Purchasing a home is for most people, the single largest investment they will make in their lives. How will you approach the most important financial decision that you might ever have to make?
A labyrinth of obscure rules, regulations, and possibly even more than a few unscrupulous sellers looking to make a quick buck await you entering today’s property market. Every year, the lure of a fast, profitable deal without professional assistance leaves many prospective home owners disappointed, paying out of pocket and having wasted countless hours.
The services of an experienced real estate professional can help you navigate your way through every problem listed above.
You need an expert guide when traveling a dangerous path. Why do mountaineers aspiring to climb Mount Everest rely on the services of Sherpa guides? The former are experienced climbers themselves, and spend at least months training before attempting that iconic climb. Yet they defer to the skill and local knowledge of this particular group of people.
Much like the Sherpa have intimate knowledge of the mountains, gained solely through personal experience. A professional agent will have a wealth of knowledge rooted in past experience to help guide you through any challenge you might face.
You should familiarize yourself with the locality in which you intend to buy a home and the price cycles that occur within it. In fact, it’s helpful for the real estate agent when a client knows the location and budget they want to work with because it significantly narrows and simplifies the search. However, it’s still not a substitute for the experience and instinct a professional real estate agent has to offer you. Just like the Sherpa knows where to tread, the realtor’s personal relationships within the industry can help to uncover hidden property gems.
It is not just about finding the right property, realtors are multi-skilled negotiators. Contrary to popular belief, purchasing a house involves several discrete steps that take both time and money.
Good agents do not simply find you a house and leave, they will walk by your side every step of the way from your first look at your dream home to signing the best mortgage deal they can secure on your behalf. At each of those steps, the personal relationships that they maintain with industry professionals can open up opportunities to help facilitate a smooth transaction.
The purchasing process generally starts off with an initial offer. The home owner allows for an in-depth inspection of the premises so the purchasing party is comfortable with the initial valuation. You may make an adjusted offer if the inspection uncovers anything that might devalue the property, or even cancel the deal if the appraisal is overtly discouraging. During all these steps, your real estate agent will be working their hardest to ensure that you receive the very best deal possible.
It’s also important to try and avoid focusing too much on having to pay for the service of a well established agent. It can distract you from all the benefits that will be provided to you during this lengthy process. Keep that in mind when you discuss payment with your agent; ultimately, the odds are the money you spend on him or her will be recouped in the price negotiation process for your dream home.
The Bottom Line
Finding a property that is ideal for your purposes is not a part-time job that can be effectively accomplished by reading listings in newspapers and online. Such an approach is simply not thorough enough.
Professional real estate agents produce the majority of those listings and the odds of you finding a property that satisfies all your criteria yourself are very narrow.
There is no need to compete with the professionals. Instead, allow them to work for you. It is probably the wisest first step you will take towards the home you have always dreamed of.
To conclude, I had a funny text from a valued past client over the weekend that said,
“Hi Hank. I am looking at this property in Athens to buy for recreational use. I inquired through Zillow and the agent Zillow put me in touch with isn’t the most helpful. Then my family told me duh! You should have just called Hank! Of course! But it is Father’s day. And I understand if your busy. When you can, I just want to see if I can go walk the property. I don’t have to have you there but I need to know if there are any access issues. Happy Father’s day.”