Buying or selling a house is a tricky decision. In real estate, decisions are tailored with various opinions and details that make each deal unique. Therefore, it is essential to keep in mind that any real estate decision is a process. Don’t worry! Because listed below are eight incredible real estate hacks everyone should know!
#1: Choose the right people!
The real estate industry can be saturated with those who may not take their job seriously or got into it for the wrong reasons! Therefore, make sure to always choose the right people who have integrity and a solid reputation. Sellers want real estate agents who have good online reviews, impressive video and photo portfolios, and a reputable record.
Tip: Aside from finding the best and the right agent, look for the best mortgage brokers too! Best case scenario: an agent who refers a trusty team
#2: The rule of three.
This real estate hack is very simple – get three bids! It’s the simplest yet greatest real estate hack everyone should know. The deal here is buyers and sellers (or even related companies) know that they’re not the only ones. As a result, they are more likely to give both the best price and best service in a timely manner.
REAL ESTATE HACKS: FIRST OFFERS AND RIGHT PRICING ARE THE GAME- CHANGERS!
#3: Buy smart or not at all!
Homebuyers must have excellent decision-making skills or an agent who can expertly guide them. Purchasing a home, or selling one for that matter, is not a decision to make lightly. Identify the intentions for purchasing the house, layout the plans, and prepare for contingencies plans if the house needs to be sold.
#4: Stay within the budget!
Being realistic about a budget can be hard but agents must work with their clients to ensure this! For first-time home buyers, it is an exciting and surreal experience. However, it’s important to note that home buying is a new world that deserves caution and thoughtfulness.
#5: The right pricing is the key!
Being realistic about the market and the worth of a house when it comes to selling it is equally as important as tip #4. The more realistic and reasonable a home is priced, the more opportunities will open for multiple bids which is where the deals really get good. It's simple really: attract more prospective buyers, which increases the chance of getting the best deal.
However, buyers agents are more likely to be skeptical if the house is priced too low. As a result, sellers must list and price their homes just right and suitable for the market. Perfect balance is the name of the game!
REAL ESTATE HACKS: YES, PEOPLE SPICE UP THE GAME!
#6: Consider all offers!
As an agent, it's vital to help your clients weigh all options. Also, remember that you have the knowledge base and if you see a great deal come across - let your clients know and walk them through the process - especially if they're being wishy-washy.
Counteroffers will probably occur and this is a great opportunity to ensure your client feels they're getting what they want out of the sale, but also being realistic about the state of their home and the market. As a potential buyer's agent, it's important here to again maintain realistic expectations and consider all parts of a seller's counteroffer while being strategic about what you're asking for!
Tip: Don’t be pressured to accept the first offer. Counteroffers can still be done as part of the negotiation!
#7: Can’t qualify? Be creative!
The good thing about the innovative world we're in today is it's got a lot to offer for buyers who may not qualify for a conventional loan. With rising home prices and all sorts of unique situations -- homes still need to be bought. There are so many resources to buy a house creatively without being too complicated and a great loan officer and realtor can set clients up for success.
#8: There's always more houses and more buyers.
It’s exciting to buy a new house and to sell a home. As with most exciting ventures, it can be hard not to go with the first great deal or to not discouraged when deals are falling through. However, when something feels wrong, be ready to walk away. For example, the inspection comes back, and the appraisal becomes lower than what’s written in the contract, and the seller won’t drop the price. This is a signal to use the power to walk away. Walking away is power; because it's better than getting caught in a tricky situation.
REAL ESTATE HACKS: SMART DECISION IS THE CORE OF REAL ESTATE.
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