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8 Important Tips When Buying Your Home
#1 Use the services of an experienced REALTOR®.
Many times buyers avoid using the services of a REALTOR® under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's agent. This can be an expensive mistake. If you are negotiating directly with the seller or seller's agent, you may not be taking advantage of the best deal available in the marketplace today! You can have your own REALTOR®, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller. Real Estate is a unique business, where an agent with one day's experience and no sales gets paid the same as an agent with several years experience and hundreds of successful sales. I can help you avoid mistakes outlined here, and make your home buying experience an enjoyable, stress-free one!
#2 Understand who the agent is really working for.
It is important for buyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for - ask for clarification. I will fully explain agency. When negotiations commence, wouldn't you want to know whether information you divulge will be used for the seller's benefit - or yours?
#3 Have a Comparative Market Analysis prepared before offering.
Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. I can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price.
#4 Understand the different negotiating styles and strategies.
Many buyers think that the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations!
If you have chosen your REALTOR® wisely, the most effective strategies for this particular situation will be revealed to you.