Park Slope Reader

lindsay owen

Real Estate: Finding The One

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Here’s a question for you: 

You’re finally ready to get started on your home search, your broker has lined up a load of viewings for you and on that very first Sunday of open houses you find THE ONE. 

Do you pull the trigger?

End your (very short) home search and make an offer? Or are you convinced that you can’t possibly have found a home on day one, that going for this property is bound to mean you’re missing out on the home that’s really for you and that you would be CRAZY to let up your search now? If you’ve found this place so quickly, it stands to reason that an even better property is out there, just waiting for you to find it. Right?

Well, not necessarily. If you’re leaning more toward continuing your search despite loving the place you’ve found, you may be suffering from a case of real estate FOMO, which could actually sabotage your chances of landing a home that’s as close to perfect as you’re likely to see.

Making a decision on a home isn’t easy and doesn’t come without a liberal case of butterflies in your stomach, but fear of missing out on something better can really lead to missing out in general.  

So how can this be avoided? Three words: Trust. Your. Gut.  

Here are 3 ways you can gut check your potential purchase to either dispel any FOMO you might have or feel confident enough to move on and continue your search.

1. Pretend You Already Live There.

My clients often give me an “are you serious?” look when I suggest this, but it’s a really good decision-making exercise when you’re trying to make up your mind.  

All you have to do is stop ‘viewing’ the property and start pretending to live in it. For instance, start in the master bedroom with the door closed, open the door, walk along the hallway or down the stairs to the living room or kitchen, imagining it’s morning, you’ve just woken up and you’re going to the kitchen to make coffee. Or maybe try sitting on the sofa in the living room and gazing out of the window or at the fireplace imagining yourself relaxing on a cozy Sunday evening as it snows outside.  

Are you feeling anything yet?  

How about sitting at the dining table, and imagining holding a dinner party for your friends or serving Thanksgiving dinner to your family?  

How about now? Are you feeling content? Excited? Emotional? Happy? Can you see yourself making a life here? Your gut will tell you. You just have to listen.

2. Stop Pausing For Perfection.

“But it’s not perfect!”, I hear you cry! We’d still have to replace that floor. Paint that wall. 

Change that vanity or move that shower stall!

Ah… so you’re looking for perfect. Ok, good luck with that.

Here’s the newsflash: it’s never going to be perfect. No property is when you’re searching for a home. 80% perfect is good. 85% is better. 90% is pretty much a property unicorn and 100% just doesn’t exist, so looking for it will be a total time suck and might ultimately drive you crazy!

But here’s the good news. That extra 10-20% is the good stuff. It’s the perfection gap that you get to fill to make the place your own. To put your personal stamp on it and make it as damn near perfect for you as you can get it.  Plus, everyone likes a bit of a home project when they move into a new place – how do you think the likes of IKEA, Home Depot and Lowes stay in business? Whether it’s putting in that new bathroom you’ve already designed on a Pinterest board or refinishing a neglected hardwood floor to its former glory, this is the stuff that makes a home your own and begins your story within it.

3. Listen To Your Real Estate Agent.

If you’re working with a real estate agent worth their salt, they’ll be checking their own gut too and if they’re noticing any red flags that you may not have, now’s the time for them to point them out to you.

Although it’s no fun being a party pooper, I’ve been the voice of reason to many an excited client, pointing out potential problems with a roof, windows that need replacing, dated mechanicals, or dodgy building financials. That’s my job. To make sure my client is walking into a transaction with their eyes wide open and a complete understanding of what they might be letting themselves in for.  

Your agent will also be able to advise you on the area (if it’s new to you), the sales price (if it’s over or underpriced), and how this property stacks up against comparable ones they’re aware of that you may not be. Plus, if they know there’s better on the market, or, through their broker network is aware of a better listing coming up, they can caution you to wait and see. And remember, they’re there to help you sense check what you’re thinking, to answer questions, help you see the big picture and work out whether the home you’re considering really is as great as you think it just might be.

