Our Broker Tips: Top 3 Buyer & Seller Real Estate Must Do’s
Real estate, like everything else is a changing market, and yet in some cases there are a few areas that are fixed in sales. First time buyers and sellers will find these tips especially helpful as many fluid investors already know the ins and outs, along with the benefits to a smooth transaction.
It’s Shopping 101
What sometimes buyers and sellers forget is when marketing and purchasing a real estate property, it is essentially no different than the approach taken to any other product sale by way of presentation and transaction. We are drawn to what we like and what is seamlessly put together. Display counts, and it’s all in the details.
Consider Bloomingdale’s, Macy’s or any other clothing store for example. Exterior display windows are high impact and flawless to draw your attention and engage your eye, with a goal to get you to come in to try an item on for purchase. Once you enter the shop to find the product you seek, you are hit with stimuli from every area, all neatly displayed in a particular fashion based on the brands marketing studies; produced based on behavior of a consumer. As you navigate though the store store, checking everything out, eventually you find what you seek- and immediately hold it up!
Now the examination begins: How does it feel, is this my style, what will I wear this with, is it me? Answer: YES! Next up is the price tag; often cleverly hidden, still we search and look at it. This small paper rectangle in most cases will ultimately make our decision. This is just a fact. Can I afford this, is it worth it, and can I find this for less somewhere else? Then it’s done, you will either walk away with a shopping bag or not.
A real estate purchase is essentially the same, not in the exact order, but never the less, there is a visual process balancing with tangibles and practicality. In many cases, how much you will spend is predetermined and most people or investment groups looking for real estate do their research based on price and location. To coincide, a clients specific needs, wants and musts haves are usually identified once they are serious about taking the step towards an investment. Because of this thoughtful process it is so important both the seller and buyer take care of the little details and maximize their goals.
Top 3
We chose the top 3 tips for sellers and buyers to help you along the way. There are layers of details in real estate for certain, however, mastery of these simple items will pay off big in the end and save you time and money along the way.
Broker Tips for a New Seller
- Presentation
When you are selling your home display counts, and first impressions mean everything. The same as any other purchase; those in the market for real estate are checking everything out. Real estate is often a large expense, and a buyer will look at every detail. Be sure the house or property is not cluttered and all storage areas are neat and clean, this includes cob webs. If there is a way to limit personalization, allowing for a buyer to envision themselves living there, please do so. A clean slate presents very well, is easy to walk through and therefore sells well. Be sure the interior walls are painted and if necessary the exterior as well. Curb appeal, Curb appeal! Curb appeal is very important to the buyer and the sale of your home. Remember, buyers may drive by before calling to get a look inside. Always keep the exterior of the property neat and groomed including manicured shrubs and gardens.
- Pricing
Be very careful with pricing and do research of your own. Your agent welcomes the opportunity to not only provide you with comps in the area but also can get you into homes within your hopeful price point to see if you are in the right range. Don’t overprice the home as the new listings get great attention and a lot of potential buyers unfortunately will be lost early on.
- Photography
A picture says a thousand words could not ring more true in real estate, and will help translate to a sale. It is very important you hire an agency willing and capable of professional photographs to best represent your property. Professional photography works in sync with display, developing familiarity and drawing a buyer to your homes accents.
Broker Advice for Buyers
- Diversity
When in the market for new real estate it is important you see all the area has to offer and any property that meets your list of desires. Therefore, you should find a qualified real estate salesperson or broker who specializes in your area and one that is willing to show all listings, not only their office listings. This will be the best way to meet your specific real estate needs.
- Offers
We can be brief here…The days of low ball offers are over, when you find the home you want make a fair offer and expect some negotiation to take place, that is how real estate goes.
- Mortgages and Loans
Shop around a bit when looking for a mortgage for your investment. This is an area where you want to take a little time and evaluate all available options. Your broker can offer suggestions and point you in a good direction as well. Remember, who you choose as your lender is your choice. Spend the time to sit with at least two banks for the best mortgage rates and closing fees.
The Closing
Making an effort to apply these simple real estate details while closely working with your agent will lead you in the right direction. As always, sales and purchasing is often not an overnight process and patience comes into play on both ends, Tip number 4!
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