Never swim scared
Sharks — both the fish and the business gurus — can smell blood in the water. It’s the sense of desperation that is written all over a rookie entrepreneur’s face when they take the stage. This never, ever helps the business owner’s case.
The same applies to home sellers. While it’s very difficult to hide your excitement or your dismay, it’s best to take a neutral approach when a seller asks your thoughts on a home.
Why? Because hiding your emotions gives you leverage. If you’re cool, calm and collected, it can save you thousands because you haven’t given up your bargaining chips.
One (wo)man’s trash is another (wo)man’s treasure
If you find a home that you simply “have to” see, but your realtor (or even perhaps your partner) is less-than-thrilled, try to go see it anyway. Besides the fact that the average home buyer visits ten homes before buying1 — more is better — you might just find a hidden gem. Some buyers are amazing visionaries, while others won’t make an offer based on minor eyesores like carpet and paint (aka easy and cheap fixes).
If you love the neighborhood, the commute makes sense, and the community feels right, take a look and consider fixing up the blemishes. Buying the neighborhood eyesore can pay off big-time by using sweat equity to gain immediate equity in your home. Better to buy the fixer-upper in a great neighborhood than the gleaming beauty in a decent community.
Not all prospective buyers will agree on the value of a home, just as the sharks have disagreed on the profitability of budding new businesses. Take a look at the 12 Biggest Shark Tank Success Stories to see which sharks were laughing last.