So! Don’t count a property out just because you’ve seen it early on in your search, particularly as while mortgage rates remain so low, anything that is speaking to you is likely speaking to others and may be snapped up if you take too much of a pause. 

And take it from me, it really is possible to find that dream home right at the start of your search. I’ve done it myself. 

Twice.

When Home Is Everything

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Real estate in the time of COVID. I am somewhat reluctant to write this article.

Back in January, when I submitted my last column to the magazine’s editor, COVID had not quite taken hold of our country.  In anticipation of the spring market, I wrote about staging – how it can help you to sell your home, top tips, hacks, and sure-fire ways to up the anti and maximize your bottom line.

And then, by the time the magazine was published, we were in lockdown, and staging, never mind real estate in general, was the furthest thing from anyone’s mind, even mine.  We were all just taking one day at a time.  Terrified.  Holding on to those we held dear and counting the days. Seeing the article in print felt inappropriate. Trivial.

So, you may understand that writing anything about the real estate market during a pandemic, where we really don’t know what’s around the corner can seem a little…risky.    But for you, I’ll take the risk.  I know that many of you are teetering on making big decisions about your own living situations – maybe you’re thinking of buying outside of the city or you’re committed to NYC but desperate for more space to accommodate your new normal.  So, while what I write in this column today might seem inappropriate, trivial, ill-conceived, or just plain wrong months from now (because I, like all of you, do not have a crystal ball), my hope is that now, right now, this might be helpful.  

Because home is everything.  Especially now.  So! Real estate in the time of COVID.  As an agent in the community, there is not a day that passes where someone doesn’t ask me about the market, so I’m going to do my best to answer the three questions I’m being asked most often right now.
I hope this helps.

Q: Is now a good time to buy or should I wait and see what happens with the market?  

A:  Now is a GREAT time to buy.

Manhattan is officially a buyer’s market, and it looks like Brooklyn is beginning to follow suit although right now Brooklyn is still definitely seeing more activity than Manhattan, and we’re seeing most of that movement under the $2M price point.  With rising, inventory buyers have more choice and therefore more leverage, and mortgage rates are spectacularly low. At the time of writing this, the average 30-year fixed mortgage rate just dropped to a historic low of 2.86%, according to data released by Freddie Mac, which has tracked rates since 1971.

While this means more spending power for buyers (which is good news for everybody), I wouldn’t take mortgage rates for granted.  While inflation remains low, so will the rate, but inflation will eventually rise. Indeed, the Fed recently announced a major policy shift geared towards lifting inflation – and with rising inflation come rising mortgage rates.  Simple as that.  With the Fed also unlikely to raise the Federal Funds Rate for years, savings accounts will continue to offer pretty much nothing in terms of interest, and we’re all aware of the rollercoaster the stock market is on right now. Owning real estate, therefore, is a great hedge against rising inflation and remains one of the best-forced savings accounts out there (and the only one you get to live in) particularly as home prices will likely climb hand in hand with inflation.

While deals are out there – all the buyers I represent right now who entered contract recently had offers accepted for under ask or after a price reduction – we’re also seeing highest and best and multiple bid situations for well-presented and/or strategically priced properties.  However, it’s a nuanced market, depending on price point, location, and property condition and the traditional selling seasons are not as defined this year.  
I’d advise against trying to time the bottom of the market.  It’s possible that we may already be there and honestly, nobody ever knowingly buys at the bottom and price reductions can often reinvigorate buyer interest and even spark bidding wars.  I’d focus instead on finding a property that works for you now and for years to come and get the best deal, you can while conditions are optimal.  Think about what’s important to you and your family.  The security of living in a home that makes you feel safe and comfortable and gives you space and flexibility you need during these challenging times is priceless.

Q: Is now a good time to sell or should I wait?

A: Well, that depends….

If the last five months have taught us anything it’s that the new normal is much more home-based, and buyers are more aware than ever of the inadequacies of their homes.  Buyers who are out there looking to make a purchase are incentivized to take advantage of interest rates and ready to make a deal.  However, while the high buyer demand we saw in January and February of this year has been deferred rather than particularly diminished, I wouldn’t take it for granted.  

