Real estate is complicated. First, the basics: how to identify what you are looking at, how to find a broker, and how to find the right home. We are here to help you navigate the real estate process so you can find the home and find the life you want to live.
One of the biggest myths in real estate is that brokers are a dime a dozen. But the truth is that only a small percentage of real estate agents have the experience and knowledge that you need to find the right home for your needs. For most buyers, it’s the same with real estate agents. While it’s true that brokers can be a pain in the butt to deal with, they are in fact the best way to find the home you want since they can negotiate on your behalf.
The fact is that real estate agents are in a unique position because they have a lot of the knowledge needed to negotiate on behalf of the sellers, but they don’t have the experience or knowledge that you need to do so yourself. That’s why many people choose to go to a broker when they are trying to buy a home. A typical real estate agent will typically only be able to give you a ballpark number before they will discuss the details with you.
Thats why most people prefer to go with a broker. A real estate agent will want to get the transaction done as quickly as possible so they can get a commission. In addition, a real estate agent has the advantage of knowing what the property is worth and having a good feel for the market that the seller might not have.
This last point is the one that really annoys me. The very first step in buying a property is to have a real estate agent come out and see it. That way you know the price is what it is and you also find out the market value. If you don’t like the broker or want to go with someone else, then you can always go with a different real estate agent but even then you will still probably have to sit down with the agent to figure out what is actually worth.
That’s always a problem in the real estate industry. For over a decade, real estate agents have been required by state law to give their clients a written report about the current market and the current prices in the area. So the fact that agents have to do this in order to sell a home is a bit of a problem. They often do not give you the current prices because they have no idea what the current market is like.
This time, we are told that the real estate agent that sold our current rental property to us has told her clients that there is a good chance that this house will go for $100,000 within the next year. Which is a big change from the previous agent who said there was no chance of that happening. So the $100,000 price is actually probably something that will hit us in the next three to five years.
It is still not a good idea to buy a house in the current market because the market value may not be the new or the best price. But knowing that we will be able to buy it for the price we paid seems like a big confidence builder. It also helps that we have the cash to buy it. Because the market is already so tight, we don’t have to worry about being able to sell it at a loss.
If you really want to get into the real estate game as fast as possible, you really need to make sure you get into the market at the right time. People buy real estate when they think they will not be able to sell it for a profit in the next couple of years. So the best time for you to make sure you make the right decision is when the market is at the lowest point.
I know this sounds like a lot of advice, but really real estate is about timing. You have to know when to sell. You have to know when to buy. When you make a mistake buying or selling real estate, you could be making a big mistake and not taking advantage of the opportunity to make a lot of money. Real estate is definitely a game of timing.