that the house is not for us.”
The tragic thing here is that the house very well could be a great fit for the buyers, but because the showing coordination was so challenging, the buyers will likely move on to a different property and the sellers will likely not have as much success in selling as they would if the property was more available for showings.
These are real consequences that can negatively affect both buyers and sellers. Now if the buyers were willing to accommodate the seller’s restrictive schedule, they might be able to get a good deal on the property.
To my point, buying or selling a home is a process that favors those who prioritize it, who put effort into it and make time for it. If you approach it in a casual manner, you are asking for a longer, harder and less favorable outcome.
Sometimes there is nothing you can do about your schedule and that is OK. Just be aware, you do have some control over your outcome, and when you can, you should make decisions that will position you for success.
— Thomas Schultheis is with Berkshire Hathaway HomeServices California Properties, and can be reached at 805.729.2802 or SbRealtorTom@gmail.com.