I’ve been asked a lot whether it makes sense to wait until spring to list, but honestly, that’s an impossible question to answer. Nobody knows what the future holds and with the upcoming election and ongoing pandemic, the market could go up OR down early next year.  That’s why it’s important to identify your goal – whether that’s to make the most profit possible, or to secure a new home that works better for you and your family.

For instance, if you’ve only owned your place in Park Slope for 3 or 4 years, unless you bought at under market value or you’ve made some significant upgrades I wouldn’t expect to walk away with a huge profit.  Prices in Park Slope have not risen as exponentially as they did between 2014 and 2016 in the last few years and have flattened out considerably in comparison, so once you factor in closing costs (these will be higher for townhouse and condo owners than for those selling coops) you might not be looking at a big chunk of change after all’s said and done.  So, if your main priority is getting a good return on your investment, but you’ve not owned your home for long and don’t have to sell, you may choose to wait it out for a couple of years before taking your home to market and look at refinancing for a lower rate in the meantime.

If, however, you’re in the same situation but selling because it’s a means to an end – maybe you’re looking to relocate out of the city and your sale would enable you to do that, then my best advice is to focus on what the sale allows you to achieve rather than on how much profit you make.  For instance, if you’re moving out of town to a cheaper neighborhood you may be looking at a significantly lower mortgage for a significantly bigger property, so a smaller profit than you’d hoped can be negated over time in the money you save in mortgage payments.  And of course, it gets you to where you want to be.  A home that works for you and your family.

If you’re trading up you may actually stand to make money rather than lose it.  When you’re selling in a down market, remember you’re also buying in a down market.  Let’s do the math. Say your $1M home sells for 10% below ask, but that $1.5M home you’re buying also sells for 10% below then you’ve actually come out with $50K in hand.  Look at it the other way: if you sell for 10% above $1M at $1.1M but buy at 10% above $1.5M at $1.65M, you’ve gained $100K in your sale but had to shell out an extra $165K in your purchase. Of course, the aim is to sell for more and buy for less, but this isn’t realistic unless you’re selling something great and buying something, um, not so great, or which requires time and money to renovate.  And by the way, before you start worrying that you should expect a 10% price drop, don’t worry, I’ve used that rate for illustrative purposes only!

Lastly, as I’ve already touched on earlier in this article, inventory has been on a steep increase since quarantine came to an end, so competition amongst sellers is on the rise too.  That means it’s more important than ever to price right if you do decide to sell now, or you may run the risk of having your home stagnate on the market.  Make sure to have your broker run an extensive market analysis and take into consideration both recent sales prices as well as prices for current comparable homes when deciding on your listing price.  If you fail to price correctly or realistically, you may find you don’t receive any offers, or even worse, not have any showings. 

Q: I want to rent a new place – how can I get a good deal?

A: It’s a renter’s market!  Use that leverage!

With apartment inventory in New York City at highs not seen for over a decade, rental prices have trended downwards in some neighborhoods and landlords have been forced to offer concessions in order to secure tenants.  Manhattan’s rental market has taken the worst hit with August vacancy rates soaring to 5.1% for the first time in 14 years, an increase from just 1.9% in August of 2019, according to appraisal firm, Miller Samuel.  The Brooklyn market is proving to be more resilient with narrower price concessions, although Miller Samuel still reports inventory at an 11-year high.

As I write this, there are currently 598 apartments available for rent in Park Slope.  Of those 201 are being offered either without a broker fee or with free rent (or if you’re lucky, both).  

If there was ever a time to negotiate a good deal, therefore, it’s now.  Rather than waiting to see where prices might bottom out, I’d recommend proposing terms that work for you, whether that might be a lower rent, or even a period of free rent.  The length of the lease may also be up for negotiation – anecdotally I’ve been asked by a lot of tenants for shorter leases as uncertainty about job stability is putting people off making long term commitments.

If you happen upon an apartment you like, but there’s a broker fee (it’s currently still legal for tenants to pay broker fees in New York), ask the listing broker if the landlord would consider paying all or part of it.  If you’re looking for a longer lease, now may also be the time to request that.  Put it this way, if I was a landlord right now, I’d be delighted to secure a tenant for 2 years rather than risking another period of vacancy after a year of leasing.

Ultimately, while inventory remains high, there are just so many choices that you really have nothing to lose and everything to gain by negotiating.
So!  I hope that answers some of your questions.  Bear in mind that New York City and even Park Slope itself are a collection of ‘micro-neighborhoods’ which can vary significantly in terms of desirability and pricing, so while the information I’ve shared here answers some of the most burning questions, the only way to get accurate advice and data specific to your own unique situation is to reach out to an agent to talk through your options.  An agent worth their salt, will give it to you straight and not encourage you to buy or sell if it’s not in your best interests financially.

If you’d like to discuss anything in this article further or have other questions about the market or your own goals, feel free to reach out to me at Lindsay.owen@compass.com and I’m happy to provide you with all the information you need to make an informed decision for you and your family.

Until next time!
Lindsay xo

The Stoop: 10 Tips For Staging Your Home For Sale

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While Spring is peak selling season in New York City, getting top dollar for your home is no walk in the park, no matter how many buyers have come out from the cold to pound the streets to open houses.  With the real estate market still favoring buyers, sellers need to make sure that their properties stand out amongst the competition or risk standing to leave money on the table.  The good news is though, that with mortgage rates still ridiculously low, buyers have more spending power and anecdotally, since the first of the year, we’re starting to see them use that power for the right properties.  And by right, I mean damn near perfect, because this market just ain’t tolerating much imperfection.

So what are buyers looking for?  Well, it’s pretty simple: they want to fall in love.  It should be love at first sight when they see photos of your property online and you really want them getting the warm and fuzzies when they first walk through your door. First impressions are EVERYTHING and if you miss your opportunity to make an impact, your home isn’t going to make it to the hotlist and buyers aren’t going to be making you offers.

This is why staging has become such an essential part of a sales strategy, particularly in this market, but frankly, in any market. When you’re looking for an agent to sell your home, be sure to talk to someone with a successful track history with staging and make staging part of the conversation from the get-go.

How much staging your home requires comes down to this simple question:

‘Does your home project a lifestyle that buyers are willing to pay your asking price or more for?’

Occasionally the answer is a resounding, ‘yes,’ in which case we’re good to go and just need to add the special sauce of great architectural photography and some strategic marketing.  However, if the answer is ‘no’ or even ‘maybe’ then we need to get to work.  With most of the homes I see, the staging I need to do varies between a minor tweaking to a complete overhaul, but it’s rare that any home is camera-ready.  

Here’s my guide to what you need to think about when staging your home.  The trick to getting this right is to put yourself in a potential buyer’s shoes and be honest with yourself about what you need to do. And, if you need any more impetus to get to work, take a look at other similar homes on the market, as when you see how good the competition is looking that will be the only kick up the ass you need to get going on your home’s facelift.  

So – staging 101.  Let’s do it…

1. Detach And Don’t Take It Personally

This first step is a psychological one.  You have to detach.  You’ve decided to sell, so stop thinking of your property as your beloved home and start thinking of it as an asset you want to sell for top dollar.  Your agent, if you’re working with one, should advise you on what kind of aesthetic will appeal to the highest number of buyers looking for a home like yours.  Don’t take it personally if your personal style isn’t the right fit and some of your furniture and accessories don’t make the cut and need to head to storage.  Embrace the process, swallow your pride and trust the professional you’ve hired.

2. Declutter and Depersonalize

Less is always more and the clutter just has to go. Buyers want to see space when they step into your apartment, not piles of magazines, kid’s toys overtaking the living room and closets busting at the seams.  Clear surfaces of clutter, reorganize your closets so buyers see they’ll have plenty of storage space and get rid of anything you don’t want to take with you when you move (you’ll only end up paying more in moving fees if you don’t).  

Depersonalizing is also essential.  Buyers want to imagine themselves, not you, in the home. So take down personal photos, put away that kid’s artwork you have stuck to the fridge and streamline your space.  If doing this seems overwhelming, there are services that specialize in decluttering and organizing like Done & Done Home who regularly save the sanity of Park Slope homeowners. 

3. Repairs

You know what needs fixing, so get it done. Spackle cracks in the walls, re-caulk or grout the tub, shower or sinks, replace cracked or broken tile, update that ancient water tank and replace that malfunctioning fridge freezer.  You might want to even consider a ‘pre-inspection inspection’, particularly if you’re selling a townhouse or condo.  You’ll then be able to highlight any problems and rectify them before they become red flags when your future buyers have their own inspection.

4. Repaint

Unless your walls are spotless, you really need to paint.  Don’t put that job on your buyers, because that isn’t going to bode well; particularly when you’re competing for their attention with other homes that are freshly painted or apartments in brand new developments that are finished to perfection. Neutral is key.  White, or off-white is preferable as it gives your buyer a fresh blank slate that looks good with any color scheme.  Take a trip to Tarzian on 7th Ave who stock the full range of Benjamin Moore colors – Decorator’s White, Chantilly Lace and Cloud White all work well.  Remember, white walls give an airy, spacious and clean feel.  Ask your broker for recommendations for painters – they’re likely to have a range of reasonably priced vendors they’ve hired before who’s work they can vouch for.

5. Floors

Old wall-to-wall carpet? Nope. Beaten up hardwood floors? Not ideal.  Stained linoleum in the kitchen? Just. No! Spending some money on smartening up your floors is a great return on your investment.  In fact, by not doing it, you stand to lose more in your sales price than you’d have to spend to get the job done. Refinishing and repairing your hardwood floors is a game-changer if they’re in poor condition- and yes, I know it’s a hassle and much easier if your property is already vacant- but do what you can. Go for a matt, natural finish – no high gloss, please! And the carpet?  If you’re not able to replace it with hardwood floors or refinish those beneath it, professional deep cleaning can do wonders and take out years of dirt and any unpleasant odors.

6. Let There Be Light!

Replace any dated light fixtures with something more contemporary. West Elm has a great selection of reasonably priced options and often has sales.  Go for incandescent bulbs for a warm feel. Cleaning windows inside and out is a must, and when showing and photographing make sure to pull curtains and blinds out of the way to let in sunlight and highlight a great view if you have one.

7. Set The Scene

Here’s where the magic happens and where you really have to just let go and go with the process. Make sure to remove any dark or heavy items of furniture and replace them with more contemporary and neutral-colored options.  Use accessories like pillows, throws, lamps, ornaments, and artfully arranged books to add pops of color.  In bedrooms, opt for white, clean (and crease-free) bedding and replace tired and lumpy duvets and mismatched pillows.  Add a couple of accent pillows and a throw, for color and texture. In the master, matching bedside tables and lamps add a sense of balance and offer more styling opportunities.  Make sure to designate space in your living area.  Rugs are everything.  One to earmark living space, one for the master bedroom. If you have an open plan living and dining area, even if you don’t currently have a dining table, make sure to illustrate that there’s room for one by adding one to the space. A living room should have a coffee table, at least one accent chair, and a large and contemporary statement piece of art does wonders. 

For inspiration hit up Pinterest or view other listings online.  And remember, this doesn’t have to be expensive.  You’d be amazed what great furniture, bedding and accessories you can find at places like Target, Walmart and World Market.  My team recently staged an apartment with some amazing pieces from Target that cost very little. 

8. Bring The Outside In

Fresh flowers are lovely, but they don’t last. As someone who’s notorious for killing houseplants, I’m delighted that there are so many artificial and inexpensive options available now.  Greenery always looks good, so make sure to add a couple of flower arrangements and some eye-catching plants (fake fiddle leaf fig trees – IKEA has great ones – are SO much easier to care for than the real thing and don’t have any less impact).

9. Deep Clean

Clean, clean, clean!  There is no excuse for a dirty bath, a filthy oven or plethora of dust bunnies when you’re showing your home. If you hate cleaning, bite the bullet and pay for a deep clean.  And don’t underestimate the effect scent has on your buyers.  Burning a beautifully scented candle – I love the ‘Brooklyn Escapist Candle’ by Brooklyn Candle Studio –  before showings will make your buyers feel more ‘Ah!’ than ‘Ew!’ when they enter your space.

10. Don’t Forget Curb Appeal

Tidy your front garden, add some potted plants to your stoop, cut back any unruly shrubs and weed and mulch beds.  If you’re in an apartment building, make sure the front door of your home is freshly painted and use an odor neutralizer like Febreeze in the hallway.  

So! There are my 10 top tips.  But before I wind things up, let’s talk about the elephant in the room.  Money.  I get it, this stuff doesn’t come for free and there’s a cost involved.  BUT!  Doing the work could make the difference between selling for a premium and not selling at all, so scrimping on what needs to be done is only going to hurt your bottom line. But take comfort: it needn’t all be on your dime.  Some agents, myself included, stage homes themselves with their own stash of staging furniture and accessories. For bigger jobs, or for those short of liquid cash, Compass offers a program, Compass Concierge, that covers all the costs of preparing your home – you just pay them back at closing. 

Ultimately, there’s no way of avoiding the fact that to really give the competition a run for their money, you might have to spend some of yours, but ultimately your bank balance will thank you for it.

Lindsay Owen is a licensed real estate salesperson working with buyers and sellers of coops, condos and townhouses in Brooklyn and Manhattan. She can be reached at lindsay.owen@compass.com.

The Stoop: Call the Broker!

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You know how nerve-wracking it can be to have a baby? Well buying or selling a home can be just as scary.  Putting your signature to a listing agreement or submitting that offer is not unlike seeing that positive pregnancy test. Things get real. Real fast.

Suddenly all those dreams you’ve had over the years about owning a home or starting a family collide with reality. The journey to parenthood or homeownership is not without serious decisions to make or emotional ups and downs, and can sometimes feel pretty exhausting.  

As a former UK based midwife, I’m often asked why I went into real estate. It’s way too long a story to tell here, but what I do always say is that they’re both helping professions and that they actually have more in common than you’d think (although working as an agent is a little less messy!)

Here’s an example. As a midwife, I would always tell my clients to try and relax and enjoy the process. I’d suggest they write their birth plan as specifically as they could so we could go through it and then advise them to ceremoniously burn it. Why? Because nobody can predict what will happen during labor any more than you can predict what will happen during your journey towards buying or selling. All you CAN do is make sure you have a truly wise and supportive advocate in your midwife or doctor, and that that person will do as much as they can to help you achieve your ideal birth.   

As a real estate agent, I do much the same thing when advising my clients. I’ll often ask “If you could wave a magic wand and have this sale or purchase go exactly how you want it to, what would that look like?” Making that happen then becomes my top priority, but sometimes, as illustrated by that burned birth plan I have to prepare my clients for some little bumps in the road.    

So – to prove that being a broker really IS kinda like being a midwife, here are a few examples of the advice I’ve given to those on their way to home ownership or parenthood…

TRYING TO GET PREGNANT VS TRYING TO FIND A HOME

The Midwife’s Advice

Getting pregnant can take time, and that’s totally normal. Try not to get despondent. Failing to see that blue line on the pregnancy test month after month is super frustrating but try to relax and stop thinking about it as much as you can (easier said than done, I know). Enjoy your baby free time by doing things that you may have to put on hold as parents to very young children – a romantic vacation with just the two of you springs to mind. Try for a year (using ovulation predictor sticks might help as can quitting smoking) and then change your approach – it might be time to talk to a fertility doctor.

The Broker’s Advice

Be comfortable with the possibility of looking for a while. It takes 9 months to grow a small human and it may take just as long to find and close on your perfect home. A good buyer’s broker won’t tire of you or your search and will stick by your side. And remember, it’s not you. It’s so much more likely to be a lack of inventory or a competitive market. Believe that your place is out there – my clients have often found their dream home just as they’ve decided to give up their search.

Everyone needs a little love from their midwife or broker. We all need to have our fears understood and appreciated, and when we choose someone to guide us through our journey we’re all looking for a little TLC and encouragement.

MORNING SICKNESS VS ACCEPTED OFFER

The Midwife’s Advice

Morning sickness SUCKS, there are no two ways of saying it.  If you often feel worse first thing in the morning, it may be because your blood sugar is low so it’s a good idea to keep a snack by your bed and eat it before you get up. Ginger biscuits (sorry, cookies!) are perfect for this as ginger is a natural anti-emetic which can really help and the sugar in the cookies will give your blood sugar a lift.

The Broker’s Advice

Once that offer is accepted, however excited you might be it can literally be nauseating as you go through due diligence in your race to sign a contract and secure your deal. Here’s when a great buyer’s broker, inspector and in particular a great real estate attorney come in. It’s their job to guide you through everything, protect your interests and help you make informed decisions. Hopefully, with a great team working on your behalf, you’ll be able to keep your nausea at bay!

YOUR DUE DATE VS YOUR CLOSING DATE

The Midwife’s Advice

A baby will usually come when it’s good and ready so don’t stress if you’re overdue. Remember 37 – 42 weeks is full term (not 37 – 40), you can’t schedule a natural birth and only around 5% of women actually deliver on their due date. Talk to your doctor or midwife about the risk factors for you to go over 40 weeks, but in my experience, healthy, fit and well women with low-risk pregnancies are just fine to wait it out past 41 weeks. Both my babies were over 41 weeks, they were NOT small at 9.5lbs each and they were just fine…

The Broker’s Advice

Understand that closing dates are often scheduled just a week or two before the closing so it’s really hard to plan for them or predict exactly when they’ll be. It’s just part of the process. When submitting your offer, work with your broker to negotiate an ‘on or about date’ for closing, (which gives you 30 days leeway past that date if necessary) and work out a backup plan if you can’t close EXACTLY when you want to.  

That might mean as a seller asking for the option of a post-closing leaseback in your contract (where you can rent the home back from your buyers for a short period until you’re ready to move to your new place), or as a buyer that might mean thinking about extending your lease month-to-month, paying for a few extra weeks rent, or finding temporary accommodation and storing your furniture briefly to bridge the gap between the end of your lease and your move to your new home.  

It’s a royal pain, I know, but a good broker will help with all of this – just another reason to have someone you trust and who will advocate for you and guide you.

LOVE & DISCIPLINE

When I think about the convergence of my two careers, and how midwifery has influenced the way I work as a real estate agent, it comes down to two words: love and discipline.

Everyone needs a little love from their midwife or broker. We all need to have our fears understood and appreciated and when we choose someone to guide us through our journey we’re all looking for a little TLC and encouragement.  

I think that’s why I’ve formed such good relationships with my clients. Because I get that. Because, as a midwife and a broker, I’ve been honored to be with families at some of the most important yet vulnerable moments in their lives.  I know how essential it is to be a calming, supportive and reassuring companion and how taking the best care of my clients is incredibly meaningful, not just financially but emotionally.

And the discipline? Well, giving birth or selling a home isn’t easy. But in the most part, it’s a process that just takes some self-belief and discipline. I have to be super disciplined in doing the best job I can, but so do you.

Whether I’m guiding and encouraging you as you push that baby out or telling you what you’ll need to do to prep your home to sell, if you can trust me and be open to doing what I need you to do – from changing to a new position to push to painting your home prior to photography – if you can really be disciplined despite your doubts and trepidation, then it can be a lot easier than you think.

And on the other side of it all?    

Oh wow, that really is the sweet stuff and it makes EVERYTHING worth it.

Lindsay Owen is a real estate agent with Compass based in the Park Slope office and can be contacted at lindsay.owen@compass.com.